Posted by Elena del Valle on August 28, 2007
Andres Montalvo, general director of Construmex
In spite of a slump in bank remittances to Mexico in the last few months, two companies are confident in continued growth. Construmex, a United States housing project supported by Cemex, and DolEx Dollar Express, Inc., an electronic money-transfer agency, recently announced a strategic alliance to facilitate their marketing efforts to reach Mexican immigrants in the United States. They believe many immigrants want to invest in a family home or small business in their country of origin.
Under the new alliance, DolEx promises to promote Construmex at is branches and ensure funds sent for Construmex building materials and monthly payments for a new home are used by beneficiaries and family members specifically for those purposes. Additionally, regular monthly housing credit payments can be made at all DolEx locations. Construmex and Dolex plan to install toll free hotlines at DolEx locations in the U.S. to respond to DolEx client interests in the Construmex service.
“We are thrilled to join forces with a company as reputable as Cemex’ Construmex and are confident that Mexicans in the U.S. will take full advantage of the services of both companies from our combined networks throughout the U.S. and Mexico,” said Salvador Velazquez, general director of DolEx’s operations in Mexico. “Now our clients can both send money home and invest productively in their futures. No other similar program exists in the U.S.”
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“We’re giving Mexican immigrants the opportunity to create wealth by making productive investments in their home country, contribute to the strengthening the economy of our dear country, and, of course, allowing them to build their dream. Most recently, we have witnessed an increased interest in building small businesses in Mexico,” said Andres Montalvo, general director of Construmex.
Since it was established in 2001, Construmex has provided Mexicans working in the U.S credit and financing services to facilitate investments in building materials, self-construction, remodeling and new home purchases in Mexico. The program allows Mexicans who may not be creditworthy the opportunity to own a “dream home” in their motherland. According to the Cemex and Construmex websites, Houston based Construmex has assisted more than 30,000 Mexicans and 8,000 Mexican families living in the United States to build or buy homes in Mexico.
The Construmex program is designed to be comprehensive and is meant for Mexican immigrants to the United States wishing to purchase or have work done in homes in their country of origin. According to promotional materials, Construmex offers interest rates and payment options commensurate with the financial needs of Mexican immigrants.
DolEx has a network of over 875 branches in the U.S. and 10,000 distribution points in Mexico. Cemex, a 100 year old company, is a building solutions company with operations in more than 50 countries.