The first phase of construction of the mega development, which will incorporate residences, medical clinics, shops and offices, begins shortly.
During this first phase of Paseo Cayalá, complete construction of which will take 15 years and consist of 63 hectares, houses, shops, restaurants, jewelry stores, and barber shops, among other things will be constructed in 7.2 hectares.
Behind this ambitious project is Cayalá Group, which for the past three decades has been devoted to developing condominium homes in exclusive areas around the capital.
An article in Elperiodico.com.gt states: "Juan Carlos Salazar, director of research firm Global Real Estate Inspections, said it is a bold initiative that is trying to find new symbolism in the country’s housing market.
"They did not take the easy road, which would have been to keep developing gated condominiums, an area where they were doing very well, but instead have decided to take a risk and change the type of product they offer which will give them good results," said Salazar. "
Source: elperiodico.com.gt
More on this topic
August 2011
Property Developer Cubitá will begin in September a project by the same name in the Province of Herrera, Panama.
The works include the converting five acres into land suitable for residences, a shopping mall, condominiums and a hotel, the construction of which is expected to be completed in late 2012.
September 2011
The company Urbánica Desarrollos Inmobiliarios plans to develop an residential project, known as Portal Canarias in a 15.7 hectare area in El Espino.
The project, which includes four residential condominiums, will generate about five thousand jobs both direct and indirect, said Alvaro Barraza, Commercial Manager of the project.
March 2010
It is called ‘Paseo de las Casas’, it is located in the province of Coclé and includes luxury residences and a golf course.
Construction of the first phase has already begun, comprising 4 apartment buildings. As for the golf course, it will feature 18 holes, and is expected to cost $18 million.
March 2010
$20 million will be invested in developing 350 new residences.
Marta Molina, spokesperson for Royal Decameron Golf Beach, Resort & Villas, explained they will also invest in enlarging the hotel and building a shopping center.
Prensa.com reports: “the mall will boast 30.000 square meters of commercial space”.
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