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Gov’t promotes sale, lease of 1,000+ industrial properties in P.R.

PRIDCO Executive Director Manuel Laboy.

Dozens of entrepreneurs and businesses participated in the Puerto Rico Industrial Development Co.’s real estate open house held to promote the sale and leasing of properties to turn them into productive, job-generating properties, agency Executive Director Manuel Laboy said.

PRIDCO’s inventory comprises 1,526 leasable properties spread throughout 220 industrial parks, spanning 23 million square feet.

“We have an inventory of 39 vacant buildings and 16 lots around the island, which are not generating profits,” Laboy said.

“We’re presenting them as alternatives for the start or growth of businesses and companies, which can turn them into productive spaces and create jobs in different towns. Our goal is to sell or lease all the properties and lots, so that they work in favor of Puerto Rico’s economic development,” said Laboy.

Given the nature and conditions of such properties, part of the real estate promotion strategy includes a special incentive in lease fees, he said.

“This represents a great advantage for entrepreneurs who want to start a business or expand operations, because they get a more competitive fee when signing their contract,” Laboy said.

This initiative will also benefit the government, he said, since it will generate revenue that currently does not exist, the risk of damage, deterioration or vandalism in the property will be reduced, and maintenance, improvement and security costs will be reduced.

The properties that are being promoted are located in: Dorado, Moca, Yabucoa, Sábana Grande, Morovis, Ciales, Humacao, Mayagüez, Luquillo, Arecibo, Cabo Rojo, Barceloneta, Salinas, Lares, Ponce, Aguadilla, Toa Alta, Rincón, Vega Baja and Vega Alta.

Specific information about each of the properties is included in a directory accessible at www.businessinpuertorico.com.

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This story was written by our staff based on a press release.

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