Consortium Centro America Abogados advised GRUPO UBICA and URBANISA in housing project in El Salvador
August, 2012 - San Salvador, El Salvador
Consortium Centro América Abogados – El Salvador advised URBANISA, a subsidiary company of the Guatemalan developer, GRUPO UBICA, in the housing project “LAS LUCES”, which consists in an upper middle class private residential development located in Zaragoza, La Libertad.
GRUPO UBICA is dedicated to developing real estate projects in Central America with the highest quality. For over 25 years they have developed residential projects, shopping centers and buildings that have been recognized with awards for excellence.
In 1994 GRUPO UBICA introduced the concept of "gated communities with homes" in Guatemala with the successful project “LAS LUCES”, which is distinguished not only for its modern architecture and extensive landscaping, but by introducing a new lifestyle by creating a community.
Now, they have recreated the same concept in El Salvador, which was inaugurated on August 2012.
Consortium Centro America Abogados - El Salvador provided assistance through a wide number of specialists in various fields and practices, among which we refer to the following: Real Estate Law, Environmental Law, Administrative Law, Municipal Law, Tax Law, Notary Law and the Firm also supported GRUPO UBICA during the process of the bank financing of the Project.
The approximate value of investment and the project in El Salvador is U.S. $ 17,000,000.00, which is one of the largest foreign investments of the current year.
The leading lawyer and partner of the Firm, responsible for handling the account of URBANISA and GRUPO UBICA, Dr. Diego Martin Menjivar commented: "For Consortium Centro America Abogados is an honor to have supported and continue advising GRUPO LOCALIZA and URBANISA during the development of this project which was recently inaugurated, in particular because of the investment that was required which reaffirms the confidence of foreign investors in our country."
