A new brokerage service on Ecuador's coast sent some interesting news.
Though I am not much of a coastal person any more, I have been recommending investing on Ecuador's Pacific Ocean for several years. I have shown condos for under $25,000, Mediterranean houses with incredible ocean views for less than $50,000 and even a 38 acre parcel for $15,000! Yet one problem has been a reliable English speaking real estate service.
“Authorities at Manta port in Ecuador's Manabi province believe problems affecting the country's biggest port Guayaquil should increase the lure of Manta for international commerce and make a planned US$120mn concession more attractive.
Manta wants to more than triple cargo traffic from a current 12 international merchant ships a month once a concessionaire is operating the port, Manta port authority APM chairman Pablo Rosero told BNamericas.com. “We want to modernize and upgrade the port to serve as a major hub for the biggest ships from Asia before shipping smaller loads from Manta to ports around the South Pacific and Central America,” said Rosero. The Ecuadorian state is also committed to improving the inter-oceanic link with Manaus and other Amazonian towns in Brazil, which will further boost the port's attractiveness.
Rosero said industrialists from the country's highlands would be invited to a meeting in Quito on June 13, where he would outline some of the merits of Manta, in addition to its generous 12m draught at low tide. Bidding rules for the concession should be ready by early August with a new operator expected to take the helm in June 2002, he added. Meanwhile Guayaquil's problems stem from difficulties in securing a company to dredge the river port. The city's mayor has taken control from the port authority in the search of a dredging contractor. BNamericas.com”
Our coastal real estate tours focuses for several years on Manta and the areas directly north and south because of the economic impetus from the U.S. military base that has been added here. Mark may be a good source of contacts. There is also an excellent real estate development (the Med villas at below $50,000) by Jorge Loor firstname.lastname@example.org just north of Manta.
Until next message, good investing!