Rise of Office Centers in Guatemala

The opening of the Desing Center corporate office buildings whose investment is $26 million, adds to the growing collection of new office centers in Zone 10 in Guatemala City.

Friday, July 22, 2011

The new center joins the 30 existing buildings and with them others whose construction is nearing completion, as is the case of the Sixtino II Building, the Interamerican Business Center, the Dubai Center and the Banco Industrial’s Tower 3 in Zone 4.

A further project in Area 15 is the Domani project, which began construction in the Prairie area, and is considered the largest in Central America, with 5 of the 7 planned office towers already under construction.

"Juan Carlos Salazar, research director for the firm Global Real Estate Inspections, told Elperiodico.com.gt, that there are currently 30 office buildings in Area 10, signifying that supply exceeds demand, causing a bubble.

"The problem is that real estate companies have not gauged how much competition there could be between one and another, although the projects were created for the right reasons, there have been situations and setbacks that have seriously affected the market '."



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