San Salvador, the capital and the largest city of El Salvador and its eponymous department, located in the Salvadoran highlands on the slopes of the Quetzaltepec volcano in the El Valle de las Hamacas valley, the country’s largest agglomeration, serving as the nation’s political, cultural, educational and financial hub is experiencing a rebirth of its historic centre which is attracting foreign investors, thanks to the security and revitalization plans promoted by the Government of President Nayib Bukele.
The historic core of San Salvador highlighted by its imposing squares, as well as its iconic sites like the most important National Theatre in the country, the Metropolitan Cathedral and the National Palace has taken an impressive turn, going from being one of the most unsafe areas of the nation's capital to become an important tourist destination and a notable attraction for national and international investors.
The vibrant capital of El Salvador with a mix of historical, cultural and natural attractions offers a blend of cosmopolitan experiences and authentic Central American charm, making it a worthwhile destination for travellers as well as capturing the interest of businesses with the desire to invest.
In an interview with Diario El Salvador, an important Salvadoran newspaper, Julio Escalante, a Spanish investor in the real estate sector, said he arrived in the country a year ago attracted by the initiatives favorable linked to the Bitcoin ecosystem, where he also invests. However it was his visit to the Historic Centre of San Salvador that finally motivated him to invest in the hospitality sector in the city.
The businessman said that during his stay in San Salvaor explored investment opportunities in different areas, with the support of the Ambassador of El Salvador in Portugal, Rhina Bardi, Invest in El Salvador , the Ministry of Tourism and other key players spending a couple days visiting the Historic Centre of San Salvador and what he saw, the arrival of companies, and the remodelling and development of the tourism industry changed his opinion and led him to decide to invest.
After reviewing several properties, the Spanish investor found “magic” in a building located next to Hula Hula Park close to Plaza Hula – Hula square, the suburb Barrio El Centro as well as near Barrio San José,.
This urban area is known for its vibrant atmosphere and taking its name name from the popular “Torta Hula Hula”, a type of sandwich, similar to a Mexican torta consisting of submarine – style bread roll filled with a combination of meats, vegetables and traditional Salvadoran toppings sold by the street food vendors of the area.
The property totally revitalized by the Salvadoran government will be converted into Hula - Hula Apartments, a seven - story building with 37 studio apartments that will be offered through digital accommodation platforms such as Airbnb and Booking.
The Spanish businessman and six other investors established a joint venture that will invest $1.7 million, including equity and external funds for the acquisition and development of the project.
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Thanks a lot to read and note.