He Constitutional Court (TC) declared the unconstitutionality of Ordinance 610/MM of the Municipality of Miraflores, which suspended the construction licenses already granted for real estate projects.
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In this regard, the president of the Association of Real Estate Companies of Peru (ASEI), José Espantoso, explained to Peru21 that the ruling of the TC establishes that if the Municipality has any observations on the Technical Reports – Favorable (ITF), prepared by urban reviewers, it has to turn to the Ministry of Housing, Construction and Sanitation (MVCS) for review.
“The Court has been emphatic in reiterating the protection of the rights of the affected third parties who are those who legitimately purchased the property, that is, while the Ministry decides what is happening, the work cannot be paralyzed,” he explained.
Likewise, he indicated that there are two reasons why a license can be suspended. real estate project: it is constructed differently than what the license establishes; or for a worker safety issue.
The ASEI representative indicated that although today there is no exact number of projects that were affected by the ordinance of the Municipality of Miraflores, it is estimated that at the time there were 40 works.
“You have to see that not only are they paralyzed when construction is underway, but there are preliminary projects that were also affected. In addition, you have to consider that some projects were also winning legal battles and being reestablished,” he added.
For José Espantoso, this decision also remains a precedent for any other commune that wants to put in uncertainty the real estate investment that the country needs so much.
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IMPACT OF REAL ESTATE PROJECTS
The president of ASEI highlighted the importance of real estate investments for the development of Peru. In that sense, he stated that although private investment in the country fell in 2023, real estate grew by 16%.
“This disbursement is the second most important after mining, and generates around 257,000 jobs. That is why we are very alert to the decisions made around the sector,” he highlighted.
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