Land where the Yucatan Sustainable Stadium will be built, will be sold for 400 million pesos (20 million USD)

Mérida, Yucatan, (September 28, 2021).- The land where the Sustainable Yucatan Stadium (ESY) will be built will have a commercial value of 10 thousand pesos (490 USD) per square meter, which will generate income of 400 million pesos (19,700 USD), which will be aimed at improving roads, services and public spaces for the benefit of the residents of the Cordemex Housing Unit and the Sodzil Norte community, said the head of the Ministry of Economic Development and Labor (Sefoet), Ernesto Herrera Novelo.

In an interview, the official stated that the purchase of the space that is made by private investors is a transparent operation, which is carried out in accordance with the State Real Estate Law, which establishes that in order to carry out a transaction of this type, You must have at least two appraisals by public brokers that show the value of the property.

“The most important thing is that the benefit has to be immediate, for the people who live in Cordemex neighborhood, in the Sodzil community and in the surrounding places. The exercise has already been done, with the Mérida City Council, and the proceeds of the sale, in the first place, go to improve roads and living conditions of the families that are there, ” Herrera Novelo asserted.

He added that with the resources obtained from the sale of these lands, they also seek to improve Cordemex’s market, especially in matters such as drinking water, which is a demand of the people who buy and market their products there.

“It is not a secret that, every time, the budget of governments is less and we have to see how we can support citizens, above all, take advantage of synergies with private initiative,” he emphasized.

The head of Sefoet reiterated the importance of being open to the private initiative being able to continue investing in Yucatán and working together with the State Government, to generate the jobs that are needed, as in the case of the Stadium, where four thousand job vacancies will be created during its construction and a thousand when it is already in operation.

Herrera Novelo recalled that before determining the final space for the ESY building, five locations were reviewed, in which the corresponding market studies were carried out, however, investors chose Yucatán because it is a place that offers companies legal certainty and the security of recovering their investments.

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