WhereDaily News: Metrospaces Receives Final Construction Permits on Hotel Santo Cristo and Tulasi Mandir Hotel and Spa
MIAMI, FL--(Marketwired - Dec 15, 2015) - Metrospaces, Inc. (OTC PINK: MSPC) announces final and full planning approval for both its Venezuelan hotel projects. Mr. Oscar Brito, Company CFO, stated: "Metrospaces had received preliminary planning permits that allowed the beginning of the construction of these 2 projects, subject to certain changes and comments. Those changes and comments have been approached and we now have full and final planning approval. This will allow us finalize our loan approval requests and to begin construction as soon as funding is agreed by the banks we are currently negotiating with. Additionally, with the opposition party winning congress in Venezuela with an overwhelming majority over current administration, we expect to see a more business-friendly environment for investors and the economy. We believe this could be a turning point in the Venezuelan economy, and we expect this new economic change to be very positive mid and long-term to our hotel projects. In the last 3 weeks, both Argentina and Venezuela have had mayor political shifts in government, expected to bring more economic growth and opportunities for investors. The hotel industry is heavily underinvested in these 2 economies, and we see ourselves well-positioned to take advantage of certain market conditions."
