AP – A Mexican court has issued an injunction blocking further work on a real estate project in the Caribbean coast resort of Cancun that activists say has almost killed a mangrove swamp at the site.
Sentido Comun – Fibra Danhos, a specialist in building and managing various real estate ventures, announced the start of operations in two of the three office towers in the Bullfight Central Park complex.
Sentido Comun – Galante Real Estate, a company that promotes investment properties and commercial residences in Florida, announced the opening of its first office in Mexico.
InSight Crime – A new study by the Inter-American Development Bank finds that violence disproportionately affects the real estate value of homes in poor neighborhoods in Mexico, an illustration of how crime exacerbates wealth inequality.
Sentido Comun – Grupo Gigante, a conglomerate with retail, real estate and restaurant interests, is contemplating real estate expansion of about 2,650 million pesos ($156 million) to build two real estate developments in the capital over the next four years.
Sentido Comun – Fibra Uno completed the purchase of six office buildings located in the nation’s capital for a price of 5.246 million pesos ($306.4 million).
Design Boom – The winner of a national architecture competition for the Papalote Children’s Museum in Mexico City is the joint team of Barcelona-based studio MX_SI and SPRB, a practice based in Guadalajara.
Sentido Comun – Terrafina Fiber has completed the purchase of $59.4 million of 10 industrial properties in the center and north of the country.
Sentido Comun – HD Fiber has agreed to buy for 240.1 million pesos ($14.1 million) the Point Mall Plaza in Los Mochis, in the state of Sinaloa.
Sentido Comun – Macquarie Fiber reached an agreement to acquire for $21.7 million two industrial properties and adjacent land in Ciudad Juarez.
Sentido Comun – Promecap Development Capital, an investment fund that buys company assets or shares and provides financing, has received government approval to proceed with its plan to acquire a portfolio of Quintana Roo property.
Reuters – It might not look its best after a visit a few days ago by Hurricane Patricia, but this is Costa Careyes, home to some of the world’s most exclusive holiday homes. The Mexican playground of the rich and famous has been ravaged by the storm.
Sentido Comun – Three skyscrapers apparent along Paseo de la Reforma give the capital a new aura of modernity and development. Soon, in that small urban space that some are calling the Little Mexican Manhattan, a new 50-story tower will be erected.
Sentido Comun – The real estate company controlled by the wealthiest entrepreneur Mexico, Maria Asuncion Aramburuzabala, won the legal battle that pitted a group of Polanco neighbors who opposed a housing project in the capital .
Counter Punch – Todos Santos on the Baja California peninsula is getting a mega-development called Tres Santos to build 4,472 homes over twenty-five years, leading to an estimated indirect population growth of more than 60,000 new residents, quite a leap for a town whose population in 2010 hovered just above 5,000.
Sentido Comun – Fibra Macquarie closed the purchase of 10 industrial properties for $105 million. The properties are located in f Monterrey, Tijuana, Reynosa, Saltillo and Ciudad Juarez and currently have an occupancy rate of 93.9 percent.
Sentido Comun – Fibra MTY completed the acquisition of Catacha property after investing 41 million pesos ($2.5 million). The building is in Santa Catarina, in the state of Nuevo Leon.
Sentido Comun – Fibra Macquarie reached an agreement to acquire for $30.3 million eight industrial properties in Monterrey to continue with its program of investment and expansion.
TeleSur – A huge battle broke out in eastern Mexico City over an empty lot that was illegally trespassed by at least 200 families claiming to homeless.
By Nancy Cordes / CBS
No one disputes that the current U.S. Embassy in Mexico City is crowded, outdated and needs to be replaced. So four years ago the State Department bought a 15 acre plot in a former industrial district for $120 million.
But there was a catch: the site had housed a Colgate-Palmolive factory for decades, which left behind hazardous waste. Colgate has been cleaning the site but it’s been three and a half years and it’s still not ready for construction.
It is an embassy that was supposed to cost $577 million to build, but the construction estimate has gone up by one third — and the State Department hasn’t even broken ground yet.
“It’s a bit of a fiasco,” said Rep. Jason Chaffetz, R-Utah.