Journal of Business and entrepreneurial
January . March Vol. 8 - 1 - 2024
http://journalbusinesses.com/index.php/revista
e-ISSN: 2576-0971
journalbusinessentrepreneurial@gmail.com
Receipt: 16 September 2023
Approval: 14 December 2023
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,