Hotel chains seek Baja California to invest
21/12/2010 20:22
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Tourism companies from Mexico, Spain and the United States plan to invest $11 billion dollars in 8 private developments to be built in La Paz, Baja California during 2011.
Reports of the Secretariat of Tourism indicate that this is a project of hotels and apartments that will strengthen the tourism real estate sector investment in the region for the next year.
With these developments, the government agency expects that construction of tourism real estate will recover, since in the first half of 2010, investment in this line fell by 43% over the same period of 2009.
The amount of investment made in the first six months of this year was of $670 million dollars, while a year before it reached $1,186.48 billion.
In 5 of the 8 entities listed by SECTUR as beach resorts, private investment also recorded falls of up to 75% over the same period in 2009.
In addition, SECTUR announced that the Spanish hotel chain RIU confirmed the construction of 12 hotels in various parts of Mexico, but without investment amounts.
The expansion of the Spanish firm in Mexico will take 12 to 18 months, according to the official agency. Interest of the firm in having presence in cities like Guadalajara, Sonora and Mazatlan is already known.
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Mostrando entradas con la etiqueta inmobiliarias-en-mazatlan/-. Mostrar todas las entradas
Mostrando entradas con la etiqueta inmobiliarias-en-mazatlan/-. Mostrar todas las entradas
miércoles, 22 de diciembre de 2010
jueves, 16 de diciembre de 2010
Infraestructure Funds In Latin America (Mexico)
Infrastructure Funds in Latin America
MAY, 2010
Countries in Latin America are expected to invest $450 billion USD in infrastructure assets between the years 2011 and 2015. These long-life assets are usually characterized by high development costs (design and construction) but low marginal costs of production and little to no competition once in operation. While the bulk of the investment is expected to be allocated to the surface transport and energy sectors, the water/sanitation and ports/logistics sectors are expected to see substantial increases in the current levels of investment.
All across the region, the public sector is often affected by budgetary constraints and lacks efficiency when it comes to building and operating infrastructure assets. That is why, with the help of loans and guarantees provided by governments and multilateral development banks, strategic and financial investors from the private sector are increasing their role in the provision of such public works and services. The private sector’s involvement is done through private finance initiatives, concessions and joint ventures.
Several countries, mainly Chile, Brazil, Colombia, Peru and Mexico, offer attractive projects complemented by a strong political will, consistent and comprehensive legal, regulatory and institutional frameworks, appropriate investment climate and infrastructure financing mechanisms. It should be no coincidence then that the infrastructure funds established in 2009 plan to allocate their capital in said countries.
These funds purchase shares in the project company and work with strategic investors (operators, construction companies) to maximize the revenue. This increases their equity value over time. Their performance is tied to the ability to generate and extract cash from the operating asset (dividends) or through refinancing. The exit strategy can be the sale of their stake to other members of the consortium that owns the project company, to third parties or to the general public through an IPO.
Ashmore Investment and Inverlink’s offer won the competitive bidding process organized by the Colombian government to manage what is now called the “Colombia Infrastructure Fund Ashmore I FCP”. This fund is backed by Bancoldex, Colombian pension funds, the Inter American Development Bank (“IADB”) and the Andean Development Corporation (“CAF”). Macquarie Capital Inc. acts as the technical advisor. The fund has plans to raise USD $S500 million and intends to make ten transactions in private sector led projects from different areas such as sanitation, transport and energy. Also, the private equity fund Fintra raised USD $S300 million and plans to make equity investments in transportation projects.
Toronto based Brookfield Asset Management closed an infrastructure fund in Colombia (USD $S320 million) and set up another one in Peru. The latter, expected to start up with USD $S500 million, is a result of a partnership with the local private equity firm AC Capitales and will receive commitments from Peruvian private pension funds and loans from the IADB and the CAF.
With the implementation of the “Growth Acceleration Programs” (PAC I and PAC II) and the World Cup and Olympic Games coming up in 2014 and 2016 respectively, investment in infrastructure projects for the coming years in Brazil is expected to be in the hundreds of billions of dollars. Brazilian investment bank BTG Pactual is setting up an infrastructure fund with capital raised from private equity sources that will focus on road, dam and port projects. Furthermore, the domestic conglomerate, EBX, announced early last year that it was planning to launch a USD $S5 – 10 billion infrastructure fund, possibly with Chinese and Middle Eastern investors.
At the beginning of this year, Macquarie Group announced the launch of “Macquarie Mexican Infrastructure Fund” with USD $S408 million in initial commitments from Mexican pension funds, the domestic agency for infrastructure development, FONADIN, and Macquarie.
Although no funds were announced in Chile, this country remains the leader in the region in infrastructure investments as a percentage of the GDP with 6%. This number is expected to increase after the devastating earthquake that struck the country on February of this year. Reconstruction costs are estimated in at USD $S30 billion.
One of many similarities among these countries that will benefit from infrastructure financing is that they allow domestic pension funds to commit capital to funds and to hold long-term debt issues. Pension fund managers are always interested in these assets since their long-term lifecycle closely matches their own long-term liabilities.
There are other factors that are essential to attract private capital into the infrastructure development business, including: an adequate risk allocation when drafting the contracts to avoid lengthy renegotiations, a proper selection of the work or service to be provided, a transparent and competitive bidding process, speedy dispute resolution mechanisms, oversight agencies free of any political interference, a properly designed subsidy support system to incentivize usage or demand and a consistent and comprehensive regulation of the contracts by which the private sector hais outsourced the provision of a public work or service. A careful analysis of the aforementioned countries shows that in one way or another they fulfill these requirements.
Exciting times are ahead in infrastructure development for those Latin-American countries that have been successful in attracting private capital. A successful implementation of the projects will undoubtedly help their competitiveness and their overall welfare. It is not a coincidence that the countries that can’t seem to attract private capital for infrastructure investing are also those that are finding it increasingly hard to finance the provision of works and services with public resources, resulting in substantially lower amounts of investment compared to the countries highlighted in this article.
Author Biography
Patricio Abal has a J.D. from the Universidad Católica Argentina and is a Master in Project Evaluation Candidate at UCEMA & ITBA in Buenos Aires, Argentina. He has worked at an Argentine law firm, the United States Senate, and at an Argentine venture capital firm.
www.tibesarealty.com.mx
www.tibesarealty.com.mx/wordpress/
MAY, 2010
Countries in Latin America are expected to invest $450 billion USD in infrastructure assets between the years 2011 and 2015. These long-life assets are usually characterized by high development costs (design and construction) but low marginal costs of production and little to no competition once in operation. While the bulk of the investment is expected to be allocated to the surface transport and energy sectors, the water/sanitation and ports/logistics sectors are expected to see substantial increases in the current levels of investment.
All across the region, the public sector is often affected by budgetary constraints and lacks efficiency when it comes to building and operating infrastructure assets. That is why, with the help of loans and guarantees provided by governments and multilateral development banks, strategic and financial investors from the private sector are increasing their role in the provision of such public works and services. The private sector’s involvement is done through private finance initiatives, concessions and joint ventures.
Several countries, mainly Chile, Brazil, Colombia, Peru and Mexico, offer attractive projects complemented by a strong political will, consistent and comprehensive legal, regulatory and institutional frameworks, appropriate investment climate and infrastructure financing mechanisms. It should be no coincidence then that the infrastructure funds established in 2009 plan to allocate their capital in said countries.
These funds purchase shares in the project company and work with strategic investors (operators, construction companies) to maximize the revenue. This increases their equity value over time. Their performance is tied to the ability to generate and extract cash from the operating asset (dividends) or through refinancing. The exit strategy can be the sale of their stake to other members of the consortium that owns the project company, to third parties or to the general public through an IPO.
Ashmore Investment and Inverlink’s offer won the competitive bidding process organized by the Colombian government to manage what is now called the “Colombia Infrastructure Fund Ashmore I FCP”. This fund is backed by Bancoldex, Colombian pension funds, the Inter American Development Bank (“IADB”) and the Andean Development Corporation (“CAF”). Macquarie Capital Inc. acts as the technical advisor. The fund has plans to raise USD $S500 million and intends to make ten transactions in private sector led projects from different areas such as sanitation, transport and energy. Also, the private equity fund Fintra raised USD $S300 million and plans to make equity investments in transportation projects.
Toronto based Brookfield Asset Management closed an infrastructure fund in Colombia (USD $S320 million) and set up another one in Peru. The latter, expected to start up with USD $S500 million, is a result of a partnership with the local private equity firm AC Capitales and will receive commitments from Peruvian private pension funds and loans from the IADB and the CAF.
With the implementation of the “Growth Acceleration Programs” (PAC I and PAC II) and the World Cup and Olympic Games coming up in 2014 and 2016 respectively, investment in infrastructure projects for the coming years in Brazil is expected to be in the hundreds of billions of dollars. Brazilian investment bank BTG Pactual is setting up an infrastructure fund with capital raised from private equity sources that will focus on road, dam and port projects. Furthermore, the domestic conglomerate, EBX, announced early last year that it was planning to launch a USD $S5 – 10 billion infrastructure fund, possibly with Chinese and Middle Eastern investors.
At the beginning of this year, Macquarie Group announced the launch of “Macquarie Mexican Infrastructure Fund” with USD $S408 million in initial commitments from Mexican pension funds, the domestic agency for infrastructure development, FONADIN, and Macquarie.
Although no funds were announced in Chile, this country remains the leader in the region in infrastructure investments as a percentage of the GDP with 6%. This number is expected to increase after the devastating earthquake that struck the country on February of this year. Reconstruction costs are estimated in at USD $S30 billion.
One of many similarities among these countries that will benefit from infrastructure financing is that they allow domestic pension funds to commit capital to funds and to hold long-term debt issues. Pension fund managers are always interested in these assets since their long-term lifecycle closely matches their own long-term liabilities.
There are other factors that are essential to attract private capital into the infrastructure development business, including: an adequate risk allocation when drafting the contracts to avoid lengthy renegotiations, a proper selection of the work or service to be provided, a transparent and competitive bidding process, speedy dispute resolution mechanisms, oversight agencies free of any political interference, a properly designed subsidy support system to incentivize usage or demand and a consistent and comprehensive regulation of the contracts by which the private sector hais outsourced the provision of a public work or service. A careful analysis of the aforementioned countries shows that in one way or another they fulfill these requirements.
Exciting times are ahead in infrastructure development for those Latin-American countries that have been successful in attracting private capital. A successful implementation of the projects will undoubtedly help their competitiveness and their overall welfare. It is not a coincidence that the countries that can’t seem to attract private capital for infrastructure investing are also those that are finding it increasingly hard to finance the provision of works and services with public resources, resulting in substantially lower amounts of investment compared to the countries highlighted in this article.
Author Biography
Patricio Abal has a J.D. from the Universidad Católica Argentina and is a Master in Project Evaluation Candidate at UCEMA & ITBA in Buenos Aires, Argentina. He has worked at an Argentine law firm, the United States Senate, and at an Argentine venture capital firm.
www.tibesarealty.com.mx
www.tibesarealty.com.mx/wordpress/
martes, 7 de diciembre de 2010
Firmas Will Invest $20,000 Million Dollars in Tourism Mexico
Firms will invest 20.000 million dollars in tourism
The National Tourist Business Council said the funds will be invested in 5 years, this plan would create 1.5 million jobs in the sector, said Pablo Azcarraga, president of CNET.
The investment of 20.000 million dollars in tourism genre 1.5 million jobs, according to industry sources. (Photo: AP file)
RELATED ARTICLES
The new "treasures" of tourism
Some 80 hotels and restaurants in five states of Mexico meet high quality standards. Mexico captures 9.000 million dollars for tourism
Foreign visitors spent 7.7% more in the first 9 months of 2010, compared to 2009. Mexico captures less investment from China in LA
Countries such as Brazil, Chile and Argentina received each year China's largest investment. Mark "Mexico" in Tourism: indispensable
Stop using the mark, as suggested by employers and states, was challenged by the industry.
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Business travel to the U.S. may be more productive if your inn is chic and functional.
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The tourists' favorite gadgets
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Technology for long trips
Equip yourself with these devices will become more pleasant hours on the road.
By: Francisco Rubio
MEXICO CITY (FORTUNE) - Despite being a difficult year in tourism , the companies of the sector plan a national agreement , where authorities are committed and entrepreneurs to increase tourist arrivals and pours economic.
"We have been slow to make this agreement , but it is a responsibility we take in an orderly manner. It is a challenge for tourism to grow and there is more investment in the country, "said Pablo Azcarraga, chairman of the National Tourist Business Council ( CNET ).
The body member companies expect to invest 20.000 billion in the next 5 years to regenerate the industry, infrastructure and new niches in the market .
"We have to think short term, I think we have to move away from the sun and beach tourism, we have many places full of traditions and cultures. It is a rich country and can offer more things to tourism, "said Azcarraga, chairman of Grupo Posadas, the largest chain of hotels in Latin America . He added that this figure will create up to 1.5 million jobs extra.
The employer said that this plan work in conjunction with the Ministry of Tourism and is expected to be launched before the end of the year.
CNET expected throughout this year 22.5 million tourists have visited Mexico, while total private investment reaches 2.300 billion, a figure far to 4.000 billion that was spent in 2008.
Problems in the north
Pablo Azcarraga said the hotel industry has had problems in the north of the country, so have had to close some small hotels and even reduce the number of rooms. He added that the industry of this strip of country reports an occupancy close to 40% on average, 30 percentage points over last year.
www.tibesarealty.com.mx
www.tibesarealty.com.mx/wordpress/
The National Tourist Business Council said the funds will be invested in 5 years, this plan would create 1.5 million jobs in the sector, said Pablo Azcarraga, president of CNET.
The investment of 20.000 million dollars in tourism genre 1.5 million jobs, according to industry sources. (Photo: AP file)
RELATED ARTICLES
The new "treasures" of tourism
Some 80 hotels and restaurants in five states of Mexico meet high quality standards. Mexico captures 9.000 million dollars for tourism
Foreign visitors spent 7.7% more in the first 9 months of 2010, compared to 2009. Mexico captures less investment from China in LA
Countries such as Brazil, Chile and Argentina received each year China's largest investment. Mark "Mexico" in Tourism: indispensable
Stop using the mark, as suggested by employers and states, was challenged by the industry.
APPROACH
15 new business hotels
Business travel to the U.S. may be more productive if your inn is chic and functional.
APPROACH
The tourists' favorite gadgets
For business or pleasure, technology helps you save time, space and money.
APPROACH
Technology for long trips
Equip yourself with these devices will become more pleasant hours on the road.
By: Francisco Rubio
MEXICO CITY (FORTUNE) - Despite being a difficult year in tourism , the companies of the sector plan a national agreement , where authorities are committed and entrepreneurs to increase tourist arrivals and pours economic.
"We have been slow to make this agreement , but it is a responsibility we take in an orderly manner. It is a challenge for tourism to grow and there is more investment in the country, "said Pablo Azcarraga, chairman of the National Tourist Business Council ( CNET ).
The body member companies expect to invest 20.000 billion in the next 5 years to regenerate the industry, infrastructure and new niches in the market .
"We have to think short term, I think we have to move away from the sun and beach tourism, we have many places full of traditions and cultures. It is a rich country and can offer more things to tourism, "said Azcarraga, chairman of Grupo Posadas, the largest chain of hotels in Latin America . He added that this figure will create up to 1.5 million jobs extra.
The employer said that this plan work in conjunction with the Ministry of Tourism and is expected to be launched before the end of the year.
CNET expected throughout this year 22.5 million tourists have visited Mexico, while total private investment reaches 2.300 billion, a figure far to 4.000 billion that was spent in 2008.
Problems in the north
Pablo Azcarraga said the hotel industry has had problems in the north of the country, so have had to close some small hotels and even reduce the number of rooms. He added that the industry of this strip of country reports an occupancy close to 40% on average, 30 percentage points over last year.
www.tibesarealty.com.mx
www.tibesarealty.com.mx/wordpress/
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