Today, at a 4:00 PM City Council session, the Oaxaca de Juárez municipal government will vote on a resolution approving the removal of a section of Las Rosas Street—located in the Reforma neighborhood—from the public domain. The resolution sets the price for its potential sale to Banca Mifel (acting as trustee for Trust 8929/2025 GFM, linked to the Parque Oaxaca project) at 24 million pesos.
The amount approved by the Commissions on Public Works, Urban Development and Metropolitan Area, and Municipal Finance is more than triple the 7.486-million-peso valuation determined by the Institute for the Administration and Appraisal of National Assets (INDAABIN) for the disputed 2,440-square-meter area.
Resolution CU/COPDUYZM/CH/DIC/001/2026 notes that the Municipal Social Development Council—which issued a favorable opinion on June 25—proposed raising the sale price above the official appraisal. This proposal was based on the urban, economic, and territorial appreciation that the real estate development is expected to generate in the immediate vicinity.
The street section measures 122 linear meters in length and 20 meters in width. According to the case file, the request for removal from the public domain was submitted on June 17 by Ayram Antonio Álvarez Sierra, the legal representative for Banca Mifel. The bank demonstrated that it holds the fiduciary title to the properties surrounding virtually the entire perimeter of that street segment.
Technical reports from the Directorate of Urban Planning and Permits and the Directorate of Mobility, included in the file, concluded that the street does not serve as a structural, primary, secondary, or collector road. Furthermore, they determined that removing it from the public domain would not compromise connectivity or third-party access, as the area is almost entirely surrounded by properties held within the same trust. On June 23, the Municipal Legal Department issued a favorable opinion via official letter CJ/1503/2026, recommending that—in addition to complying with the formalities of the Municipal Organic Law—the file be forwarded to the State Congress pursuant to Article 10 of the Regulations on Municipal Assets, given that the property in question was formerly part of the public domain.
The ruling establishes two conditions for Banca Mifel to exercise the right of first refusal provided for in Article 12 of the Regulations on Municipal Assets (as an adjoining property owner): paying 24 million pesos to the Municipality and assuming the obligation to maintain the area as a pedestrian walkway and functional connection between Las Rosas Street, Netzahualcóyotl Street, Porfirio Díaz Boulevard, and Niños Héroes Avenue, operating during hours determined by the purchaser.
If these conditions are not met or the right of first refusal is not substantiated, the document stipulates that the sale must be conducted via public auction, in accordance with the general rule set forth in Article 12.
The ruling specifies that proceeds from the sale will be allocated to public works, the improvement of public spaces, mobility initiatives, and municipal infrastructure, in accordance with the 2025-2027 Municipal Development Plan.
If approved at this afternoon’s City Council session, the agreement must be published in the State Government’s Official Gazette and the Municipal Gazette, and the complete file will be forwarded to the Oaxaca Congress for the purposes of Article 10 of the Regulations on Municipal Assets.
Source: elpinero
