Reuters - Struggling with slowing home sales and a lack of liquidity, Mexico's top three homebuilders - Homex, Geo and Urbi - might have to seek bankruptcy protection if they fail to reach an agreement with creditors in the short term.Real Estate
BBVA offers savings program for buying home
Sentido Comun - BBVA Bancomer announced the launch of a program geared at people who can not verify their incomes by opening a savings account that within six to 18 months will let them get a loan to buy a house ranging in value from 180,000 to 1 million pesos ($13,900 to $77,260.
Santander is offering 10.53% mortgage
Sentido Comun - Banco Santander launched a new 10.53 percent mortgage described as the lowest annual interest rate on the market. The mortgage applies to those wishing to acquire medium-sized house or apartment.
Marhnos teams with Turner on Latin projects
Sentido Comun - Marhnos, a Mexican construction company, said it has partnered with Turner International, a U.S. company, to jointly participate in 100 real estate projects in Mexico and Latin America over the next five years. The company will be called Marhnos Turner.
Tata is adding third center in Jalisco
Maquila Portal - Tata Consultancy Services, the India-based software development company, announced expansion plans for their operations at a third center in Jalisco. A total of 1,000 jobs wil be added in 2010 and the labor force is expected to double by 2013.
Tyson is building processing plant in Durango
Sentido Comun - Poultry producer Grupo Tyson plans to invest 12 million pesos (nearly $1 million) to build in the state of Durango Mexico's largest plant for processing plant and protein oils as part of its 200 million peso ($16 million) expansion plan in Mexico.
6 hotel chains planning $1.7 billion in projects
El Economista - Over the next two years, six hotel chains are planning to invest more than $1.7 billion in projects in Mexico, developers revealed at the Tianguis Turístico. Among them are 51 hotels in the Intercontinental Hotels Group, which includes Crowne Plaza, Candelwood Suites and Hotel Indigo.
eleconomista.com.mx/industrias/2010/04/27/mexico-atrae-hoteleros
Urbi kicks off building program in Queretero
Sentido Comun - Urbi Desarrollos Urbanos, Mexico's second biggest housing builder, announced the launch of operations in the state of Queretaro through its Socio Concesionario scheme, which is expected to create houses for 2,600 families and generate more than 20,000 jobs over three years.
Real estate developers looking to Canada
Real Estate Channel - With the United States still wallowing in the blahs, Mexico developers are allocating more resources to target Canadian second home buyers. Although difficult to quantify, project managers say the Canadian snow birds are bouncing back quicker than other buyers.
Homex offers 5,482 eco-houses
Sentido Comun - Homex, Mexico's leading home builder, said it has built 5,482 eco-houses around the country that may qualify for Infonavit's Green Mortgage. Among the perks is equipment to save water, electricity and gas.
Homex agrees to alliance with Indian builder
Reuters - Mexico's Homex, which specializes in mass-producing homes that sell for less than $40,000, said on Monday it intends to partner with Indian construction company Puravankara on new public housing projects in India. The first project being looked at will be in Chennai, a city in southern India.
