Lands Authority: ‘There’s plenty of land to be developed’
Puerto Rico Lands Authority Executive Director Luis Rivero-Cubano recently told members of the Associated General Contractors that there are plenty of business opportunities for the sector to develop residential, tourism and commercial properties throughout the island.
During a presentation during the group’s monthly luncheon this month, the government official said there is land available for development in areas including Ponce, Aibonito, Quebradillas, Luquillo, Humacao, Guánica and Guajataca.
“At a time when the economy and financing constraints hinder the development of major urban projects in most of the cities of the world, it is important to identify options so that our urban properties assume a role in the city and do not remain as vacant lots that depress the image of its context and affect safety,” Rivero-Cubano, a former Agriculture Secretary, said.
“It is important that the government explores ways to use or develop its properties to promote some activity, while continuing its efforts to promote the large-scale urban initiatives to which they are accustomed,” he said.
During his presentation, Rivero-Cubano also noted his interest in properly conserving properties of high historical value, such as the restoration of the Former Casa de Pedro de Castro and the rehabilitation of the Paramount Theater in Santurce.
Meanwhile, AGC President Raúl Brás told group members that Rivero’s presentation was in line with the strategy in place to offer relevant and opportune information about business opportunities available to the sector.
“Today, it’s Rivero-Cubano’s turn, as he heads a public corporation responsible for promoting orderly economic development of one of the most precious natural resources, land,” he said.
The AGC represents more than 350 companies that generate 80 percent of the island’s construction activity, contributing more than $6 billion.