$15.3 Million for Condominiums in El Salvador

In November 2009, Urbánica will begin construction of the “Portal La Ribera” 54-home complex, which they hope to finish by the beginning of 2011.

Tuesday, June 23, 2009


With a $15.3 million investment, the real estate developer Urbánica plans to complete the first set of homes for the project, which is located in the San Benito, San Salvador neighborhood, in May 2010. The prices of the homes will be between $275,000 and $300,000.

According to Laprensagrafica.com, “Portal La Ribera will be built in three stages and is planned to be completed in February 2011. Calculations show that the development will generate, directly and indirectly, more than 1,500 jobs.

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El Salvador: $60 million in Real Estate Project

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The company Urbánica Desarrollos Inmobiliarios plans to develop an residential project, known as Portal Canarias in a 15.7 hectare area in El Espino.

The project, which includes four residential condominiums, will generate about five thousand jobs both direct and indirect, said Alvaro Barraza, Commercial Manager of the project.

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There are plans to build a mini-city on the beach in Puntarenas, two mega projects and 6 other smaller works that represent $211 million in investments.

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The project Puerta La Palma, developed by the Real Estate division Dueñas Hermanos Ltda., will feature 66 homes, with a construction area of between 265 square meters and 283 square meters.

The project, targeting high income families, will be located in what the developers call "District El Espino", which ecompasses the area from Gran Via shopping center down to La Castellana, Portal Ribera, the residential site El Espino and Portal Canarias.

$22 Million for New Real Estate Project

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Property Developer Cubitá will begin in September a project by the same name in the Province of Herrera, Panama.

The works include the converting five acres into land suitable for residences, a shopping mall, condominiums and a hotel, the construction of which is expected to be completed in late 2012.

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