Journal of Business and entrepreneurial
January . March Vol. 8 - 1 - 2024
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e-ISSN: 2576-0971
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Receipt: 16 September 2023
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Page 81-99
Contribution of the real estate sector in the city of
esmeraldas: a sustainable and sustainable vision
Contribución del sector inmobiliario en la cuidad de
esmeraldas: una visión sostenible y sustentable
Egas-Posligua, Laura Marcela
*
Palacios-Cedeño, Nohemí Monserrate
*
ABSTRACT
The study analyzes the factors that contribute to the
sustainable and sustainable development of the real
estate sector in the city of Esmeraldas, in terms of
employment generation, investment promotion,
sustainable urban development and tax revenue
generation. Therefore, the research focused on to
analyze the contribution of the real estate sector in
the city of Esmeraldas towards a sustainable and
sustainable vision . The study was based on the type
of documentary research, which allowed to deepen
the most relevant findings on the contribution of the
real estate sector to boost the local economy.
Among its derivations, it is highlighted that the real
estate sector in Esmeraldas is channeled in the
construction of properties oriented towards the sale
and rental of real estate, experiencing significant
changes in the period 2015-2021, with a gradual
increase in the execution of construction projects
supported by public and private investment, allowing
the local economic reactivation and contributing to
sustainable development, valuing and promoting the
competences of the local economy.
* Student of the Master's Degree in Project Management,
Graduate School, Universidad Técnica de Manabí, Portoviejo -
Ecuador, legas2031@utm.edu.ec
https://orcid.org/0009-0002-4641-1369
* Master's Degree in Financial Management and Advisory,
Universidad Técnica de Manabí
Portoviejo - Ecuador, nohemi.palacios@utm.edu.ec,
https://orcid.org/0000-0002-0666-5164
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Keywords: strategies, sales, preferences,
preferences, media, optimization
RESUMEN
El estudio analiza los factores que contribuyen al
desarrollo sostenible y sustentable del sector
inmobiliario en la cuidad de Esmeraldas, en términos
de generación de empleo, promoción de la inversión,
desarrollo urbano sostenible y generación de
ingresos fiscales. Por lo que, la investigación se
centró en analizar la contribución del sector
inmobiliario en la ciudad de Esmeraldas hacia una
visión sostenible y sustentable. El estudio se amparó
en el tipo de investigación documental, lo que
permitió profundizar los hallazgos más relevantes
sobre la contribución del sector inmobiliario para el
impulso de la economía local. Entre sus derivaciones
se destaca, que el sector inmobiliario en Esmeraldas
se encauza en la construcción de propiedades
orientadas hacia la venta y alquiler de inmuebles,
experimentando cambios significativos en el periodo
2015-2021, con un incremento gradual en la
ejecución de proyectos de construcción apoyado en
la inversión pública y privada, permitiendo la
reactivación económica local y contribuyendo al
desarrollo sostenible, valorando y fomentando las
competencias
Palabras clave: estrategias, ventas, preferencias,
medios de comunicación, optimización
INTRODUCTION
The real estate sector plays a fundamental role in the economic and social development
of Ecuador, experiencing significant growth and becoming one of the key drivers of the
country's economy. It is through the contribution of the real estate sector in Ecuador
that various aspects associated with provincial and national economic growth can be
evidenced. In addition, the advances related to the sustainable and sustainable
development of cities are linked to urban programs and projects, which provide
solutions, if effectively managed and planned, resulting in an optimal instrument for the
advancement of sustainable and sustainable development in developed countries and in
developing countries (ECLAC, 2016).
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First, the real estate sector generates employment and promotes investment through
the manufacture of housing, commercial buildings, and infrastructure projects that
require a large labor force, which drives the generation of employment in the country.
In addition, investment in real estate encourages the flow of capital, both domestic and
foreign, which contributes to economic growth and the development of the construction
industry.
Secondly, the real estate sector promotes sustainable urban development, where as the
population grows, the demand for housing and commercial space increases
proportionally. Therefore, the sector plays a key role in the planning and construction
of sustainable cities, providing affordable housing, adequate infrastructure and green
spaces, which contributes to improving the quality of life of citizens and creating more
livable urban environments.
In this sense, through the construction, sale and rental of properties, the real estate
sector has contributed significantly to the growth and progress of cities; to better
understand the importance and contribution of the real estate sector in Esmeraldas, it
is necessary to analyze some relevant statistical data. According to the National Institute
of Statistics and Census (INEC, 2021) in the last six years there is evidence of a steady
increase in housing construction in the city. Specifically, in 2015 a total of 500 homes
were built, while, in 2019, the figure rose to 800 homes, this represents a 60% increase
in housing construction in just five years. However, by 2020, influenced by the COVID-
19 disease, sales decreased by 22.4% compared to the previous year's sales, although, as
economic activities were reactivated, by the second half of 2021, sales increased by 35%
as well as the execution of housing projects, which benefited the community of
Esmeraldas with 659 homes.
Table . Distribution of housing projects executed in the province of Esmeraldas, year 2021.
Type of project
Number of
dwellings
Private of social interest (VIS).
33
Public of public interest (VIP).
147
Public with community accompaniment.
489
Note: MIDUVI (2022)
However, in Ecuador the real estate sector is incipient to sustainable and sustainable
development, characterized by the commercialization of housing projects financed by
lending institutions, so it would represent an opportunity for investors who wish to
transform the traditional construction system towards sustainable and sustainable
growth. Highlighting, the constitutional recognition towards sustainability and
sustainability to achieve the right to development aligned with the 2030 Agenda and its
Sustainable Development Goals in Decree 371. (Constitution of the Republic of
Ecuador, 2018).
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In this order of ideas, the study presents a reflective analysis of the real estate sector
and its performance as a fundamental role in contributing to the growth and
development of the city of Esmeraldas, where through the construction of housing,
commercial and tourism projects, as well as the sale and rental of properties, this sector
has generated employment, investment and has boosted the sustainable local economy.
Statistical data from INEC show the positive impact and economic importance of the
real estate sector in the city of Esmeraldas, being relevant the promotion and promotion
of sustainable and sustainable real estate development to ensure a planned and
productive growth, including throughout the province of Esmeraldas.
Thus, authors such as Gehl (2006), known for his theory of sustainability in urban design,
whose approach focuses on creating more livable and sustainable cities for people,
promoting pedestrian life, social integration and quality of life in the urban environment
in conjunction with (Meadows et al.,1972; Figueroa et al., 2020 and Gurdon, 2023) who
emphasize the need for a balance between economic growth and preservation of natural
resources. They state that economic growth without limits is not sustainable in the long
term and that it is necessary to find a balance between economic development and
environmental protection. In addition, the contribution of these theories points to the
understanding of complex environmental and social problems and the search for
sustainable and sustainable solutions.
Evolution of the economy of the canton of Esmeraldas
To establish the evolution of the economy of the canton of Esmeraldas, we used the
administrative records of the Internal Revenue Service (SRI) regarding sales reported by
individuals and legal entities in this jurisdiction.
According to the SRI in 2021, the Esmeraldas canton reported sales of about
US$2,860.91 million. The average annual growth of the Esmeraldas canton during the
period 2015-2021 amounted to 5.62% compared to the 2.97% recorded in Ecuador,
which is considered as positive and demonstrates the potential presented by this locality.
However, it is necessary to point out that the year of lowest performance for the
Esmeraldas canton was 2017 with a contraction in sales of -13.97%, in that same year
Ecuador grew 7.94%, which indicates that there are internal and external factors that
strongly affect the Esmeraldas economy.(See Table 1).
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Table 1. Evolution of sales of the canton Esmeraldas and Ecuador, in millions of dollars, period
2015-2021.
Year
Esmeraldas
Canton
Growth rate
Esmeraldas
Ecuador
Growth rate
Ecuador
2015
3.490,23
11,91%
177.223,98
-6,57%
2016
3.390,93
-2,85%
165.142,19
-6,82%
2017
2.917,15
-13,97%
178.261,96
7,94%
2018
3.045,28
4,39%
188.837,58
5,93%
2019
2.913,11
-4,34%
192.127,79
1,74%
2020
2.749,92
-5,60%
163.210,68
-15,05%
2021
2.860,91
4,04%
199.316,54
22,12%
Note: This table shows the contrast made by the SRI [Servicio de Rentas Internas],
(2022); between the growth rate of the canton of Esmeraldas and Ecuador.
In the context of the COVID-19 pandemic, the canton of Esmeraldas had a reduction in
sales of -5.60% in 2020 compared to the -15.05% recorded by Ecuador, which indicates
that there were productive sectors in the territory that cushioned the impact of the
economic paralysis.
According to the sales report made by natural and legal persons settled in the
Esmeraldas canton, it is observed that when comparing 2020 with 2019, almost all
economic activities were affected in sales, however, the activity of mining and quarrying
grew by 6.62%, the distribution of drinking water by 9.82% and transportation with
9.87% (SRI, 2022).
The real estate sector in the canton of Esmeraldas represented 0.82% of the local
economy, with a contraction in its growth of -25.31% in 2020 compared to the previous
year, together with activities related to the construction sector, closely linked, with a
representative participation of 1.79% in the cantonal economy and a contraction in its
growth of -48.70%, aspects that could demonstrate the need to reactivate the sector
through private investments, and at the same time expresses signs that the sector is
depressed and could generate high risks for potential real estate developers. This
situation generated in the real estate market a catalyzing mechanism in the perception
of housing with functional, flexible and sustainable indicators, consistent with the way of
experiencing sustainable and sustainable needs and expectations adopted after the
COVID-19 pandemic.
Increase in the real estate sector in the province of Esmeraldas
In order to establish the evolution of housing projects to be built in the canton of
Esmeraldas, we used the Building Statistics (ESED), which is an annual statistical
operation that characterizes the buildings to be executed through construction permits
issued by the Municipal Decentralized Autonomous Governments. Its objective is to
provide updated information on the growth rate of potential real estate projects to be
built, whether housing, commercial and industrial premises, administrative buildings,
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clinics, among others. In Table 3 and Figure 1, it is observed that housing construction
during the period 2015-2021 shows a downward trend in the province of Esmeraldas
and at the national level, with this it is concluded that the conditions to promote
construction projects in real estate have not been favorable for its developers, this can
be linked to the scarce financing proposal by the national financial system.
Table 2. Evolution of the number of houses built in the province of Esmeraldas, period 2015-
2021.
Emeralds
Ecuador
520
69.907
443
58.675
736
59.456
548
65.347
389
47.291
130
33.772
279
42.787
Note: INEC [Instituto Nacional de Estadística y Censos], Encuesta Nacional de
Edificaciones, 2021.
The growth rate of new housing construction in the canton of Esmeraldas during the
period 2015-2021 was -8.72% compared to the contraction of -8.87% that was recorded
in Ecuador, which evidences a situation of crisis in the construction and real estate sector
linked to the supply of housing, therefore it is a priority to promote projects that meet
the demand of local and national consumers.
Figure 1. Evolution of the number of houses built in Esmeraldas province, period 2015-
2021.
Note. INEC (2021).
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One of the main characteristics of real estate projects in the city of Esmeraldas is their
focus on the use of sustainable materials and technologies. Real estate developers have
opted to use environmentally friendly construction materials and renewable energy, thus
reducing the environmental impact of the buildings. In addition, energy efficiency has
been promoted in the buildings through the use of efficient lighting and air conditioning
systems, which contributes to a lower demand for natural resources.
Another important contribution of the real estate sector to the city is the generation of
jobs, where the construction of residential and commercial projects requires local labor,
which helps to boost the economy of Esmeraldas; in addition, the real estate sector
drives the creation of indirect jobs in related sectors, such as the sale of construction
materials, hiring of local machinery and maintenance personnel. Furthermore, developing
real estate projects includes an immersed process that involves various sectors related
to the local economy, generating productive support for shopping centers, restaurants,
educational institutions and local micro-enterprises, increasing the influx of users, giving
the local economy a commercial boost derived indirectly from the real estate sector,
contributing to the sustainability and sustainability of the locality.
Based on Gehl (2006), who focuses on the theory of "Human Urban Design", he argues
that urban spaces should be designed with people's needs and well-being in mind. His
approach focuses on creating more livable cities, promoting sustainable mobility, the
integration of green spaces and the creation of accessible and safe public areas.
One of the main contributions of Gehl (2006), is his focus on the design of people-
centered cities, he argues that cities should be designed with people's needs in mind and
how to improve their quality of life, thus his theory highlights the importance of creating
accessible and safe public spaces, encouraging sustainable mobility, and promoting the
integration of green areas in the urban environment.
He has also developed the idea of "walking cities". He argues that cities should be
designed to encourage walking as a means of transportation, as this is not only beneficial
for people's health, but also contributes to reducing pollution and improving air quality.
In this way the contributions of Jan Gehl's theory focus on the creation of more livable,
sustainable and people-centered cities.
Likewise, the United Nations has recognized the importance of the real estate sector in
the creation of a more sustainable future, where the UN has specifically highlighted the
key role that the real estate sector can play in the fight against climate change and in the
achievement of the Sustainable Development Goals (SDGs).
The (UN, 2019) in its meeting with the Economic Commission for Latin America and
the Caribbean (ECLAC) emphasized the need to promote the adoption of sustainable
practices and policies in the real estate sector, such as the construction of energy
efficient buildings, the use of sustainable materials, the promotion of sustainable mobility
and the creation of accessible and safe public spaces. It has also emphasized the
importance of collaboration between the different actors in the real estate sector,
including governments, companies and civil society, to achieve a transition to a more
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sustainable and livable future, recognizing the importance of the real estate sector in the
creation of a more sustainable future and promoting the adoption of sustainable
practices and policies in this sector. Therefore, the objective of the research focuses on
analyzing the contribution of the real estate sector in the city of Esmeraldas towards a
sustainable and livable vision.
MATERIALS AND METHODS
The methodology followed for this article was based on a documentary research and
thus compile the exploration from its real context, specifying the events in the real
scenario of the problem situation, the contained population, its characteristics, attitudes
and the variables to be studied. Likewise, bibliographic material from previous research
was compiled with the support of academic search engines such as Scopus, Redalyc and
academic google, classifying and selecting research and bibliographies referring to the
research variable, which theoretically argue the contribution of the real estate sector in
the city of Esmeraldas towards a sustainable and sustainable vision (Hernández and
Mendoza 2018).
Through documentary research, a specific answer was obtained from the exhaustive
investigation of the sources consulted, where its tasks make sense when the study
problem has been delimited, in addition, it allows detecting and obtaining, in a selective
manner, useful information for the purposes of the study. (Arias, 2012).
Thus, information was collected to analyze aspects such as the evolution of the economy,
main economic sectors, increase in the real estate sector in the province of Esmeraldas
and demographic features of the canton, all this in order to establish the existence of
potential home buyers and thus estimate the population with the possibility of
acquisition as a basis for analyzing the growth of the real estate sector in the city of
Esmeraldas: a sustainable and sustainable vision.
RESULTS
Analyzing the contribution of the real estate sector in the city of Esmeraldas towards a
sustainable and sustainable vision has revealed several important aspects. First, it has
been found that the real estate sector plays a fundamental role in the economic
development of the city, being one of the main sources of employment and income
generation.
However, it has also been observed that there are significant challenges in terms of
sustainability and sustainability. There has been evidence of an increase in housing
construction without adequate planning, which has led to the occupation of high-risk
areas and environmental degradation.
To address these problems, a series of measures have been proposed. These include
the implementation of more rigorous urban planning policies that allow for an orderly
and sustainable development of the real estate sector. The promotion of more
environmentally friendly construction technologies and materials has also been
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suggested, as well as the promotion of energy efficiency in buildings. However, the
acquisition of housing has also been influenced by the income levels of the province's
inhabitants.
Home ownership in Esmeraldas can vary depending on the income level of the province's
inhabitants. In general, it is more difficult for people with lower incomes to purchase
homes due to financial constraints. For those with higher incomes, homeownership may
be more affordable because they are better able to save and meet financial requirements,
such as down payment and monthly mortgage payments. However, for those with lower
incomes, the situation may be more complicated. Lack of access to mortgage credit, job
instability and high housing costs can make homeownership difficult.
In response to this situation, the Ecuadorian government has implemented social housing
programs to provide affordable housing options for low-income people. These programs
include housing subsidies, credit facilities, and the construction of low-income housing.
Table 3. Number of people by income level in the canton of Esmeraldas, year 2021.
Note. INEC (2021).
With this information, it is observed that the highest percentage of households (66.78%)
is in the "Less than 425" income range. This indicates that the majority of households
have a low income level. On the other hand, only a small percentage of households
(1.20%) have an income level higher than 2600. These data allow us to infer that access
to homeownership is influenced by income level, as most households are concentrated
in the lower income levels.
Level of
Revenues
No. Of
Persons
Less than 425
41.167
425-600
7.113
601-800
4.443
801-1000
3.568
1001-1200
1.838
1201-1400
1.061
1401-1600
495
1601-1800
548
1801-2000
206
2001-2200
157
2201-2400
175
2401-2600
165
Greater than 2600
742
Total
61.678
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Table 4. Distribution of workers by income level and occupational category, in percentages,
year 2021.
Income level
Governmen
t employee
Private
employee
Patron
Own
Account
Another
Total
Less than 425
0,34%
21,96%
2,09%
59,54%
16,07%
100,00%
425-600
22,68%
51,09%
4,10%
17,49%
4,64%
100,00%
601-800
58,77%
24,56%
3,95%
11,84%
0,88%
100,00%
801-1000
72,38%
17,68%
1,66%
8,29%
0,00%
100,00%
1001-1200
80,37%
5,61%
5,61%
8,41%
0,00%
100,00%
1201-1400
77,19%
17,54%
1,75%
3,51%
0,00%
100,00%
1401-1600
57,58%
15,15%
9,09%
18,18%
0,00%
100,00%
1601-1800
84,85%
9,09%
3,03%
3,03%
0,00%
100,00%
1801-2000
100,00%
0,00%
0,00%
0,00%
0,00%
100,00%
2001-2200
70,00%
0,00%
20,00%
10,00%
0,00%
100,00%
2201-2400
88,89%
11,11%
0,00%
0,00%
0,00%
100,00%
2401-2600
75,00%
25,00%
0,00%
0,00%
0,00%
100,00%
Greater than
2600
48,89%
15,56%
13,33%
22,22%
0,00%
100,00%
Total
20,41%
24,41%
2,91%
41,63%
10,63%
100,00%
Note. INEC (2021). National Survey of Employment, Unemployment and
Underemployment.
The results reflect that the income level of workers in Esmeraldas for the year 2021
with purchasing power for housing are those who work in government areas, followed
by those who receive income through self-employment, then 15.56% of private
employees and 2.91% as employers, indicating that, of 100% of the inhabitants of the
province of Esmeraldas, 5.5% have a considerable income level to purchase a home
offered by private real estate companies. However, the remaining percentage can opt
for housing projects promoted by the government of Ecuador through public policies to
guarantee citizens access to a safe, healthy and dignified habitat.
Therefore, through the Ministry of Urban Development and Housing (MIDUVI),
environmentally friendly projects have been implemented, creating new possibilities,
consumption patterns, productivity, social and economic development, related to the
productive matrix, solidary redistribution of productive opportunities, emphasizing
mainly on natural systems, the interdependence of natural resources with urban
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development, mobility and sustainable infrastructure, urban resilience, adaptation to
climate change and food sovereignty. (MIDUVI, 2022).
Thus, according to the income level of the people who work in the province of
Esmeraldas, they can opt for the housing offers promoted by the government, to
facilitate access to adequate and decent housing for priority groups, poverty and
vulnerability, as well as for low and middle-income families in need of their own home.
Integrating strategic allied builders that have generated 489 houses derived from the
execution of the investment project "Casa Para Todos", financed by different multilateral
organizations. (MIDUVI, 2022).
Table 5. City of domicile of potential buyers, in number and percentages, August 2022.
City
No. of surveys
%
Emeralds
319
97,55%
Atacames
3
0,92%
Quevedo
1
0,31%
Santo
Domingo
2
0,61%
Other
unspecified
2
0,61%
Total
327
100,00%
Note. Market Study, (2022). Prepared by the consulting team.
Among the characteristics that were identified in the reference sample, the following
were described: regarding the sex of the 327 interviewees, 53.52% of the participants in
the study to establish the profile of homebuyers were women and 46.48% were men.
The age of the potential homebuyers was between 31-35 years old, representing 22.02%
of the total. 65.14% of the participants in the market study defined themselves as
mestizo, 39.45% of them were married and according to the study participants, 34.25%
of them had a family nucleus of 4 people.
Similarly, 59.63% of those involved had a third level education. Of those interviewed,
66.97% worked in public institutions, with 63.30% having a permanent appointment and
58.41% of those interviewed indicated that 2 people work or contribute to the
household. 88.07% stated that their income was above $800. Finally, regarding the
possession of a vehicle by potential homebuyers, 61% of the study participants stated
that they owned their own vehicle.
Another important feature to mention is the propensity to buy on the part of potential
homebuyers, 61.16% of the participants in the market study are willing to buy a new
home despite the negative economic situation in Ecuador.
On the other hand, Torres (2016) applied a survey to 382 people with an age range of
21-50 years for being characterized in a period between the initiative of a professional
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life and people who require housing to lay family foundations. It showed that of the 100%
surveyed, only 27% have their own home, with the remaining 73% reflecting the number
of people with the possibility of acquiring a home in order to establish a sustainable and
sustainable real estate project. Another relevant aspect of the study was that of the
100% of collaborating agents, 87%, a figure that exceeds the 73% who do not own their
own home, expressed the intention of acquiring it, reflecting a real estate demand in the
city of Esmeraldas that contributes to local sustainability and sustainability. It was
observed that the perspective of the population of Esmeraldas is to acquire a property,
prevailing an unsatisfied market with concerns about costs, location and type of housing,
highlighting that both studies, delimited the population with a sustainable economic and
labor status. However, the current economy allows projecting an increase in real estate
development, demonstrated in the construction of new housing programs in Esmeraldas,
projecting future investments.
Table 6. Real estate with construction projects 2015-2021.
Real estate
Area
Current supply of houses
Malibu
135 m
2
85
Viteri Construction
64 m
2
325
Balcones de Tachina
135 m
2
480
Tecnipetrol
95 m
2
125
Coral Hertk
95 m
2
120
Torres and Torres
132 m
2
12
TOTAL
1.147
Note: Torres (2016)
Real estate projects are symbols of social modernity and are currently closely linked to
sustainability and sustainability comprising economic development and satisfying the
needs of the population without affecting the impact of the local ecosystem, preserving
an individual and collective future. Constituting a strategic area from the point of view
of economic activation and people's welfare, with best practices in construction, which
support equity, innovation and sustainability. Thus, they contribute to the development
of competitive, integrated and efficient cities in the use of resources. ( Technological
Development Corporation and Chilean Chamber of Construction, 2015)..
Sustainability and sustainability have been framed in the constitutional principles
worldwide, even international organizations such as UNESCO, established Sustainable
Development Goals (SDGs) towards the 2030 agenda. As well as the New Urban
Agenda Habitat III signed in 2016 and committed to transformation through an urban
paradigm shift based on integrated and indivisible dimensions of social, economic and
environmental sustainable development to ensure that cities and towns are inclusive,
safe, resilient and sustainable. Highlighting the connections between real estate projects
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and job creation, by creating job opportunities and increasing the quality of life that
should be integrated into all urban regeneration policies and strategies. Sustainable urban
and regional development is an essential element in achieving sustainable development
and human well-being.
The Urban Agenda urges local, national and international organizations, as well as all
those involved in economic development such as partners, national, international and
multilateral financial institutions, regional development banks, the private sector and
other stakeholders, to optimize urban and rural development projects and strategies to
apply an integrated approach to sustainable and sustainable urbanization by meeting the
housing needs of the population. The sustainable and sustainable real estate approach
represents an ideal towards a better future, in which all people enjoy equal rights and
access to the benefits and opportunities that cities can offer. With the intervention of
all levels of local and national government, civil society organizations, the private sector,
real estate groups and society in general, this ideal can be achieved.
The implementation of the New Urban Agenda is synthesized in a set of strategies to
lead to good urbanization through the generation of employment, prosperity and
development. This is pronounced in five key areas to support stakeholders: sustainable
urban development for social inclusion and the end of poverty; sustainable and inclusive
urban prosperity and opportunities for all; environmental sustainability and resilient
urban development; building the urban governance architecture: establishing a
supportive framework and; urban territorial development planning and management
(UN-HABITAT, 2016).
Ecuador, through the Ministry of Economic Policy Coordination and the Monetary and
Financial Regulation Policy Council, is responsible for finding financing mechanisms that
benefit real estate developers and builders. It allows establishing links with the capital
markets, creating multiplier effects in the economy, generating employment, productivity
and added value. They also stimulate the vitality of various production departments and
serve as support, forming part of the value chain of construction activities and therefore
also of the real estate sector.
Therefore, the real estate sector plays a crucial role in the development of the city of
Esmeraldas, since it not only contributes to the creation of housing and commercial
spaces, but also has a significant impact on the local economy. However, it is essential
that this contribution be made in a sustainable and sustainable manner, taking into
account social, economic and environmental aspects. First, from the economic point of
view, the real estate sector generates employment and attracts investment to the city.
The construction of housing and commercial buildings requires local labor, which boosts
employment and economic growth. In addition, the sale and rental of properties
generates income for property owners and real estate agents, as well as taxes for the
local government, which contributes to the city's development.
In 2015, the real estate sector in Esmeraldas was affected by the drop in oil prices, which
led to a decrease in investment and the development of real estate projects in the area.
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In addition, there were infrastructure problems and lack of basic services in some areas,
which limited the growth of the sector. However, as of 2016 there was a gradual
recovery in the real estate sector. The Ecuadorian government implemented policies to
encourage investment and improvements were made to infrastructure and basic services
in Esmeraldas. This generated an increase in the demand for real estate, especially in
tourist areas such as Atacames and Muisne, where construction projects for hotels,
condominiums and beach houses were developed.
In the following years, the real estate sector in Esmeraldas continued to grow. Significant
investments were made in housing projects, especially in the construction of residential
complexes and private housing developments in the parish of Tachina, and social interest
housing in the communities of Tabule and Quinindé. There was also an increase in
demand for commercial and office space, driven by economic growth and the
development of tourism and commercial activities in the area. However, during 2020,
the real estate sector throughout the country was affected by the COVID-19 pandemic
and Esmeraldas was no exception, with a decrease in sales and construction of new
projects due to restrictions imposed to curb the spread of the virus. However, as the
measures were eased and the economy recovered, the real estate sector in Esmeraldas
gradually recovered. Finally, in 2021, the real estate sector in Esmeraldas increased in
demand for housing, driven by greater economic stability and growing migration to the
area. Investment in tourism projects also increased, which generated greater demand
for real estate in coastal areas.
However, the real estate projects executed complied with the construction standards
established by the Council of the Municipal Decentralized Autonomous Government of
the Canton of Esmeraldas, which states that for sustainability and sustainability,
construction materials must be stable (stone, brick, iron, concrete), and the use of mud,
wood, cane, zinc or similar materials is penalized under the condition of demolition.
Structurally designed with the indicated measures of fronts and minimum surfaces,
coefficients of use and occupation of soil, free areas, withdrawals, heights and number
of floors. As well as sewage and wastewater treatment to mitigate contamination,
designed to efficiently maximize the use of natural resources, such as sunlight and natural
ventilation, reducing the need to use artificial lighting and air conditioning systems, which
in turn reduces energy consumption.
Likewise, construction materials and labor focused on territorial productivity, promoting
the endogenous economy and reducing the environmental footprint of construction,
making use of hardware stores, glass shops, sawed lumber and general material sales
located along the road leading to Atacames and along the paved road leading to
downtown. At the same time, they fulfilled the community's social responsibility,
generating jobs for the inhabitants by hiring local labor, which boosted the economy of
the surrounding homes and businesses. (GAD Esmeraldas, 2019)..
Also, for water management, rainwater collection and treatment systems were
implemented, as well as the use of low consumption technologies, such as efficient toilets
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and faucets, mitigating the consumption of drinking water and promoting a more
responsible management of the resource. With green spaces around the homes and
common areas for the enjoyment of residents, favoring community coexistence and
promoting a healthier environment. (MIDUVI, 2022).
Currently, some private sector housing projects are seeking to integrate renewable
energy systems, such as solar panels or wind turbines, to generate clean energy and
reduce dependence on conventional energy sources. The relationship between these
features and sustainable and sustainable housing is based on the idea of minimizing
environmental impact and promoting energy efficiency, using renewable resources and
encouraging responsible resource management. These measures contribute to the
reduction of pollution, the consumption of natural resources and the emission of
greenhouse gases, thus promoting a more sustainable and environmentally friendly
lifestyle.
In addition, it is important that real estate development continues to promote housing
projects keeping in mind the needs of the Esmeraldas community, providing housing
projects adapted to the local purchasing power with adequate public spaces and
improving the quality of life of the residents. In addition, it must also be aware of its
environmental impact and promote sustainable practices in the development of projects.
This implies implementing energy- and resource-efficient designs, using sustainable
materials, and minimizing the generation of waste and polluting emissions. It is important
that real estate developments are respectful of the natural environment of Esmeraldas,
preserving natural resources and protecting biodiversity.
CONCLUSIONS
The real estate sector has played a key role in contributing to the development of the
city of Esmeraldas under the sustainable and sustainable vision in the 2015-2021 period.
Promoting planned and regulated development, as well as social inclusion, through
environmentally responsible practices that have ensured a balanced and beneficial
growth in the Esmeraldas community. Significantly impacting the urban environment and
quality of life, with the creation of housing developments and buildings adapted to the
regulations that promote a more livable and environmentally friendly city, designed with
accessible and safe public spaces, promoting sustainable mobility and the integration of
green areas, urbanizing a more organized and friendly city for the population.
In addition, the real estate projects developed in Esmeraldas in the 2015-2021 period,
from a sustainable and sustainable perspective, have benefited communities through
cooperative social responsibility, creating jobs for qualified local inhabitants, generating
employment and boosting the economy of local households and businesses, reducing
economic scarcity and improving the quality of life of people in the community,
improving the real estate image and reputation, attracting investors, customers and
other stakeholders who value companies and governments committed to sustainability
and local development.
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Therefore, the real estate sector in Esmeraldas, despite the difficulties faced,
experienced significant changes from 2015 to 2021, registering a gradual growth by
promoting real estate projects that contributed to the improvement and quality of life
through policies focused on sustainability and urban sustainability, involving all sectors of
the State that contribute and contribute to the sustainable development of the province
and benefiting sustainable economic development. Providing the opportunity to develop
job skills and abilities, triggering greater professional and personal growth of local
workers, and therefore greater efficiency through knowledge and experience in the
market. Thus contributing to the sustainable development of the region, avoiding labor
migration and improving the connection with the community by developing stronger
relationships with residents.
Notably, the decline in housing and income reduction in Esmeraldas, along with the
growth of housing construction without adequate planning, pose significant challenges in
terms of sustainability and sustainability. To address these problems, it is necessary to
implement more rigorous urban planning policies, promote more environmentally
friendly construction technologies and materials, and promote energy efficiency in
buildings.
In addition, it is essential to consider the acquisition of housing based on the income
levels of the province's inhabitants, as the lack of access to mortgage credit, job
instability, and high housing costs can complicate the situation for those with lower
incomes. The promotion of sustainable and sustainable construction projects, as well as
the generation of employment and investment in the local economy, are key factors to
ensure planned and productive growth in Esmeraldas.
Ultimately, it is crucial to adopt a comprehensive approach that takes into account the
needs and well-being of people, promoting pedestrian life, social integration and quality
of life in the urban environment as a whole. This implies a balance between economic
growth and environmental protection, seeking sustainable and sustainable solutions that
guarantee a better future for the city of Esmeraldas.
The real estate sector in the city of Esmeraldas has made significant progress towards a
sustainable and sustainable vision under the regulations established by the Autonomous
Decentralized Municipal Government of Canton Esmeraldas. Its contribution has been
remarkable in terms of planned urban development, rational use of natural resources,
conservation of natural heritage, employment generation and economic dynamization.
These actions are fundamental to ensure the harmonious and responsible growth of the
city, improving the quality of life of its inhabitants and preserving the natural and cultural
environment.
Finally, it is important to refer to the challenges that currently emerge from this research
regarding the construction of sustainable and sustainable housing in Esmeraldas, which
include the lack of adequate planning in the growth of housing construction, which has
led to the occupation of high-risk areas and environmental degradation. In addition,
housing acquisition has been influenced by the income levels of the province's
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inhabitants, which can complicate the situation for those with lower incomes due to lack
of access to mortgage credit, job instability, and high housing costs.
To address these problems, a series of measures have been proposed, such as the
implementation of more rigorous urban planning policies, the promotion of more
environmentally friendly construction technologies and materials, and the promotion of
energy efficiency in buildings. In addition, it is essential to consider the acquisition of
housing according to the income levels of the province's inhabitants and to promote
sustainable and sustainable construction projects, as well as the generation of
employment and investment in the local economy, to ensure planned and productive
growth in the city of Esmeraldas.
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