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Billion Dollar Tax Break- Bloomberg
“I’m as optimistic as I’ve been for real estate in Puerto Rico in the last 10 years,” Matt Prober said.
IRS approved Opportunity Zones program regulations
"According to the government of Puerto Rico, will generate about $ 600 million in new investments on the island, in the short term."
Puerto Rico Designated an Opportunity Zone
"...Thanks also to the resident commissioner, Jenniffer González, for her work in raising awareness about the economic challenges facing the Island and collaborating so we are included as one of the territories that will benefit from this initiative,” the governor added.
Surprising Real Estate Opportunities
Opportunity Zones are previously underperforming markets that everyone should have great expectations for in 2019 and beyond.
PR Governor introduces OZ legislation
Puerto Rico Governor Ricardo Rosselló Nevares has sent a bill to the Legislative Assembly to create incentives that promote opportunity zone investments in Puerto Rico.
Opportunity Zones in Puerto Rico
US Code Section 1400Z-1(b)(3) created a special rule for Puerto Rico, making practically the entire island an opportunity zone. As such, Puerto Rico has 861 designated opportunity zones, including 835 low-income communities, plus 26 non-low-income contiguous tracts.