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29 minutes ago, Mijo said:

Radisson, Pancho’s, La Pueblita and others remain unfinished. Water issues? Lack of funding? 

Unfinishd projects have been common in Mexico for years for various reasons especially if the funding is from Mexican sources.

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19 minutes ago, cedros said:

Unfinishd projects have been common in Mexico for years for various reasons especially if the funding is from Mexican sources.

I've often wondered about this. It's amazing the number of gas stations that have been started and almost finished but after years still remain closed.

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We were actually talking about this this morning.  Where else have you lived where homes get partially finished, then abandoned.  Commercial buildings the same thing.  Not to mention construction that appears to be finished but never occupied.  I guess you would have to want to make money to finish them.

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On 4/11/2022 at 5:28 AM, Mijo said:

Radisson, Pancho’s, La Pueblita and others remain unfinished. Water issues? Lack of funding? 

This is common. We saw lots of this throughout Latin America and elsewhere in the Caribbean. Looking at real estate 25 years ago it was explained to  us that  this was a financing.situation.  In residential property it was common for a started construction to change hands several times before being completed. In many countries where there was no financing available a couple would buy a lot and pay it off.. Months or years later when they had saved enough they would buy couple of bags of concrete and a dozen concrete blocks. These would be assembled then project would sit unfinished until more money was available. The beauty of this type of construction is that it can sit with being "dried in" as we would say without deteriorating for quirt a while. This was a good solution to a lack of mortgages and it used to be much more common.

The same thing happens in commercial projects. They get initial construction loan and fail to meet progress points and the money dries up. Someone will eventually finish it or maybe the next one.  

Gas stations and some other projects stall for years with their "permits being approved" or sufficient cash incentives paid. The Walmart intersection off the state highway is one such problem. Since the state seems to have met it's commitment and built the intersection with a traffic light but it is being blocked by the municipality, the problem is not with the state.  US companies are at a dissadvantage  as US law seeks to punish them for paying these cash incentives to get to operate in foreign countries. They have accessed large fines on companies caught paying these fees and pursued executives with criminal indictments for this activity in other countries. This puts US companies at a disadvantage in countries where is the norm.

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After many devaluations of the peso, many years ago, Mexicans and others have come to view any kind of real estate as the only guaranteed investment. So any savings get put into building up the investment, one brick at a time. 

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Large projects might change ownership multiple times before they get completed due to funky financing.  Many projects always have a slightly unfinished look to them (like rebar sticking up) because, if still unfinished, I've been told the taxes are lower.  It can be hard to tell if a place is under construction or so old that it's falling down...they look similar.

Alan

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24 minutes ago, barrbower said:

Large projects might change ownership multiple times before they get completed due to funky financing.  Many projects always have a slightly unfinished look to them (like rebar sticking up) because, if still unfinished, I've been told the taxes are lower.  It can be hard to tell if a place is under construction or so old that it's falling down...they look similar.

Alan

Yes the rebar sticking up = lower taxes and that's why you see so much of it all over Mexico.

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