State holding Corporación CIMEX took over Residencial Tarará, a real estate management company that controls part of an eight-decades old gated marina community in east Havana, official business weekly Opciones reported.

The state holding took over from Grupo Cubanacan, Puerto Sol, and Cubalse S.A., a state holding dissolved by the government last year. CIMEX  is planning to market its rental properties to expats and part-time foreign residents.

Recently renovated home at Tarará

 

CIMEX continues renovations at Tarará while leasing homes and apartments. According to a company executive, 50 units are currently leased, and another 50 are available.

Tarará, which includes 400 homes, a motel, beach, marina, cultural center, cafeteria, hard-currency store, Che Guevara museum and pool, was started by U.S. real estate developers in the 1920s. It acquired its current modernistic look in the 1940s, when most homes in the compound were built. In the 1970s, the government turned Tarará into a young pioneer camp; in the 1990s, the compound hosted Ukrainian children sickened by the Chernobyl nuclear disaster.

However, lack of resources caused buildings and other infrastructure to decay in the 1990s. Starting in 2001, Cubanacan and Cubalse were put in charge to renovate the compound, add a hotel and other tourism infrastructure, and re-do the street grid, partly turning Tarará into a commercial venture. On April 1, CIMEX took over.

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