25 major real-estate development projects underway in Merida

Cabo Norte One of the Projects that are under construction in Merida (Photo: SIPSE, Milenio Novedades)

According to City Hall, the Yucatecan capital is the fourth city in Mexico with the highest private real-estate investment, surpassed only by Monterrey, Mexico City and Guadalajara….

MERIDA — With 25 private investment projects, between scheduled and underway, Mérida is positioned as the fourth city in the country with the largest real estate investment in slightly more than four years, from September 2015 until the end of 2018, according to the Deputy Director of Economic Promotion of the City Council, Antonio González Blanco.

He said this investment encompasses one million 845 thousand square meters of construction area in different points of the capital, including the southern portion, that represents an investment of $2.68 billion USD.

Cabo Norte one of the Projects that are under construction in Merida (Photo: SIPSE, Milenio Novedades)

Gonzalez Blanco said that among these developments are residential complexes for people with high purchasing power, such as Vía Montejo, located to the north. This project shows substantial progress, although it is not yet fully built.

“In addition to those planned in the south, some of them collaterally pay City Council projects in public works, one is the  construction of a corporate tower in the southern periphery, which will also generate direct jobs,” said the Merida city official.

Future Projects under construction in Merida (Image: SIPSE, Milenio Novedades)

The investment in the Yucatecan city is considered only below cities such as Monterrey, Mexico City and Guadalajara, which have more than 100 scheduled projects, mainly in the first two cases, to be completed in 2018.

“We are talking about commercial plazas, and other real estate developments that are registering a significant growth and development in our city, so that same indicator shows that we are having an investment in private work superior to the level of the south-southeast,” said the Merida official.

Source: sipse.com/milenio

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