The president of the Venezuelan Chamber of Real Estate (CIV), Pablo González Travieso expressed the private sector's commitment to the country's reconstruction efforts following the double earthquake of June 24th., an event that generated an immediate impact on the market with a drop in supply and an increase in demand for housing.
During his speech at the National Economic CouncilGonzález Travieso sent a message of solidarity to the affected families and highlighted the deployment of real estate brokers in more than 20 regional chambers to collaborate with national authorities and international organizations in addressing the emergency.
The union leader acknowledged the work of the Minister of Housing and Habitat, architect Paola Pussani, with whom they have held working sessions within the framework of the Construction Sector initiative since 2022. In this context, The CIV reaffirmed the urgency of reactivating the sector to recover the historical contribution of 8% that construction generates in the national Gross Domestic Product (GDP).
To accelerate the physical and economic recovery of the affected areas, González Travieso emphasized the need to build confidence among domestic investors within a framework of full respect for private property. In this regard, he noted that the industry association had submitted a reform proposal to the National Executive Branch for the three laws governing the real estate business in the country.
The president of the Venezuelan Chamber of Construction (CIV) also announced that the sector is working on designing financing proposals that differ from traditional banking options and are geared toward the capital markets. This mechanism aims to structure transparent, secure, and liquid financial instruments to attract capital for programs to rebuild homes and infrastructure damaged by the earthquakes.
