Mazatlan sees positive outlook for real estate development in 2024

Mazatlan sees positive outlook for real estate development in 2024

MAZATLAN, SIN - Ismael Tirado, president of the Mexican Association of Real Estate Professionals (AMPI) Mazatlan, informed that there is a good projection for the industry, since more than 10 developments are expected to be approved, including vertical, industrial and housing developments.

Regarding vertical infrastructure (tourist market), they are presented in different areas such as the Historic Center, Cerritos, Marina, among other locations, while residential properties are built in the north of the city.

"For the next 2024, as far as real estate development is concerned, there are only 10 more awaiting authorization (…) There is still movement, if we feel a little slowdown in the speed of sales, but it is still selling quite well," he said.

The executive said that they have been addressing the issue of public services in view of the growth of buildings, as they have received comments from the mayor about the backlog detected in the entity.

In view of this situation, he emphasized that they will have to work on drinking water, drainage and urban mobility issues so that they go hand in hand with development and so that there are no problems later on.

Currently, 148 projects are under construction, of which 86 are vertical buildings and the rest are residential, commercial and industrial plazas.