“BUT ABOVE ALL, WE ARE SEARCHING FOR OPPORTUNITIES THAT PROMOTE BETTER LIVING CONDITIONS FOR THE COMPANIES WHERE WE OPERATE AND CONTRIBUTE TO THE SUSTAINABLE DEVELOPMENT OF THEM” JUAN LUIS BOSCH GUTIÉRREZ – CMI CAPITAL
TABIQUE TO TABIQUE
On the other hand, the Multi-project Business Unit focuses on real estate development in Guatemala. Throughout its more than 25 years, this area has exceeded one million square meters of homes and shopping centers built.
It currently has 13 shopping centers throughout the country and serves more than 600 small and medium businesses (tenants). It has commercialized four corporate projects representing 1,200 offices; the most iconic is Zona Pradera, in Zone 10 of Guatemala City, where many of the CMI offices are located. To this must be added that at this time there are 13 housing projects, of which four are in commercialization.
Pradera in Zacapa is the 12th Multi-project shopping center. This development has more than 69 commercial premises and 20 kiosks in an area of 14,800 m2, as well as a green area of more than 1,500 m2; It required an investment of 16 million dollars and was inaugurated in October 2019.
The other big project is Pradera Vistares, located in the capital city. It is a mixed commercial project that includes two apartment towers (in the stage of finishing, deed and handover to the owners) and the Pradera Vistares shopping center (opened in November 2019); His investment amounts to $ 70 million.
In addition, an apartment building is under development located in Zone 10 of Guatemala City called IQ10, whose delivery is scheduled for the second half of 2022.
On the other hand, San Isidro 2021 tower II is in the construction phase and will begin the deed and delivery process from the last quarter of this year.
The housing projects have been focused on Guatemala City, while the commercial part has gone to other Guatemalan cities. For now, there are no plans to venture into other territories, so CMI Capital is focused on consolidating itself in the country of the quetzal, although it does not rule out doing so in the medium term in other parts of Central America.
The incursion into social housing and road infrastructure is also on the table.
IN THE CAPITAL MARKETS
Many of the real estate and energy projects would not be possible without the Finance unit of CMI Capital, charged with the financial enablement for the growth of the company. Currently, it only feeds on the resources of shareholders and CMI’s businesses, so its challenge will be to diversify the sources of funding for the group, to strengthen the equity base of projects and businesses, and therefore investments. .
“See you in the next few years in the international debt markets [like New York]. I do not see the decision on making the company’s share capital markets available in the short term, but the group is now ready to access the international capital markets, ”says Enrique Crespo.
Throughout its 100 years, CMI has demonstrated its ability to adapt and read new opportunities, as well as to impact the community. And precisely these characteristics of its DNA will be vital to achieve success in its expansion into the United States, the Andean region and the Caribbean.
