El Salvador is starting a housing development between subdivisions, residences and apartments, as well as commercial construction with hotels with different capacities and amenities.
CentralAmericaData's Commercial section provides an up-to-date list of public and private construction projects that have submitted Environmental Impact Assessments (EIA) to the respective institutions in each country.
At the Expo Vivienda 2019 held in Panama, 600 housing development projects were presented in different parts of the country and $120 million were reported in negotiations.
The seventeenth version of Expo Vivienda had the participation of 180 companies, of which 12 were banks and 168 promoters and real estate, informed the organizers of the event.
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.
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.
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.
In the upcoming edition of CAPAC Expo Habitat, to be held from September 5 to 9, the real estate developers' union expects that $120 million worth of deals will be struck.
Theevent will be held at the ATLAPA Convection Center, and will include the participation of more than 400 exhibitors, among them construction, real estate and decorating companies. About 600 projects for houses, apartments and land located in different areas of the country will be exhibited.
In the first two days of Expo Mivi, a fair dedicated to the sale of affordable housing in Panama, $29.7 million was negotiated in the approval of 566 housing units.
From a statement issued by the Ministry of Housing and Land Management
Expo Mivi 2018, a real estate fair designed by the Ministry of Housing and Territorial Planning for low-income families, managed to secure transactions in the order of 29.7 million balboas from the approval of 566 housing units.
It has been announced that during the third quarter of 2018 work will start on construction of a residential compound consisting of 5,500 homes, and its first stage will begin in the municipality of Usulután.
The companies that will be participating in the project, which will run for three years and will be developed at the national level, are Investment and Development El Salvador (Nami), Asinesa El Salvador and UyD Constructora.In the first stage 800 houses will be built, which will have three bedrooms, and a bathroom, kitchen, living and dining room, in a total area of 50 square meters.
The proposal to create an entity in Guatemala in which workers can save up to buy a home is under review by two law firms, and it is expected to be presented to the congress this year.
With the creation of the Housing Savings Institute (AVI by its initials in Spanish), which is based on similar experiences that have taken place in Mexico and Colombia, it is intended to include among the beneficiaries people who receive family remittances, workers in the informal economy and the self employed.
In the Capac Expo fair, 1,824 homes were sold, and the highest number of approved banking transactions corresponded to residences with prices between $40,000 and $60,000.
From a report by the Panamanian Chamber of Construction:
In the most representative trade fair event of the industry, held from September 13 to 17, a total of 1,824 housing units were sold, according to data supplied by the 15 banks that offered their services during the activity.
Through a trust belonging to the Nicaraguan Institute of Housing $31 million will be available to finance the purchase of social interest housing, with a fixed interest rate of 7.5%.
Like the construction sector, banks have started backing financing of social interest housing.In the first half of the year, loans granted for the purchase of this type of housing registered an increase of almost 17%, according to reports from the association of developers.
Apartment buildings, condominiums and complementary works in Panama, Costa Rica, Guatemala and Honduras are some of the construction projects planned for the coming months in the region.
The interactive platform"Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private construction projects for which environmental impact studies (EIA) were submitted to the respective institutions of each country in June 2017.
The construction sector proposes extending the conditions of social housing loans to a larger segment of the population, in order to promote the sale of houses with prices of between $30 thousand and $50 thousand.
The association of developers is proposing that the interest rate benefit of 2.5% and the exemption from the registration costs that are currently granted to those who purchase social housing worth up to $23 thousand, be extended to more expensive homes, worth up to $50 thousand.
Forecasts are that $160 million will be generated in mortgage transactions in the housing projects exhibition to be held from April 20 to 23 in Panama City.
From a statement issued by the Panamanian Chamber of Construction:
Under the slogan "The easiest way to purchase your home", Housing Expo 2017 will be held, the most important real estate fair of the season, organized by the Panamanian Chamber of Construction (CAPAC).
There is need to develop more vertical residential projects in urban areas at low cost and with reduced areas.
Small houses with sale prices of less than $32 thousand are what need to be built in order to increase the supply of properties for low socio-economic segments of the population in urban areas.