El Salvador: $ 2,000 Million Investment Frozen

At least seven projects are stalled, waiting for the country's situation to improve.

Wednesday, November 17, 2010

Newspaper elsalvador.com detailed major investment projects which are on stand-by in El Salvador:
- Cutuco Energy and AES Fonseca (energy, $ 1,630 million)
- Porto Pango (tourism, $ 300 million)
- Encanto Villas & Golf (residential, $ 100 million)
- Europlaza World Business Hotel (tourist and business)
- Q Towers (residential and business).

The reasons behind the decision to halt these projects are varied, and include difficult domestic and international economic conditions, poor public security and political and legal uncertainty.

The article adds that most of these initiatives would resume in 2011, when the country's situation improves.

More on this topic

More Backing for Investment in the Nicaraguan Pacific

January 2013

The tourism developer Gran Pacifica is planning to complete the Gran Pacifica villa with 300 homes, hotels and condominiums, golf courses and parks, according to the master plan for investment.

Laprensa.com.ni reports that "Leveraging the signs of recovery shown in some of the world’s economies, which seem to have withstood the roughest stage of the global crisis, the tourism developer Gran Pacifica is expanding its growth targets toward agribusiness, energy generation and mining, without abandoning its goal of consolidating residential tourism. "

$38 Million for Corporate Complex in El Salvador

May 2009

Europlaza World Business-Hotel is part of the projects being carried out by the Guatemalan Real Estate Company, El Bosque.

Located on the Panamerican highway in Old Cuscatlán, the project will have four towers and a hotel.

Guadalupe Hernández wrote in Elsalvador.com: "According to the mayor of Old Cuscatlán, the developer has complied with the required permits for the construction of such projects, reason for which it proceeded with the earthworks in an area of over 56 thousand square meters."

Ilopango to get US$300 million tourism makeover

May 2008

Private investors are working on a US$300 million project to turn Lake Ilopango into a top tourist destination.

The project would include construction of El Salvador's first five-star lakeside hotel, with 285 rooms, as well as luxury condos with swimming pools, a spa and shopping mall.

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