Invaders Hinder Investment Project in Nicaragua

The development of a residential project in Matagalpa has been detained since last year because of occupation by 300 land grabbers.

Thursday, June 20, 2013

The invasion of more than 300 people on private land has stopped construction of a development project which aims to build 250 homes with a value of between $150 thousand and $500 thousand each.

The land in Matagalpa is owned by businessman a Pedro J. Gutiérrez, who eight months ago presented the problem to the Attorney General of the Republic Hernan Estrada, the mayor of Matagalpa, and the head of the National Police Commission Aminta Granera, however none have managed to evict the squatters.

The complete area of the development project La Granja, measures 32 hectares. Gutierrez called on the central government to stop land invasions, because in the particular case of the residential project, it hurts both the developer as well as BanCentro and Banpro, the banks financing the homes.

The businessman said he has found that five or six people out of every ten squatters "have property elsewhere" which shows that the illegal invasions "are a business."

¿Busca soluciones de inteligencia comercial para su empresa?



More on this topic

Construction Projects Planned for 2020

November 2019

A sports center in Costa Rica, a shopping center in El Salvador and an office building in Nicaragua are part of the investments planned for the coming months in Central America.

The interactive system "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private construction projects that are planned to be built soon.

Investment Announced in Housing Projects in Nicaragua

September 2012

Guatemala's Grupo Spectrum has announced an investment of over $20 million in various real estate projects in Nicaragua.

In the Nicaraguan capital, in Las Colinas, the company announced the construction of "Cumbres del Portal" and the urbanization "Alamedas de Las Colinas".

Second Stage of Los Micos Beach Starts

September 2011

With the first payout of a $15.9 million from a syndicated loan worth $24 million, construction of the second stage of the tourism project in Honduras will begin.

The banks, Ficohsa, BAC Honduras, Ficensa, Rural Development Bank in Guatemala and Panama's Banco Pichincha had already approved a syndicated loan of $24 million to finance the tourism project.

Real Estate in Central America

May 2009

A Special Report by Revista Summa, containing a comprehensive overview of the construction industry in the region.

The current financial picture has not stopped progress in the construction sector in Central America and the Dominican Republic:

Country Summaries:

GUATEMALA