Chancay megaport: by how much has the value of the surrounding land multiplied?

The construction of Chancay Megaport marks an economic milestone in the northern region and attracts the attention of investors in various sectors. From hotel chains to real estate companies, everyone is looking for new economic opportunities around this project.

But how does this megainfrastructure affect the value of the surrounding land? If you are interested in searching for new lots, we give you all the details in the following note.

When will the Chancay Megaport be ready?

Its inauguration is projected for the fourth quarter of 2024, during the Presidential Summit of the Asia-Pacific Economic Cooperation Forum (APEC). So far, the works on the Chancay Multipurpose Port Terminal are almost 50% complete and the urban development plan should be ready in the next six months.

Chancay megaport: by how much has the value of the land increased?

A palpable phenomenon is the notable increase in the price of land near the port. Juan Álvarez, mayor of Chancay, told Andina that, due to the construction of the megaport, the price per square meter has experienced a significant increase.

“It has appreciated a lot with the construction of the port because 15 years ago it was one dollar per square meter (m²) and now it can reach up to 1,000 dollars if the land is within the city,” he said.

The authority adds that there are one-hectare lots “that are selling for a million dollars,” it all depends on where the land is located. If you are closer to Chancay portthe price increases.

Hotels and shopping centers in Puerto de Chancay

The attractiveness of the Chancay Megaport also arouses the interest of investors in the hotel industry and shopping centers. However, for these cash injections to prosper, the finalization of the urban development plan, which will outline areas for commerce, recreation and transportation infrastructure, is crucial.