Residential Project Changes Hands

In Costa Rica, the Málaga City housing project, which was to be developed by Rock Constructions, was acquired by ALD Inmobiliaria, which plans to resume works.

Friday, August 24, 2018

In January 2017 the company Infinito Versol S.A. announced its intention to issue $42 million in debt bonds in the local market in order to finance the construction of a residential development of 1,600 homes. 

See "$42 million Bond Issue for Real Estate Project".

From a statement by the MEIC:

August 24, 2018. This Thursday, ALD Inmobiliaria, met with the authorities of the Ministry of Economy, Industry and Commerce (MEIC) to announce the acquisition of the Malaga City residential project, located in Alajuelita, belonging to the company Rock Constructions, with the aim of reactivating it under the name of Residential Terra Verbena.

The MEIC, for its part, is making the necessary arrangements so that the project complies with current regulations and the commitments and obligations of the consumers who handed over deposits with the dream of having their own home, are met.

According to the information presented, ALD Inmobiliaria will lead the project under the figure of its subsidiary Infinito Versol S.A., a special purpose company created for the development of this project, which will be developed in conjunction with Constructora Traesa and Urbanizadora La Laguna through a bank loan which ensures the continuity and conclusion of the project.

We hope that this transition process is fluid, and allows consumers to regain confidence in the market that has been undermining it because of repeated failures by some developers.

Read full statement (in Spanish).

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More on this topic

Residential project works are reactivated

October 2018

After the Malaga City housing project was acquired by ALD Inmobiliaria in Costa Rica, the construction company has re-started work on the 1,600-unit condominium.

In August, in order to reactivate the project under the name "Residencial Terra Verbena", the acquisition of the residential complex "Malaga City" located in Alajuelita by ALD Inmobiliaria from Rock Constructions was reported.

$42 million Bond Issue for Real Estate Project

January 2017

In Costa Rica, Infinito Versol S.A. is planning to issue $42 million in debt bonds in the local market in order to finance construction of a residential development of 1,600 homes.

The issue was authorized by the General Superintendency of Securities in November 2016, and the placement in the local market is scheduled to take place before April this year.

El Salvador: Homes for $40 million

March 2016

Plans indicate that the project by the construction firm Salazar Romero in the municipality of San Miguel will have 1,300 residential units, electronic entry systems, monitoring and an electrified fence.

The construction firm Salazar Romero has announced an investment of $40 million in the residential real estate project Metropolis San Miguel, which consists of the construction of 1,300 homes at the end of Seventh Avenue South, in the municipality of San Miguel (east of the country).

New Real Estate Project in Guatemala

March 2011

Spectrum Real Estate presented its Alamedas de Santo Domingo project which will require a $ 26 million investment.

The project comprises the construction of 396 houses with six different designs, located at km 30.5 of the highway to El Salvador.

Rodolfo Fajardo, sales manager, told Siglo21.com.gt that housing "... will be for families with income greater than $ 2 thousand and prices will range from $ 92.000 to $ 116,000."

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Calidad Inmobiliaria

Organization that operates in El Salvador and Guatemala.
Phone: (503) 2223-9848

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