The Monagas Real Estate Chamber has reported that warehouse and office rentals have increased by 35% in recent weeks. This would be the result of... recent oil deal and the desire of multinational companies to establish a presence in the eastern part of the country. The trade association also hopes that these positive figures will translate into increased property sales in the coming months.
According to a press release from Fedecámaras, which interviewed Mary Piña, president of the business association, on its radio program, this forecast is based on the possibility of oil workers arriving in Monagas. In this regard, the business leader noted that Maturín, the state capital, has the most affordable property prices of all Venezuelan cities.
Real estate sales up 15% by year's end
Piña described these figures as positive and estimated that by the last quarter of 2026, the development of oil investments will boost real estate sales by up to 15%.
The president of the Monagas Real Estate Chamber pointed out that oil activity and the real estate boom have contributed to other companies choosing to invest in Maturín.
“Last weekend we saw the opening of clothing and motorcycle stores. Technology stores also came. This means that more companies are investing in the state,” Piña stated.
This past September 2nd, the President of Venezuela, Delcy Rodríguez, led the signing of new energy cooperation agreements with international companies, aimed at strengthening and adapting the Venezuelan hydrocarbon sector.
During the day, various instruments were formalized between Venezuelan state institutions and international companies, including Chevron and Eni, as part of the cooperation mechanisms and adaptation of joint ventures to Venezuelan legislation on hydrocarbons.
