Ten companies won 96.79% of the contract value in Managua's $155.6-million 'Bismarck Martínez' housing program, Confidencial reports.
Subject of this story
What happened
An investigation by Confidencial found that Managua's municipal government awarded 63 projects worth about 5,698 million córdobas ($155.6 million) from 2019 through September 2024 under the "Bismarck Martínez" housing program. About 26 companies received projects, but ten captured 96.79% of the amount, which Confidencial says belong to a network of builders that routinely win the mayor's office's largest public works. It reports the group is 'sponsored' by Fidel Moreno, the mayor's office secretary general and an FSLN official. The national government donated 41 properties to ten municipalities, 28 of them to Managua, and Confidencial verified that at least ten expropriated or confiscated properties were used for the program. Minimum monthly payments, now mortgage installments with bank financing, rose from roughly $40-50 to over $100, reaching $365 in one apartment complex. The text reviewed contains no response from the mayor's office. This rests on a single outlet's investigation.
By the numbers (1)
● confirmed by a primary document · ○ reported
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- Confidencial (Nicaragua)
Diez empresas concentraron el 96.79% de los proyectos del programa de vivienda "Bismarck Martínez"
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