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Latin America Investment News on Viva Tropical

This Booming Location in Guatemala Might Surprise You

Article Summary:

San Lucas, Guatemala is booming, despite being one of the smallest municipalities in the nation. With a record number of housing developments fueled by its ideal weather conditions, abundant water, and situated on the Inter-American highway have made it an attractive location not to just live, but also start a commercial boom.

Photo Credit: Family Mission Project

Original Article Text From el Periodico via Google Translate:

The Boom in San Lucas

For many Guatemalans San Lucas Township, Sacatepéquez, is the ideal place to enjoy a snack after a stroll through La Antigua Guatemala. Moreover, its cold, wet weather, location and abundant water make it an attractive place to live, encouraging a housing development that began more than 15 years and a commercial boom is just beginning.

Despite being the smallest municipality Sacatepéquez department (24.5 square miles), its location on the CA-1, the Inter-American Highway that runs through the town center, has become a corridor of four kilometers long where you have installed restaurants, all kinds of shops, furniture stores, convenience centers and five commercial spaces.

A sample of that growth is his latest project: The Gates, a mall of over 42 thousand square meters to be built at kilometer 29.5 of the CA-1, which will have 90 stores and more than 500 parking spaces, in the same is by investing U.S. $ 25 million and is expected to be completed in late March.

Antonio Maldonado, director of Portalis Group, developer of the project, explains that in recent years an explosion erupted in San Lucas business with the location of five shopping centers in the area, which motivated them to study the possibility of building a mall much larger on the road.

Maldonado, a farmer by profession and owner of the “San Lucas Agroexportadora” remember that was in 2009 when several consultants noted that one of its land located on the Interamericana was privileged to build a mall. “That started it all,” he said.

Gates, whose name refers to “Gateway to the West”, title which is known to San Lucas, Sacatepéquez, will retailers like McDonald’s, scallions, Bakery San Martin, a supermarket Paiz, a plaza with several banking agencies, and an area of ​​health care and pharmacies. “The idea is that people do not go down to the city,” Maldonado said, noting that its opening will employ over 800 people in the place.

Why San Lucas?
To Yener Plaza, Mayor of San Lucas, it is easy to answer that question: “Cold weather and plenty of water,” he said, which is why they have developed over a period of 20 years about 80 residential projects between colonies, condominiums and subdivisions.

San Lucas has a population of over 30,000 inhabitants and continue migrating to various housing projects. Furthermore, according to the Municipal Traffic Police circulate around 90,000 vehicles per day by that sector.

“We are located in a strategic point, 20 kilometers from the city, 15 of the former, 25 of Chimaltenango and where different colonies. We have seven revenue to the town, so much is provided for investment and is now a bedroom community. Seeing these figures is easy to see why they generate such commercial projects, “said the Mayor.

Housing, commerce and traffic
Manuel Salguero, CEO of Real Estate Strategies and Investment Valuatorias (HALE), emphasizes that Luke has a unique advantage in its location, as any commercial project to be developed in the area affects people of Antigua Guatemala, Santiago, Santa Lucia Milpas Altas, Sumpango and Chimaltenango, an estimated 200,000 people, according to market research Portalis Group.

The expert says that the land appraiser in San Lucas Sacatepequez becoming scarce due to high demand in recent years. Stresses that the average prices of the lots started from Q180 Q250 thousand to over a thousand. Also estimated that the price of the square rod is priced between $ 40 and $ 60, but in the most exclusive places this figure is higher.

However, it stresses that both the housing and the commercial growth in traffic congestion affecting the area. “When you start working this mall would have to see how strong the impact will be,” he concluded.

Link to Original Article:

From el Periodico

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