Energy investments drive real estate demand in Bolívar

Energy-sector investment in the country is driving up demand for property in Bolívar state, a growth that is unfolding in three phases according to statements by Francisco Piñango, president of the state's Real Estate Chamber, as reported by the outlet Banca y Negocios.

In a first stage focused on the short term, the real estate market is concentrating on housing for technical and executive staff arriving in the area, as well as corporate offices and commercial premises, the trade association leader said.

The second phase involves the search for warehouses, logistics centers and land for storing machinery and supporting the wave of investment, a segment that has a high supply of properties of this type in the region.

In the long term, the real estate sector expects to target large-scale industrial and tourism development, while the current market remains stable, with quality hotel services to host companies in the exploratory phase, Banca y Negocios reported.