Press Releases

Apolo Group And Próspera Team Up To Address Local Housing Shortage With Trendy Affordable Residences

Construction expected to create up to 1,300 direct and indirect jobs in Roatan

July 19, 2021

Apolo Group, a prominent Honduran developer, architecture and construction company, and Honduras Próspera Inc., announced today an agreement under which Apolo will design and build the first mixed-use high-rise building in the Roatán Próspera development. The multi-story Apolo project will consist of about 250 units that will help ease the severe shortage of housing for young Honduran professionals and families.

The project is expected to create approximately 300 direct jobs and almost 1,000 indirect jobs in process. Apolo Group said it would shortly announce the process for Roatán residents to apply for the construction and other jobs created by the project.

Gabriel Delgado, Chief Development Officer for Próspera, said Próspera is excited to team up with Apolo Group in delivering such an important and urgently needed project in the Roatán. “With the demand being generated by foreign companies hiring Hondurans through Próspera Employment Services, the problem of soaring urban living costs and the lack of reasonably priced housing alternatives is becoming more serious. Apolo’s project will meet the life-style expectations of young entrepreneurs, professionals and creative innovators, whose vision of a place to live is shaped by their modern way of life and bold aspirations for the future. It will usher in a new era of millennial living on Roatán,” Mr. Delgado said.

The first residential tower will include one- and two-bedroom units, with highly functional and flexible interior layouts adaptable for singles, young couples and families. The project will also include retail space and restaurants, as well as indoor and outdoor lounge areas, trails for hiking and jogging, cycling tracks, yoga and meditation pavilions, and other leisure amenities.

Erik Pitsikalis, CEO of Apolo Group, commented on the key reasons behind the company’s decision to choose Próspera ZEDE as its business partner. “The easy-to-navigate legal and regulatory framework, the streamlined approval processes, and the ease of doing business enabled by the Próspera Platform make investments and development in Próspera extremely attractive and business-friendly,” he said.

Mr. Delgado of Próspera said: “We are excited about the prospect of partnering with the Apolo Group, an experienced and well-respected San Pedro Sula-based company, to build this project. As the first high-rise residential tower targeting young professionals, it is a very significant first step in the development of Próspera Village, designed to become a destination of choice for a generation of aspiring young Honduran homeowners.”

Residences in the Apolo Group tower will be launched to the public in the next several months. Units will be available either for rent or sale, and those who choose to buy will have potential for significant return on investment through rental income or resale.

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About Apolo Group:

In business for more than 15 years, Apolo Group offers its clients the widest portfolio of real estate development services, including planning, architecture, project development and construction. Experienced in commercial, residential and industrial development, Apolo ensures that clients receive personalized, efficient and professional service, and it delivers projects with a long and productive investment horizon. In everything it does, Apolo is committed to safety, health and the environment.

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About Honduras Próspera and the “Próspera Platform”:

Honduras Próspera LLC is a US-domiciled development group that is the Organizer and Promoter of a socioeconomic development zones in Honduras, called the ‘Próspera ZEDE’. These Zones are powered by a new generation governance platform, ‘The Prospera Platform’ that applies the world’s best legal and regulatory environments for doing business to all of its projects.

The Próspera Platform delivers ‘Good Governance as a Service’ based on a seamless integration of international common law, an open regulatory framework, and professional service providers. Its framework is designed to attract significant private investment in job-creating industries and commercial sectors, while guaranteeing absolute respect for human rights and the environment, as part of its core principles.

The company’s first project ‘powered by’ the Próspera Platform is Roatán Próspera, located on the island of Roatán in Honduras. This initiative represents the first proof of concept of the platform’s application and expects to generate over 10,000 direct and indirect jobs by 2025, while contributing to the reactivation of the country’s economy. The company is committed to hiring 90% of Honduran employees with a minimum wage between 10% and 25% above the national base.