El Salvador is seeing a wave of private sector confidence, with numerous national companies expanding operations and launching new ventures, thanks to the favorable legal and social environment created by the government of President Nayib Bukele.
One prime example is Grupo ECON, a leading Salvadoran construction company, which recently launched its real estate developer, Inmobiliaria Puntto. The company’s first major project, Centré Apartamentos, is a new vertical housing development located in the Historic Center of San Salvador, valued between $20 and $25 million.
Carlos Grassl, president of Grupo ECON, shared that after 50 years in the construction industry, the company decided to venture into the real estate market, specifically vertical housing. He emphasized the favorable conditions and government support, particularly in securing permits. Grassl noted that both the private sector and the government are aligned in promoting investments to drive economic development and create jobs.
“We believe that we are pioneers in this type of project in this location, and the country’s resurgence creates a virtuous cycle that benefits both the nation and the company,” said Grassl.
Looking ahead, Inmobiliaria Puntto plans to launch additional developments in 2025, including residential, industrial, and logistics projects. Grassl also highlighted plans for further developments in the Historic Center and the southern part of the city, which is seeing significant real estate growth.
The positive trend is reflected in national statistics. According to the National Registry Center (CNR), 4,497 new companies were registered between January and October 2024, representing a 34.6% increase compared to 2023. This growth reflects the stability and confidence generated by the current administration.
Government officials attribute this surge in business activity to the clarity in regulations and the improved social and economic landscape under President Bukele’s leadership, which has helped reshape the country’s image both locally and internationally.
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