Mexican real estate development company Consorcio Ara, S.A.B. de C.V. (MXK: ARA) has commenced work on a major real estate development project called Citara on land located north of Mexico City in Huehuetoca, state of Mexico, according to a Mexbiznews.com report.  The report said that the project was expected to include 26,000 housing units, 25 schools (kindergarten through secondary school), green spaces, and commercial and industrial facilities.

Consorcio Ara warned on October 22, 2008 that it did not expect revenue growth in in 2008 compared with the previous year because of choppy markets and delay in new residential construction.