The construction sector in El Salvador is rapidly gaining momentum as a prime area for investment, particularly for international companies. Advanced Building Systems, a U.S.-based construction firm specializing in real estate infrastructure, ranging from single-family homes to 11-story buildings, is poised to create approximately 2,000 jobs upon initiating operations in the country.
The Investment Promotion and Exports Agency of El Salvador (Invest) has announced that executives from the American construction company, Advanced Building Systems, have scheduled a visit to El Salvador before the year’s end with the intent of establishing operations in the country and providing construction services in the housing sector.
This announcement was made during an official mission led by Salvador Gómez Góchez, President of Invest, in Los Angeles, California. The mission included meetings with both American entrepreneurs and Salvadorans abroad (Salex) interested in investing in the country.
During these meetings, Alex Youssef, the director and founder of Advanced Building Systems, expressed his company’s keen interest in investing in El Salvador. “We are very excited… to explore opportunities to invest in your country, to allow our technology and construction processes to help meet the demand for construction and housing. We feel deeply honored to be invited to visit El Salvador,” stated the entrepreneur.
Youssef revealed that if they establish themselves in El Salvador, they anticipate investing between $20 and $30 million to fulfill local demand and cater to countries in the Central American region. Additionally, they plan to hire approximately 2,000 employees in their initial round of operations.
“I am thrilled to visit El Salvador for the first time, to get to know its people, and to explore ways to invest. I greatly appreciate the opportunity I will have to visit,” he reaffirmed.
Youssef explained that his company specializes in constructing an entire manufacturing infrastructure, from single-family homes to 11-story buildings, suitable for residential, commercial, or hotel use. Furthermore, the company manufactures a wide range of materials in its factory, including cabinets, flooring, plumbing, electricity, and more. This streamlined approach allows construction projects to be completed faster than estimated, providing quicker solutions.
“We recognize the impressive work of President Nayib Bukele in his administration, allowing investors to come and establish themselves in the country. By reducing crime and fostering trust, he makes investors feel secure, which is part of our motivation to bring our brand to El Salvador,” he pointed out.
Gómez Góchez welcomed the company to El Salvador, stating that Invest will showcase a plethora of investment opportunities, including the incentives offered by the government, such as the new Law on Free Zones and International Services, among others.
“The California-based company has a desire to invest in El Salvador in the construction of housing and large-scale buildings, with the possibility of exporting its products to Central and South America,” Gómez Góchez concluded.
As El Salvador continues to attract international investors, the construction sector appears set to play a pivotal role in driving economic growth and job creation within the country.