The increase of 13 % compared to 2012 is mainly due to changes in international prices of construction materials.
In the capital city the cost of construction of an apartment building is about $1267 per sqm, while in the metropolitan area and its surroundings the cost is $1,169 per sqm." In relation to 2012 , the increase is 13 %, because in that year, what was paid in the city was $1,112 and $1,042 in the surrounding area", reported Prensalibre.com.
One of the projects which aroused the most interest from foreign investors in the recent Investment Summit has drawn criticism over its design and planning.
The small amount of urban development and the broken terrain in the area of Zone 25 where the Municipality of Guatemala plans to build an international airport have raised questions in the real estate sector.
Recommendations have been made to Guatemala to update and modify the legal framework for state contracts and disclosure on public works, something that is not done officially.
These recommendations were made in the third report on transparency in the Construction Sector by the World Bank (Cost). The study notes that there is opacity in the delivery of information about buildings, as there was a reduction from 65% to 54% in key information on 17 projects covered by the research conducted in 2011.
Banrural and the German Bank for Development and Investment have granted a loan to Servicios para Centrales S.A. to finish building the bus transfer terminal CentraNorte in Guatemala.
The Rural Development Bank (Banrural) and the German Bank for Development and Investment (DEG, by its German acronym), have agreed to pay $40 million to the company Servicios para Centrales S.A., to complete construction of the bus transfer terminal CentraNorte, reported Elperiodico.com.gt.
The complex will also have space for 300 banks, restaurants and shops.
In order to ease congestion of traffic coming from the East, a bus terminal will be built, which will be able to receive 2 million passengers per month.
Buses coming from that area will not have to go into the city, helping to improve traffic conditions in the capital, especially in rush hours.