In recent weeks, many national and online newspapers have reported the arrival of the Pueblo Bonito Group to San Miguel. This is a development that includes a hotel and 45 residential units to serve the tourist industry here in the state of Guanajuato.
According to the company, San Miguel is one of the cities with the greatest tourist potential. Its colonial style and culture have captured the attention of travelers, both national and foreign. This marks a trend in which the real estate sector has found important market opportunities.
«According to data from the State Tourism Observatory (OTEG), from January to September 467,521 tourists visited the city. This generated income of just over 4,561 million pesos, a figure 48% higher than that registered in the same period of 2021. In this way, the real estate market has found a formula to deal with the demand of foreigners: luxury residential homes, with the potential for vacation rentals.» (El Economista).
Pueblo Bonito, with investments in places such as Los Cabos, is located near Zeferino Park, below Colonia San Luis Rey. The complex had a 1,450 million peso investment, plans to open in 2023. According to developers, the project will create more than 350 direct jobs, and 1,500 indirect jobs, through partnerships with local suppliers.
«One unique characteristic of the luxury residences of Pueblo Bonito in San Miguel de Allende, are the rental models. According to Alberto Coppel, general director of Pueblo Bonito, those who purchase any of the units will have the option of entering a rent program managed by the complex. The income generated will be divided 60% for the owners and 40% for the firm.» (El Economista). Alberto Coppel states that according to digital sources, such as Debate and Dinero, the project will be mixed-use. Hotels, residential, and commercial developments will benefit from the participation of both private and government initiatives.
The newspaper El Economista reports that Guanajuato has another challenge: the scarcity of water. According to the Drought Monitor of the National Water Commission (CONAGUA), eight of its municipalities (17.4% of the total) have some degree of drought, and seven have severe drought. “The great challenge here has been water. San Miguel de Allende has an opportunity in this area. Corazón District is looking for alternatives together with the government to take care of the supply. You have to be very careful with that, but I don’t think real estate development will stop because of this, as long as it is orderly and is done responsibly by everyone,” Coppel stated.
Sources: El Economista, Reforma, and the digital magazines Debate and Dinero.
