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.
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.
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.
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.)
UPI - Protesters were allowed Monday onto a beach on Jalisco's coast that has been sealed off since August. State police took over the beach after a judge ruled that 50 families were illegally occupying land where a businessman wants to build a resort.
UPI - The Grand Riviera Princess Hotel in Playa del Carment where five Canadian tourists were killed in a gas explosion has been fined $481,000 for failure to report modifications to its propane installation. The fine was not part of the official investigation.
USAToday - Despite its gringo trappings, the lovely 17th-century city of San Miguel de Allende appears quintessentially Mexican. But it's also home to a large community of North Americans, many of whom have come to stretch their retirement nest eggs.
Reuters - Mexican homebuilder Urbi said on Thursday that it expects sales to rise up to 14 percent in 2011, compared to 10 percent growth expected for this year. Mexicali-based Urbi is one of the leading home builders along with Geo and Homex.
Sentido Comun - The National Housing Commission, the government body responsible for defining the federal public policies in housing, announced construction of the first Zero Energy Homes project, which includes several of Mexico's biggest home builders.
Reuters - Geo, one of Mexico's leading homebuilders, said on Wednesday it expects to build 100,000 homes annually by 2015. The company, which specializes in building low-cost homes for working class Mexicans, expects to build about 56,000 homes in 2010.