That’s how it went Advantage of Lima 2023?
We took office in January 2023 and the situation we found ourselves in was complex from a financial perspective and in managing the Foundation’s resources. We found that the company’s real estate assets, worth S/ 8,000 million, were in a poor state of maintenance; A large number of properties are in a precarious situation (they are using the property but without a contract and without paying rent) and are unlivable. The expected return is 5%, which is S/ 400 million and the budget of the entire company does not reach S/ 60 million, which means that the assets on the books do not reflect the activity.
What is your plan to change that?
We found many contradictions. For example, a property round table It was rented for US$250, we restored it and now rent it for US$8,000 per month. We have recovered 26 properties worth S/ 30 million in a short period of time. We work towards recovery of adequate income with real estate assets and valuation values of trade value.
How much has income improved?
We have a Surplus Over S/ 8 million in one year, which has not been the case for decades. Also, with the beneficiaries we get a positive image that builds trust.
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What projects do you plan to develop?
We have properties that we can do with a surface contract, which means some sort of Discounts. We have a place in San Ysidro that could easily make a building for rent, and today it’s one story. is Amma Home ClinicThere we found a loss of S/ 80 million, which we have temporarily outsourced to a third-party company and are also working on a real estate project for a clinic.
Should a clinic administer it?
A company is currently functioning Amma Home Clinic We are looking at which company offers us the greatest economic benefit and the best plan so that a clinic can be built at the same location under a surface contract but maintain the same name. Until last year, we dedicated S/ 3 million annually to cover their ongoing expenses, today it has stopped with the rental distribution of the clinic that is already in operation, and it no longer costs us.
How else are you going to generate income?
We inherit a property from many benefactors, but it is incomplete, only a part. For example, they give us 20% co-ownership in an apartment, where the family who inherited it lives normally and only a part is ours, but we do not receive any income, rather it represents expenses. What we propose Ministry of Women These collateral assets can be sold because we are required by law to obtain their approval.
Who will sell it to?
Buy properties that rent well with co-owners and those resources because at this point it’s no use to us and just an expense.
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And can they sell the property?
We have an offer Municipal project for the restoration of the historic center of Lima (prolima). As we have a large number of tourist destinations, they propose to us to buy properties that they prefer. So we’ll buy new properties in better areas where they actually generate income to sustain what we’re doing and expand community projects. All proceeds from the sale will go to the trust to purchase the property, and that’s the deal.
How many collaterals and properties can they sell?
About 17 of the co-owners and lands Historic Center of Lima About 11. That is what we will sell until the Ministry of Women Affairs gives us approval. We calculated that initially we could be comfortable with S/ 50 to S/ 60 million and from there we could go to about S/ 200 million and create healthy investments that generate income to expand social projects.
And where is the interest to buy?
Or build a new, well-managed cemetery in more profitable areas. There is not a cemetery in the cones that could have been in Angel 2, because today there are many places where people are buried, such as hills or informal cemeteries. There are many businesses but we want to strengthen real estate and this is our cause.
And do you have any home projects planned?
The Advantage owns numerous properties in Upper neighborhoods And all of them are dangerous or unlivable, so social projects can be developed there, and we are in talks with the Ministry of Housing. EmiliaThe borough’s real estate agency needs to see what we can do, but first we need to recover the properties and protect the people who live there.
Will they be rental housing projects?
It will always be low income. We cannot capitalize the company, we need income and trust the flows. It allows us to use
And gastronomic patios or hotels?
There is some probability that our properties will have boutique hotels, but that would require restoring them. The center of Lima is increasing in value, and you can try to emulate Cartagena, which has a lot of boutique hotels in the center of Lima. Airbnb. We are working on it.
Tombs as a tourist circuit
What are you planning on Angel Cemetery?
We have already recovered it and increased our income to more than S/ 1 million per month. 700,000 Peruvians are buried at Angel. We’re turning it back into a cemetery and making it family-friendly.
Extensions?
We have created 7,000 columbariums for the first time in El Angel. During the epidemic, a lot of people were cremated in the crematorium, but no ashes rested in the cemetery because there were no columbariums, and now they are really competitively priced. We love a tour within Angel because we have former presidents, Creole singers, people of great fame or notoriety in the worlds of art and television. Chabuca Granda, Fight the kings Y The Jackal.
(Photo: Benificencia de Lima)
And with the Master Priest?
It is our desire to enter the tourist circuit of Lima. He Master Priest It is a museum and we need a lot of support.
Are investors’ returns estimated?
An investor entering Angel Graves may be a concession of sorts, and we’re looking at some alternatives. It is true that we are not experts in cemeteries, we have to outsource them and earn income from what we actually know how to do.
Looking for a deal
They had a falling out with Minza over Largo Herrera, how is that going?
We are in harmony with them. We have held several meetings with Minsa and are working towards a solution for citizens. On behalf of Advantage of Lima There is an initiative in finding a solution and that is what we do.
What do they propose?
Let’s drop the tests first. The loan they owe us is spent on investment that benefits the people and we are the owners and generate some kind of income with the management of some places, but the focus is on the citizens.
Will there be a solution this year?
We believe.
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