The nineties
Fondo de Valores Inmobiliarios (FVI) was founded in 1992 in Caracas, Venezuela. The following year, it was registered in the Caracas Stock Exchange (BVC).
IRSA
Between 1996 and 1997, FVI is associated with IRSA – Argentine real estate group and the well-known investor George Soros, and our shares were registered in the ADR program Level I, of the NYSE. That same year, the company launches a successful US$100MM IPO and initiates an ambitious process of acquisition of AAA offices in Caracas, the capital of Venezuela, for rent to large corporations. Additionally during that period it is positioned as the third most liquid share in the BVC (Caracas Stock Exchange) and our first public issue of Commercial Papers with an A3 risk qualification, is placed in the market.
EIP
In year 2000, Equity International Properties, led by the North American investor Samuel Zell, founder of Equity Office Properties and Residential Equity Properties, two of the greater real estate companies of the world, becomes a strategic partner of FVI.
'High end' commercial centers
In 2003, based in the success achieved in the operation of the San Ignacio Center (more than 40,000 marketable m2), FVI penetrates the business of High End Commercial Centers, developing the Tolon Fashion Mall (22,300 m²) in Las Mercedes urbanization, and Paseo El Hatillo-La Lagunita (22.000 m²), both in Caracas, Venezuela.
Offices
For year 2009, through a strategic alliance with Sambil Constructions , the Galipán Project, a 48,000 m² offices complex, located in the Av. Francisco de Miranda in Caracas, Venezuela, is developed,. The complex was sold to the Bank of the Caribbean, Banesco Insurances and other investors. This same year, FVI develops the offices tower of Paseo El Hatillo-La Lagunita, a 6,000 m² building, also in the Venezuelan capital.
Blue Mall Santo Domingo
For year 2010, with the inauguration Blue Mall Santo Domingo, a multiple uses complex, that includes commerce, offices and a hotel operated by JW Marriot (yet to initiate operations), the process of internationalization of the company begins.
20 years of FVI
Looking to the future
In 2012, FVI initiates an ambitious plan of growth in the main cities of the interior of Venezuela, where it hopes to incorporate four new commercial centers in next the six years. Thus, it acquires Ciudad Comercial Llano Mall, in the city of Acarigua, Portuguesa State, Venezuela. This way, adding 34,000 m² of marketable space to its portfolio. Beyond the Venezuelan borders, FVI plans to acquire and develop two new commercial centers.
HOTEL JW MARRIOT SANTO DOMINGO
FVI STRENGTHENS ITS BUSINESS MODEL IN THE CARIBBEAN
FIVE STAR ALLIANCE
Real Estate Securities Fund and JW Marriott International join forces for economic development of the region with the opening of the first hotel brand in the Caribbean. It is located on the luxurious Blue Mall Santo Domingo, Dominican Republic, Venezuela owned investment group. With this achievement, FVI consolidates its business model in one of the most attractive regions for investment.
The JW Marriott Blue Mall is for entrepreneurs around the world a must in Santo Domingo, a city of strategic location in the Caribbean continues to position itself in the field of foreign investment and the shopping center industry meeting.
Just four months after its inauguration the JW Marriott Santo Domingo is recognized in a survey by the Marriott Group as the first hotel of this important chain in Latin America in terms of customer satisfaction. It is located in front of the JW Marriott Bogota and JW Marriott El Convento Cusco, ranked second and third, respectively.
This important achievement was the qualification awarded Trip Advisor, internationally validated, the JW Marriott Santo Domingo with the highest rating of 5.0, made by travelers sum. It is confirmed as the best alternative in the city, not only for its excellent service and facilities, but it offers the advantage of belonging to the complex Blue Mall, a shopping center with prestigious brands such as Louis Vuitton the only one in the country-, CH Carolina Herrera and Salvatore Ferragamo; besides having an office tower designed large Dominican and foreign companies operating in the city.
Blue Mall Puntacana en 2016
Real Estate Securities Fund Puntacana Group sign agreement to build a new shopping center class: the Blue Mall Puntacana, whose opening is planned in September 2016, considered to be the largest regional shopping center in the East, in Dominican Republic. The mega project jointly develop and Velutini the Puntacana Group, stands in a construction area of over 29,800 square meters.