The construction union has organized for March 23 and 24 a fair which will showcase the supply of houses worth more than $100,000, and commercial and office buildings.
The event, called the Luxury Homes & Building Fair, will be held at the Hotel Intercontinental Metrocentro in Managua.Representatives from the Chamber of Builders of Nicaragua (Cadur) explained that the fair is being organized in response to the growing development of the property market in the country.
The is a growing trend of companies setting up their offices in buildings in Managua, where 11 projects are reported to be under construction, with an estimated value of $100 million.
Although the market for corporate buildings in Nicaragua has only relatively recently started to develop, real estate entrepreneurs report a growing interest from companies in setting up their offices in these spaces.
A water treatment system estimated at $95 million, a municipal park and office buildings are some of the public works projects planned for the coming months in the region.
The information system"Construction Projects in Central America", provided by the Business Intelligence Unit at CentralAmericaData, provides an up to date list of the public and private constructionprojects for which environmental impact assessment (EIA) studies were submitted to the respective institutions of each country in December 2016.
In 2016 net absorption of 82,000 m2 was reported, compared to the 44,000 m2 of new spaces, the highest since 2012, and a inventory rotation which was less compared to other years.
From a report by Newmark Grubb:
2016 closed as one of the most special years in recent history of the office market in Costa Rica: according to information supplied by Newmark Grubb, it was the first time that inventory demand exceeded new spaces that were introduced.
Construction has started of a shopping complex that will include a hotel, a 23-story tower for offices and a shopping center opposite the hotel Sheraton Presidente.
The complex comprises a 23 story tower with a shopping centre, corporate offices, a hotel and parking lot. The development is being run by Bosh Inversiones S.A. de CV, and Elsalvador.com reports that "... it will require an estimated investment of $85 million."
Office buildings, works on the network of aqueducts, an apartment tower and development works are some of the projects for which environmental impact studies were submitted in September 2016.
The report"Construction projects in Costa Rica - September 2016"prepared by the Business Intelligence unit at CentralAmericaData.com, provides an updated list of major construction projects for which environmental impact studies (EIS) were presented to the National Environmental Technical Secretariat (SETENA).
Mántica Group plans to invest $25 million in the construction of a shopping center on the road to Masaya and $21 million in an office building and commercial premises in the area of Villa Fontana, Managua.
The first project is scheduled to start in March 2017 and consists of a two-story shopping center, in which the company announced it will be investing $25 million. It will be completed in December of the same year.
The Honduran company TECNISA- CINSA was selected in the tender to oversee the project design and construction of the Civic Government Center.
From a statement issued by from Coalianza:
The Honduran company TECNISA- CINSA is the winning company in the international public tender for the work of project management of the Project for the Design, Financing, Construction, Equipment and Operation of the Civic Government Center (GCC), which will take the form of Public Private Partnership (PPP).
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