TULUM, Mexico – The Mexican Association of Real Estate Industry (AMII) has reported a surge of a thousand active construction projects in Quintana Roo, marking a significant development in the region’s real estate landscape.
Luxury residential construction takes the forefront in these ongoing projects, showcasing the growing demand for high-end housing in the area. Despite industry challenges, such as labor shortages, rising prices, and more expensive credit options, the state of Quintana Roo continues to attract substantial investments.
Wilberth Gutiérrez Álvarez, the President of AMII, shed light on the booming construction scene, particularly in Tulum, where an impressive 400 projects are currently underway. However, he acknowledges that various hurdles still need to be addressed to facilitate greater capital inflow.
“Technology plays a pivotal role in real estate development, with the need for government transparency and digitization of processes,” Gutiérrez Álvarez emphasized. Quintana Roo offers favorable conditions for real estate purchases, and there’s a significant interest from entrepreneurs and authorities to invest in the southeastern Mexican region.
In this context, urgent steps are required to regulate environmental impact and the issuance of construction licenses and permits. “Improving this situation will provide investors with greater certainty, further benefiting the region,” noted the expert.
He also highlighted the need for streamlined procedures, as current bureaucratic processes can take up to a month. Implementing online forms and applications could potentially reduce the processing time to a matter of hours. “This is just one-way technology can facilitate procedures, streamline processes, and cut costs,” he remarked.
Finally, Gutiérrez Álvarez urged authorities to ensure mobility, the construction of bridges and roads, and the improvement and maintenance of highways. Additionally, he stressed the importance of ensuring the availability and quality of essential services such as water, electricity, and drainage.
As Quintana Roo continues to witness a surge in construction projects, addressing these challenges and embracing technological advancements will be pivotal in sustaining and enhancing the region’s real estate sector.