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Historic Center: Tourism May Have Investors



The Legislative Assembly considers proposed legislation to create the authority of the historic center.  /DEM

The Legislative Assembly considers proposed legislation to create the authority of the historic center. /DEM

The Ministry of Tourism would have already identified potential investors in San Salvador’s historic center, primarily in food and restaurant businesses.

Morena Valdez, branch manager, indicated that the company is working on an assessment of the historic district’s real estate supply to estimate the amount of investment needed to revitalize the area’s tourism.

The investment takes place within the framework of the implementation of the planning authority of the historic center of San Salvador, whose creation law is being discussed in the Legislative Assembly.

Interested by some businessmen, such as hotels and restaurants in the historic center, but first they need to organize themselves. ” Minister of Tourism Morena Valdes

property owner.

Potential investors include property owners. “There are a lot of investor owners who have lost interest in things like older buildings.

We have had cases of people who inherited it from their grandfathers and are now interested in seeing how they invest,” said Molina Valdes.

Officials assured that the main purpose of the agency’s establishment was to order and encourage investment in areas delimited by law.

In addition, tax incentives are provided for those who invest in commercial and tourism activities. “We know that what investors need most is to make the process easier and obviously reduce the time of these processes,” he said.

I have to say that not all vendors currently have the option of locating in a fixed way, they are moving. ” Anabel Belloso, FMLN Deputy Director

embargo proceedings.

The proposal would authorize the authorities to initiate legal proceedings for the debt, which could lead to a property seizure process.

Faced with this situation, Nationalist Republican Alliance (Arena) deputy Rodrigo Avila asked what the procedure would be for properties already in dispute. will consider some mechanism within Title II to attempt mediation, attempt settlement, and attempt to resolve disputes over disputed property,” he said.

The minister said the judicial process initiated would be respected.

Farabundo Marti National Liberation Front (FMLN) Deputy Anabel Veloso asked if the plan included a property option for informal sellers.

If the law is approved, the Tourism Board expects the Historic Areas Authority to begin operations within about two months.

Proposal for the creation of administrative powers

The San Salvador Historic Center Authority’s proposal aims to create an autonomous entity responsible for the qualification, processing and approval of permits for economic, tourism and cultural development.

July 18, 2008
Decree No. 680 was issued with the declaration of the perimeter of the historic center of the city of San Salvador.

March 6, 2023
The Ministry of Tourism and Culture has introduced a bill for the creation of the San Salvador Downtown Authority.

Source: Diario Elmundo

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