Real Estate

Real Estate

Tourism recovery expected to lag behind

El Financiero - Mexico's climate of insecurity and environmental restrictions such as the ban on construction near mangroves, is expected to slow the rate of tourism investment this year compared to the recovery in other sectors.

FCC's Perez Mota defends shutting out Asur

Sentido Comun - In an interview with Sentido Comun, Federal Competition Commission Eduardo Perez Mota defended the decision to bar Grupo Asur from bidding to develop the Riviera Maya and said judicial proceedings will now determine the project's timing.

Mexico adds four wetlands to protected areas

Fox News Latino - Four wetlands in Mexico have been added to the list of protected areas under the Ramsar Convention, an international treaty on the conservation and sustainable use of these ecosystems, making Mexico No. 2 in terms of protected areas.

PLA gains $98 million credit line for investment

Sentido Comun - PLA Industrial Properties, a subsidiary of U.S. Prudential Financial, gained a revolving credit line of 1.105 billion pesos ($98.91 million) to carry out investment in Mexico. The company did not disclose the financial institution granting the credit.

InterContinental Hotels plans 47 hotels in Mexico

Fox News - InterContinental Hotels Group will invest $500 million in Mexico over the next three years to build 47 hotels with a total of 5,000 rooms, said the office of Mexican President Felipe Calderon, who has declared 2011 the Year of Tourism in Mexico.

DF predicts 200 hotels will be built in city this year

Sentido Comun - Mexico City's government estimated that companies will invest about $200 million to build 12 new hotels in the capital. Among the properties are the Sheraton, Hotel Quinta Real Polanco Suites, Park Hyatt and the Camino Real.

IXE buys remaining stake in Deutsche Bank unit

Sentido Comun - IXE Financial Group has acquired the remaining stake of 49.9 percent in specialized intermediary Fincasa of Deutsche Bank to increase its presence in the mortgage industry. The companies did not disclose financial details of the transaction.

GEO initiates low-income housing project in Tabasco

PRNewswire - Casas GEO, Mexico's leading affordable entry-level housing developer, announced the commencement of a project in Tabasco, expanding its presence across 19 Mexican states. The project will provide 13,000 houses.

Real estate firms launch "live Mexico" campaign

SFGate - An array of Mexican companies are joining forces to promote living and real estate investment in Mexico. The companies hope to combat the negative media, security concerns and perception challenges that have faced Mexico the past year.

Infornavit beats 2010 goal of 475,000 home loans

Dow Jones - Mexico's government-run housing fund Infonavit said Thursday it made 475,072 mortgage loans in 2010, up 6.2 percent from 2009, narrowly beating its base target of 475,000. The amount of the loans totaled 156 billion pesos ($12.7 billion.)

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