New Areas for Real Estate Development

In recent years most of the real estate projects have been built in the traditional areas of Guatemala City, but now new developments are seeking to exploit other locations.

Tuesday, May 29, 2018

dir="ltr">Places such as the second avenue of Zone 9 in the city are sites that were not previously considered traditional areas for developing real estate projects. However, construction permits have now been processed at that location, as is the case of the office tower that the Passau real estate company will be developing.

See "Central America: $1.6 billion in Office Construction"

Regarding this new area of real estate development in Zone 9, Enrique Godoy, director of the Municipal Proposal consultancy, explained to that " ... it is an area that connects La Castellana Avenue and Montúfar Street, as well as being very close to Avenida La Reforma and it has a "shelter zone" created by the Parque de la Industria that separates the 2nd and 5th avenues of zone 9 from La Terminal."

See also "Construction in Central America: What's next"

In relation to the restrictions that the area has, real estate market expert, Juan Carlos Salazar, said that " ... one of the difficulties of the developments in zone 9 is the height restriction that has to be adhered to on the route to the airport. However, it is a great option for different projects, although that limitation can raise prices." 

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