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TOURISM INVESTMENT PROJECT IN PRIME HERITAGE REAL ESTATE IN THE HISTORIC CENTER OF QUITO, ECUADOR

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November 20, 2013 (www.investorideas.com newswire) Quito, the capital of Ecuador, is implementing several projects with high economic impact developed by the Municipality of the city, such as the new airport Mariscal Sucre, Quito's Metro, the New Convention Center, Industrial Parks as well as the Historical Center Revitalization Program. This last one aims to preserve, maintain and enhance the historic center of the capital, one of the largest and best preserved in Latin America. This program’s goal is to enhance the image of Quito which estimates a 5% annual growth in tourism. It focuses on strategic drivers including actions in the social, cultural, educational, economic, tourism, security and public space fields.

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The first phase of this ambitious program comprises $83 million through 2017, and it includes an overall investment of approximately $675 million. The investment in five Heritage Houses located near to the main tourist attractions of the historic center of Quito is part of this investment project which aims to boost the tourism offerings in the area.

The Municipality of Quito, through its metropolitan company , invites the private sector to participate in the expression of interest process aimed at locating investors who wish to invest and implement their tourism business in any of the five heritage buildings. The time of alliance that would remain with the municipality range between 10 and 45 years.

Casa Perez Pallares

It is located in the Independence Square - Main Square of Quito's historic center. This property was recognized by UNESCO as one of the best heritage buildings in Quito downtown. It is a four story house and it is an ideal place for building a first class hotel. Until 1975, Hotel Imperial was run in this house. The estimated investment is approximately four and a half million dollars.

Hogar Javier

This is a four story house with a breathtaking view of the Quito historic center. It was designed by the famous architect Karl Kohn in 1930. It has the ideal space for building a first class hotel. The estimated investment is approximately five and a half million dollars.

Casa Cadisán

It has a historical wealth. This property was built in the XVI century and belonged to the Spanish conqueror Diego Sandoval. Its exquisite construction makes it unique and invaluable. It is ideal to be used as a restaurant and/or exclusive events lounge. The investment value is approximately more than one million dollars

Casa Mejía

It was built in the XVI century. This is a three story property with two central courtyards. It is located 100 meters from the Independence Square. The estimated investment is one and a half million dollars.

Casa García Moreno

This is a two story property with a central courtyard. It belonged to the ex President of Ecuador, Gabriel García Moreno. It is located in Santo Domingo Square, one of three most important squares in the historic center of Quito. It is recommended to build a first class hostel in this building. The estimated investment value is approximately four and a half million dollars.

Quito Tourism, in its efforts to ensure the preservation and maintenance of the five heritage houses, as well as aiming to boost the tourism offerings of the area, invites the private sector to join this public-private initiative and participate in the samples of initial expression of interest of this project.

For further information, please visit: www.quito.com.ec/inversiones

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