Real estate developers join forces to build a ‘KIA motor city’ in Nuevo Leon
Four real estate developers unveiled in recent days a project to build the “Ciudad Modelo KIA” (KIA Model City) in the municipality of Pesqueria, Nuevo Leon, which includes the construction of low and medium income housing for workers of the Korean assembly plant and its suppliers.
The project would run for six years, and in a first phase, the estimated investment would amount to US$125 million, a figure that would quadruple at the end of the time frame. The idea is to build a city within the municipality that has housing, shopping centers, hospitals, hotels and schools, revealed to El Financiero paper Pedro Salazar, director of Terralquimia, one of the development firms involved in the project.
The project is supported by the municipality of Pesqueria, which would provide the basic infrastructure. The manager commented that the location is yet to be defined, but in one or two months, the complete project would be detailed.
“The project is hardly being developed, but the intention is that all of KIA workers, as well as its suppliers–from managers to operators–to live in Pesquería. So, we are seeing how we integrate this whole project joining forces (municipality, Kia Motors, suppliers and the four developers),” said the official.