SEMARNAT HALTS 22 REAL ESTATE DEVELOPMENTS IN PUERTO VALLARTA, STALLING US$352 MILLION IN INVESTMENTS
PUERTO VALLARTA, JALISCO.- (OCTOBER 23, 2023) In Puerto Vallarta, Mexico, the Ministry of Environment and Natural Resources (Semarnat) has brought the construction of 22 real estate projects to a standstill, a decision that has reportedly obstructed investments amounting to $352 million, or 6,575 million pesos.
Local developers have expressed grave concerns about the federal government’s stringent measures that commenced in 2021 but have escalated markedly since April 2022.
The crackdown, enforced by the Federal Environmental Protection Agency (Profepa), came under increased scrutiny with the appointment of Raúl Rodríguez as the head of the Semarnat delegation . . .
Source: Vallarta Daily