I just received a message from eClub advisor Andres Cordova in Quito that I want to share with you.
“For many years there has been a project for the construction of a new international airport for Quito. This project has re-surfaced from time to time, but now it appears to be on a roll, and many people donｴt realize to what extent. Asking prices for land around the zone where the airport will be constructed are still quite low. But this will change soon.
10.000 acres has been reserved for the airpoport itself in a zone 45 minutes from Quito, in the far reaches of the Tumbaco Valley. The construction of the new international airport will bring in an investment of more than 350 million Dollars. It is very important to note this zone has practically nothing right now in regards of development or infrastructure, so the turnaround is going to be huge.
Right now land can be bought near such premises for a low price, as people donｴt yet grasp the inminence of the construction. Asking prices right now are at about $1.2 per square feet ($12 persquare meter). I have been asked for $14 per square meter in some cases.
As soon as signs regarding the construction of the new airport are given, prices there will begin to rise if not soar. I believe such signs will be given in a few months time. The airport should begin construction in a short term, probably before two years. It may even be before one year.
New highways have to be built to serve the airport and a great deal of infrastructure has to be implemented.
Considering all this, it is an educated prediction that prices will rise steeply in a short time. If we buy at $1.2 per square feet, it is possible that prices will double in a year’s time, and turn three-fold in a couple of years. This is the potential I believe there is.
Better even, I have found some opportunities with prices that may be as low as US$ 0.7 per square feet ($7 per square meter). This low price not only would allow a much higher profit, but in any case provide any investment with a very respectable buffer zone, should anything happen.
The 10.000 acres reserved for the airport are surrounded in about 80% by deep passes or crevaces. Most of the highways, infrastructure and development are going to be laid or had, obviously, to the part of the premises that is not encumbered by such deep passes. The properties I have located are exactly to this side.
The project for the new international airport is on a roll, but this has not been much advertised right now, due to several reasons I can explain. However, it appears that in a few more months some very important signs will be given, that will give people certainty about this project. Obviously, the best deals are to be made before this happens.
Right now I have pinpointed two excellent purchase opportunities, one is a 5 acre property and the other a 3.2 acre property. Both are very conveniently located, at a distance of about a mile from the premises of the new airport. Asking prices are of US$ 8 per square meter ($0.8 per square feet) but we may get them lowered to $7 per square meter. I consider that buying at a price of US$15 per square meter should be a good investment, so buying at half as much I consider to be excellent.
Asking price for the 5 acre property is of $160.000, and for the 3.2 acre property is of $104.000, we may get this prices a little bit lowered.
The new airport will bring several investments to the zone like restaurants, shopping malls, hotels, wharehouses, offices, etc. All this, added to the new highways and so forth, will no doubt make the price of land come up big time in that zone.
Apart from these two pieces of land I have found, there may be some other good opportunities left.
We have a window of opportunity of about two months to make the best deals. In any case, for this specific two I have set forth, we may have a bit less time, for the asking price is quite low.
I can send much more information, including maps and pictures.
Any of you who are interested in gaining more information can contact Andres direct at email@example.com.
Andres will speak at our upcoming International Living real estate tour May 3 to 11
Until next message good global investing!