San Salvador - El Salvador is set to embark on an ambitious construction project, with five new skyscrapers over 35 stories slated to be built in 2025. These towering structures are poised to become new landmarks, symbolizing the country's architectural advancement and economic growth.
According to Luis Rodríguez, executive director of the Metropolitan Area Planning Office of San Salvador (Opamss), the first four of these high-rise buildings, either residential or corporate, will be officially unveiled in early 2025. One of these projects, announced by President Nayib Bukele, will be undertaken by Tether, a company that recently relocated all of its operations to El Salvador. The fifth skyscraper is in the pipeline for development by Inversiones Méndez Miller.
These buildings will not only be the first to benefit from the recently approved legislative incentives, including corporate tax exemptions, but will also elevate El Salvador's architectural standing in the region. Rodríguez believes these projects will put the capital on the regional architectural map.
While the height of a building isn't solely determined by the number of floors, but rather by its design, these proposed skyscrapers, to be built in Zona Rosa, Santa Tecla, and San Salvador, are expected to surpass the current tallest building in the country, Millennium Tower, which stands at 125 meters and 24 stories.
The combined investment in two of these five towers is a staggering $500 million, marking an unprecedented level of investment in the country's construction sector. One of these investments is foreign, while the other is from local developers.
"We managed to close 2024 with the corporate decision of two companies to build two towers over 35 stories. This month, one more was added, and the other announced by the president is set to begin its paperwork this January. The important point is to measure the time from the law's approval by the Assembly to the corporate decision-making, which was done quickly and will motivate others to join. In January, we will announce the third," Rodríguez added.
With the support of Opamss, companies have redesigned the structural and architectural aspects of their projects to maximize the benefits offered by the government.
"Once there is a decision, the numbers are in place, and the law is clear, we only need a couple more meetings to start the paperwork process. These are issues of accelerating investment in a short time that contribute to the economic miracle that President Nayib Bukele has proposed for the current five-year term," Rodríguez affirmed.
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