Land prices in Chancay increase due to expectations for Megapuerto: how much do they cost?

There are a few months left until the inauguration of the Chancay megaport. With an investment of US$1.4 billion, this work has a general progress of more than 80% and is projected as a direct route for commercial exchange between Peru and Asia. Recently, it has just received the first batch of five cranes from China and ten days later, the second shipment will arrive.

Since construction began in 2016, the project of the Chinese company Cosco Shipping has been attracting the attention of national and foreign investors. By boosting the economy in the small north, the cost per square meter has been increasing, due to projections that show an increase in demand for housing.

Price per m2 skyrockets in Chancay: how much do they cost now?

Through an impressive logistics operation, the Chancay megaport received its first automatic gantry cranes on June 14, which represents an important milestone in the advancement of this ambitious project. These cranes, from China, were presented in a special ceremony that was attended by local authorities and representatives of Cosco Shipping Port.

The innovative multipurpose terminal will represent 25% of the value of Peruvian agro-exports through the sea and 22% of the total agro-exports. Likewise, it registers an advance of 85% in its first stage and has already generated more than 9,000 direct and indirect jobs. But, this is not the only thing that has increased in the area of ​​influence.

According to the district mayor of Chancay, Juan Álvarez Andrade, even before the announcement of the construction of the Chancay megaport, peri-urban land had a cost of US$2 per m2. However, this price in these areas is now estimated at US$35.

“It has appreciated quite a bit with the construction of the port, because 15 years ago it was US$1 per square meter (m2). That is to say, the value of a square meter in the peri-urban area has increased, and can now even reach up to US$1,000 if the land is within the city. “, the mayor told the Andina Agency, who suggests that the value of the square meter has increased by 1,650% due to its proximity to the mega-project.

These are the road projects that will benefit the Chancay megaport

The Chancay megaport seeks to unite and streamline the transportation network nationwide, which will boost commerce and mobility in these areas. According to the Minister of Transport and Communications, Raúl Pérez, his portfolio is promoting a series of works that “will complement each other, boost the operations of the port of Chancay and guarantee the safety of the people who live in this area.” . These are:

• The overpass on the Panamericana Norte.
• The Chancay-Carabayllo Avoidance Road.
• The Serpentín Pasamayo-Variante Pasamayo road pair.
• He Lima–Barranca railway

Finally, the Minister of Transportation points out that improvements are also contemplated in the Ambo–Oyón–Huaura, Huayllay–Acos-Huaral and Huayllay–Canta-Lima–Chancay road corridors. The start of these works, which will improve connectivity and will be added to the Port of Chancay projects, is expected to be in the fourth quarter of 2024.