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Original article: Empresa vinculada al biministro Daniel Mas mantiene proyectos habitacionales vigentes por casi $25 mil millones con el Estado

Company Linked to Minister Daniel Mas Holds Active Housing Projects Worth Nearly $25 Million with the State

A report by Contrapoder has revealed that Ecomac, a company in which current Minister of Economy and Mining, Daniel Mas, declared stock participation, is maintaining two active housing projects under the Ministry of Housing and Urbanism’s Social Integration and Territorial Program in Coquimbo, with funds exceeding $24 billion.

Two housing projects developed by companies linked to Ecomac remain active under the Social Integration and Territorial Program (DS19) of the Ministry of Housing and Urbanism in Coquimbo. The information, disclosed by Contrapoder through transparency-accessed documents, involves resources totaling over $24 billion.

The projects in question are Condominio Los Arrayanes and Condominio Portal de Peñuelas, both selected under the previous administration of Gabriel Boric specifically on November 9, 2022.

«(Attached) is the present Exempt Resolution, a list of housing projects that have been selected to date under the Social Integration and Territorial program governed by Supreme Decree No. 19, (V. and U.), of 2016, presented by the companies Inmobiliaria and Constructora Ecomac Norte 1 SpA and Inmobiliaria and Constructora Ecomac Norte 7 SpA (…) It is made clear that the indicated projects participated in calling for applications in which they were selected as ‘Not Awarded,’ as that concept is associated with a bidding or public proposal process, which is not applicable in these cases,» clarifies the Minvu official document shared by the cited outlet. 

It is important to note that according to the value of the UF on November 9, 2022, both projects sum a total amount of $24,891,973,295. Of that figure, $14,917,595,909 corresponds to the Condominio Los Arrayanes project (430,020 UF), while $9,974,377,386 pertains to the Condominio Portal de Peñuelas project (287,525 UF). Both projects remain active, according to the information provided by Minvu.

Additionally, according to the official website of the real estate company, both mentioned projects currently have units for sale starting at 2,600 UF. Regarding the Condominio Los Arrayanes, Minvu in Coquimbo highlighted on its social media that the initiative is part of the Social Integration and Territorial Program (DS19) and includes housing adapted for people with reduced mobility, along with access to services located in the surrounding area of the project.

The link with the current Minister of Economy and Mining arises when reviewing his Asset Declaration, which indicates that he has a 50% stake in Administradora ECOMAC S.A since August 24, 2021, acting as the controlling party of the company, positioning him as its main shareholder.

The Environmental Sanction Against Ecomac 

However, the background surrounding the real estate company does not end there. A few months ago, El Desconcierto reported that the company was fined by the Environmental Superintendence (SMA) for violating noise emission regulations during the execution of a housing project. The sanction was later confirmed by the First Environmental Tribunal in April of this year, upholding a fine of 89 Annual Tax Units (UTA), equivalent to about $74 million.

According to statements made by Minister Marcelo Hernández Rojas, the author of the ruling, the fine was confirmed at a time when Daniel Mas had already assumed his position as Minister:

«A fine of 89 UTA was contested, applied by the Environmental Superintendence, for exceeding the noise emission standard, arguing that the procedure took too long, that the fine was no longer relevant because the works are finished, and that the fine was disproportionate. The tribunal, reviewing the evidence, by majority vote rejected the claim (by Ecomac) and also the subsidiary action of expiration, stating that the procedure was handled within a reasonable timeframe. Furthermore, it confirmed that the SMA properly applied the rules for determining sanctions.»

Reactions Following the Revelation 

The Contrapoder team spoke with Coquimbo Deputy Nathalie Castillo, who stated that the official is widely recognized in the region for her background in business organizations linked to the real estate and agricultural sectors. However, she noted that she currently holds a government position, which entails strict demands regarding transparency and integrity:

«Under no circumstances is it appropriate to maintain direct or indirect participation in projects where your company – or entities linked to it – have contracts or relationships with the State. Here there is not only a formal problem but a potential conflict of interest that must be clarified with full transparency. We expect the government to issue a clear and strong clarification on this situation as soon as possible,» Castillo stated. 

On the other hand, the cited outlet contacted the State Secretary’s team to know his version of the events, who indicated that, as is publicly known, the asset declaration of Minister Daniel Mas thoroughly includes all companies in which he has participated, along with his decision to establish a blind trust for managing certain financial assets.

«This is a declaration that goes beyond what is legally required in such cases. I am committed to the mandate entrusted to me by President Kast to lead the Ministries of Economy and Mining, so I am completely dissociated from the businesses since last March,» Mas declared to Contrapoder. 

Finally, they stated that the companies operate under independent management or through delegated asset management mechanisms, so the Minister would not have any involvement or executive functions in those companies. 

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