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."

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