Industrial Parks, Costs and Trends

Because of restrictions on the movement of heavy cargo in Guatemala City and the high cost of land, more and more companies are choosing to move their operations to neighboring municipalities.

Tuesday, March 3, 2020

According to estimates by directors of the developer Calidad Inmobiliaria, the cost of land has risen significantly in the country's capital, since in the areas near Atanasio Tzul and Petapa Avenue, in Zone 12, the cost of the square fence is over $350, while in the municipality of Amatitlán it ranges between $100 and $150.

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This important difference in prices, combined with restrictions on the transit of cargo vehicles, has turned the municipalities of Villa Nueva, Amatitlán and Palín into a logistical corridor.

Oliver Leonowens, director of the Real Estate Quality Industrial Business Unit, told that "... more and more companies are working inside a manufacturing, distribution, logistics or storage warehouse, because it is complicated and expensive to operate within the city, and growth is limited by the cost and space of land."

Leonowens added that "... if a company has several warehouses distributed throughout the city, it has several guardians and also operates in a place where the cost of land is high, by moving to a single point outside the city, it reduces costs and makes better use of its space."

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Regarding new trends, the CEO of Mr. Bodeguitas, Federico Rolz, explained to that " ... The Generation 3 project, located in Las Charcas, zone 11 of the city, is characterized by having buildings with independent alarms, corridors designed for residential users which becomes an extension of the office and the house."

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Land Prices Rise in Nicaragua

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The demand for land for crops and property development has raised prices in most productive areas.

In cities such as Estelí, Matagalpa and Chinandega, the economic boom has driven up the price of land for farming and for building residential and commercial properties. According to Ricardo Melendez, chief of the Chamber of Builders, one square yard is trading at up to $300 in those cities.

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