Construction of the first tower of the Grand Bay Manta real estate project will begin earlier than expected

Millenium laid the first stone of the project in Barbasquillo that plans to generate more than 600 direct employment positions. The initial investment is $24 million.

Manta, MANABÍ

The work to structure the first tower of the Grand Bay Manta real estate complex began with the laying of the first stone of what will be the first of four towers of this project by the Millenium company.

Although in the first instance those in charge of this real estate initiative located on the road to Barbasquillo, the area with the greatest capital gains in Manta, located in the east of this city, intended to start work between November and December 2022, the executives took step four months before.

Pablo Campana, executive president of the Millenium real estate company, said that this advance in the physical work was due to the trust and credibility of investors and the support of local authorities who invited them to invest in Manta.

In less than six months, 95% of the first tower has been sold. The second tower began to be marketed in March and already has 75% of the spaces sold.

"Only at the sales level, the first tower (has an investment) of around 24 million dollars, that is made up of pre-sales, bank loans and also investment from the developer, it is a formula to be able to move the project forward," he indicated. Bell.

Construction times are fundamental within this projection that will allow, for example, all apartment owners to have a view of the sea. Hence, this first tower is expected to be ready in 22 months, that is, within the first half of 2024.

The second tower will begin construction at the end of this year, according to plan, and at the same time sales of the apartments in the third tower will begin, Campana explained.

These modern towers will be built in a space of 12,000 square meters, each tower of 14 to 16 floors will have about 70 apartments in a sector that is close to, in addition to the sea, hospitals, shopping centers, universities and the area with the greatest urban growth in Blanket.

Cristian Wiese will be the architect responsible for building this infrastructure, considered at the moment to have the highest level of investment, more than 80 million dollars, which will be structured in a city like Manta, which on November 4 will celebrate its 100 years of cantonization.

Among the novelties that this project presents for future apartment owners are a solarium, five outdoor swimming pools and the main one with an infinity edge, an outdoor LED screen cinema, elliptical pergolas, a rooftop with 180 degrees of view to a children's wet area.

Manta, according to Campana, was chosen to build this project because of the infrastructure it has, the gastronomy and what it considers to be the second best climate in the world, as well as its growth potential. Added to this is the fact that it is the only city in Manabí to have an airport with daily flights to Quito, as well as international flights on some occasions.

"The important thing is that the project is developed with a real estate trust, providing security for the prospective buyers, providing security for the bank that is granting an important loan for this project, and this is how we will do with the second, third and fourth tower and until completion the project,” said the real estate executive.

The company indicates that this project catapults tourism in the city and plans to generate more than 600 direct employment positions and 1,800 indirect positions.

Millenium is a company Campana Organization, afamily officemulti-sector with investments in different sectors of the economy, including real estate. It has two developers, Millenium, for high-rise buildings, and Ecuavivienda, for houses and urbanizations.