An environmental impact study has been submitted for construction of a complex of 3 mixed-use towers in Guatemala City, which will house commercial premises, offices, apartments and a hotel.
Data from the interactive platform "Construction in Central America" compiled by the Business Intelligence Unit at CentralAmericaData indicates that, in September, Grupo Cuadra S.A. presented an Environmental Impact Study (EIA) to the Ministry of the Environment to build a mixed-use building in zone 10 of Guatemala City.
A rise has been indicated in commercial, residential and hotel developments in areas of Santa Tecla and Antiguo Cuscatlán thanks to its geographical and topographical advantages.
The proximity to the coast and its topographical features make the southwest area of El Salvador an attractive area for real estate development, particularly for commercial, residential and hotel developments, reports Elsalvador.com.
A free zone, two hotel developments and a condominium estimated at $185 million and $30 million are part of the works that private entrepreneurs have planned for the province of Limon, in Costa Rica.
With the announcement of the construction of the container terminal at Moin and the extension of Route 32, investors have glimpsed investment and business opportunities in the province, which foresees strong economic development in the coming years.
Shopping centers and hotels in the city and on the coast are part of the new projects planned for this year and 2015.
Four commercial and mixed-use projects are predicted to boost the sector in 2015. These are City Mall, City Place in Santa Ana, Ocean Mall in Puntarenas and Jacó Beach Walk in in Jaco beach. City Mall and City Place are currently under construction and are projected to start operations in the middle of this year.
There are plans to build a mini-city on the beach in Puntarenas, two mega projects and 6 other smaller works that represent $211 million in investments.
The three largest projects will be developed by local companies in the province of Puntarenas, in the Central and Garabito cantons. "These, together with six other smaller private works, represent investments of over $211 million and the use of more than 164 hectares of land in the next 15 years," noted an article in Elfinancierocr.com.
Construction has started of a 100-room Marriott Courtyard and work will soon begin on a Hyatt Place which will have 120 rooms.
The information was released by Epaminondas Marinakys, president of the Chamber of Tourism of Honduras (CANATURH), who explained that Marriott is building its project in the area of Rio de Piedras in San Pedro Sula. "A Courtyard is being built at the end of Boulevard Morazan which is of the Marriott brand.
Situated on the Azuero Peninsula, the Cubitá Boutique Resort & Spa hotel comprises of 100 luxury rooms, a convention center, a shopping mall and a residential area.
From an article published by Grupo Cubitá:
On October 12, 2013 a new chapter will be written in the history of the Azuero Peninsula with the official opening of the acclaimed Cubitá Boutique Resort & Spa, the first project of its kind in the Republic of Panama.
The Trujillo Beach Eco-Development has been announced, with an investment of $50 million in an 600 hectare area which will feature residences for Canadian and Israeli citizens, in the form of condominiums and a hotel.
To date 40% of the total planned cost has been invested, which is $50 million. The "Trujillo Beach Eco-Development" project will be developed in a 600 hectare area in the area of Viejo Marañones, in the vicinity of Lake Guaymoreto.
With the first payout of a $15.9 million from a syndicated loan worth $24 million, construction of the second stage of the tourism project in Honduras will begin.
The banks, Ficohsa, BAC Honduras, Ficensa, Rural Development Bank in Guatemala and Panama's Banco Pichincha had already approved a syndicated loan of $24 million to finance the tourism project.
Property Developer Cubitá will begin in September a project by the same name in the Province of Herrera, Panama.
The works include the converting five acres into land suitable for residences, a shopping mall, condominiums and a hotel, the construction of which is expected to be completed in late 2012.
According to an article in Laestrella.com.pa's, "The project includes building 91 houses in the residential area, of which 64 are apartments and 27 will be houses, all within a gated complex with a perimeter wall and security gate. The square, the commercial component of the new concept, will have the capacity to house 17 shops or establishments. "
Grupo Pellas has estimated that this will be the number of jobs generated once the project becomes operational.
The Guacalito Tourism Project, which is being developed by the Pellas Group on Nicaragua’s Pacific beaches will be inaugurated at the end of next year, company representatives announced.
The construction of the project is progressing steadily, and so far over a thousand people have been employed, but it is estimated that this figure will increase as work progresses and operations start.
The Decameron hotel chain has suspended its investment in the area where the controversial Rio Hato airport will be built.
The lack of information by the government on the characteristics of the airport works has led representatives from Decameron to halt the construction of a shopping center, two new apartment towers and villas.
The company believes that the construction of an airport tunnel, which is due to be tendered next week, will affect the entrance of a hotel operated by the chain in the Farallon area, which is 75 meters from the runway.
Grupo Krea plans to have the first phase of the project ready en Playa Monterrico, Santa Rosa by the first quarter of 2012.
The Guatemalan development project consists of hotels, villas and apartments distributed over an area of twenty hectares and will be built over a period of 5 years.
The USA’s emerging economic recovery and the growth in Guatemala's own economy are some of the reasons that have brought Grupo Krea to venture into this tourist development.
The touristic development, to be located in the Tela Bay, finally landed funding from 5 financial institutions.
Ficohsa, BAC Honduras, Ficensa, Guatemala's "Banco de Desarrollo Rural" and Panama's "Banco Pichincha" approved a $24 million structured credit to fund this initiative.
Javier Atala, manager of Ficohsa Bank, noted that this project will contribute to the tourism industry and will help promote Honduras as one of Central America's leading tourist destinations.