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Triple Play: BA Tech District Welcomes 100th Company, Property Values Rising

On January 31, 2012, In ba government, creative class, entrepreneurs, foreign investment, technology, by InvestBA
Inmobiliaria Parque Patricios

IT companies and new residents are restoring classic buildings in the BA Tech District (Click for more info)

The Buenos Aires neighborhood of Parque Patricios is quickly becoming a hip haven for tech companies, young professionals and small service-oriented businesses hoping to cater to the new incoming wave of tech talent. At the core of the barrio, the City of Buenos Aires Technology District is the magnet which is attracting the talent and simultaneously revitalizing the neighborhood.

Clarin’s Pablo Novillo says the four-year-old BA Tech District now counts 101 companies either working in the District or currently moving their offices to Parque Patricios. The influx of 11,000 full-time workers has had a dramatic impact on the real estate values in the southern neighborhood, a trend we noted in the Luxury Latin America article on Investing in Buenos Aires. Novillo estimates real estate values have risen 16.6% since the fourth quarter of 2010.

Since its inception, the Tech District has been responsible for the construction or renovation of over 1 million square feet for office and residential use. And now that there are more full-time workers and residents, small businesses from fast food restaurants to gyms to dry cleaners are beginning to move to the sprawling 500-acre District. The October opening of the Parque Patricios Subte station was a major milestone for connecting non-resident workers to this booming BA barrio. (Full Story in Spanish)

InvestBA was recently invited to tour the Tech District with Valeria Zivelonghi of the Buenos Aires Investor Assistance Center. That feature article from the new issue of InvestBA Privada is available here.

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The Race for Numero Tres: Argentina, Colombia Competing for Foreign Investors

On January 30, 2012, In competitiveness, foreign investment, by InvestBA
PBI Argentina y Colombia

2014: The biggest South American battle might not be the World Cup in Brazil. (Click to enlarge)

During the 1990s, Argentina reported annual GDP numbers over US$150-200 billion greater than South American rival Colombia. Argentina’s financial crisis proved to be a great equalizer a decade ago leaving both Argentina and Colombia with 2002 GDP numbers of approximately US$100 billion.

The ensuing decade has been a story of tremendous growth and nearly lock-step movement as the two economies buck the global malaise and attract more foreign investment. And while Argentina may not be looking in the rearview mirror at the suddenly-surging chivita, Colombia definitely has its sights set on Argentina’s bumper and is easing into the passing lane, according to Jaume Viñas of CincoDias.com.

With mounting deficits, 23% unemployment and social unrest in Spain, Spanish companies are  ramping up their investments in Colombia to the tune of US$274 million in the first 9 months of 2011 alone compared to just US$119 million in all of 2010. Simultaneously, Spanish companies exported US$668 million in goods to Colombia between January and November 2011, a 32% increase over the same period in 2010.

“We believe we are going to surpass the GDP of Argentina in 2014,” says Colombian Minister of Industry Sergio Díaz-Granados, leaving little doubt about who Colombia considers their leading regional rival for the hearts and wallets of foreign investors. The economic stability and positive public image of Colombia created during the unflappable Uribe presidency has carried over to the Santos administration.

Regional investors in Colombia are drawn to the same growth story, consumption patterns and youthful demographics that exist in Argentina. And while Brazil plays host to the World Cup in 2014, the biggest regional battle may in fact be Argentina vs. Colombia for the title of Latin America’s third-largest economy. (Full Story in Spanish)

For more information about investment opportunities in Argentina, download the new issue of InvestBA Privada.

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VanityBA: Algodon Mansion First BA Hotel Named to Relais & Châteaux Collection

On January 27, 2012, In creative class, foreign investment, lifestyle, real estate, tourism, us companies, vanityba, wine & vineyards, by InvestBA

From Gotham With Love. That’s how we summed up our initial impression of the Algodon Mansion in last summer’s issue of InvestBA Privada. Now it seems the hotel that redefined the luxury category in Buenos Aires has joined one of the most exclusive clubs of hoteliers, chefs and restaurateurs. Algodon Mansion is the first and only Buenos Aires hotel to become a member of the Relais & Chateaux Collection.

According to Relais & Chateaux, ”The hotel’s 1912 French classical landmark building has been impeccably restored and re-imagined with stylish contemporary elegance. Attended by 24-hour butlers, each of the 10 suites overlooks the shady residential street as well as an exquisite interior light-well and waterfall cascading into the lobby. Rooms are exceptionally spacious and offer superior amenities and comfort. The restaurant, Chez Nous, reinterprets traditional regional dishes, taking Argentine gastronomy to a new level.”

According to Travel Pulse, “Chez Nous becomes only the second Buenos Aires restaurant to join the Relais & Chateaux Collection.” The Algodon Wines featured at Chez Nous also received their share of accolades this month when Robert Parker’s Argentina Wine Ratings were released. The 2008 Algodon Malbec received a “91″ and the 2008 Algodon Bonarda received a “90.”

For more information about luxury hotels, fine dining and shopping in Buenos Aires, download the new issue of InvestBA Privada.

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Palermo Real Estate: The Buenos Aires Barrio & Brand With The Greatest Demand

On January 26, 2012, In foreign investment, real estate, by InvestBA
Palermo barrio porteño

The diversity of properties and prices within Palermo makes it appealing for porteños and foreigners alike.

The Buenos Aires neighborhood of Palermo is the largest and most populated in the City of Buenos Aires. It also has the most gallerias and boutiques, the most museums and cultural centers, the most gourmet restaurants, the most Subte stations, the best hospitals, the most miles of Mejor en Bici paths and, of course, the most parks and sprawling green spaces. All of which makes today’s headline in Clarín seem like a statement of the obvious.

“Palermo is Increasingly More Expensive.” Wow! Imagine that. Real estate prices are rising in a neighborhood with all of those natural and man-made superlatives. And the second half of the headline is borderline hyperbole: “Palermo Prices Are Approaching Puerto Madero.”  No BA barrio real estate prices are approaching the Neighborless Nirvana of Puerto Madero ($441/square foot), including Palermo ($278/square foot).

The only “approaching” going on in the Buenos Aires real estate market would be Puerto Madero condo prices moving south from their 2009 peak of roughly $464/square foot ($5,000/m2), a trend we have followed for the past 18 months. And the $278/square foot number for Palermo is a blended average. As the article reluctantly reveals, the great thing about Palermo is the wide range of properties and prices within Palermo proper including Villa Crespo ($250/SF), Las Cañitas ($272/SF) and Palermo Soho ($317/SF).

And if you really think $278/SF is expensive, spend a long weekend looking at property in Ipanema or the Jardim Paulista. Or save the trip to Brazil and just take the word straight from Florianopolis or even UBS. Bottom line, you can’t look at Palermo real estate without mixing in some context, and you can’t blame more porteños and foreigners for wanting to live there. (Full Story in Spanish)

For more information about Buenos Aires real estate opportunities, download the new issue of InvestBA Privada.

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InvestBA Private Wealth Missions To Buenos Aires & Mendoza Return

On January 25, 2012, In arts & entertainment, buenos aires events, entrepreneurs, foreign investment, lifestyle, real estate, tourism, by InvestBA
InvestBA Private Wealth Missions

InvestBA Private Wealth Missions unite individual investors in Buenos Aires and Mendoza.

“My wife and I are very grateful to you for exposing us to Argentina”

“We were both amazed at the quality of life in general, in both Buenos Aires and Mendoza.”

“My wife, 6-year-old daughter and I had an incredible time from the moment we arrived!”

“We recently took our first trip to Argentina and had one of the best trips we’ve ever had, and we’ve travelled to five other continents!”

Those are just a few of the testimonials from foreign investors who have joined us for the InvestBA Private Wealth Missions, our annual series of discovery trips in Argentina. The testimonials above were all from U.S. citizens, many of them making their first trip to the Southern Cone of South America.

We launched our Private Wealth Missions in 2008 as a way to introduce small groups of private investors from different countries to the natural beauty, phenomenal growth story and untapped opportunities that await in one of the safest and most livable countries in the Western Hemisphere. In 2012, inbound PWM trips include weeks dedicated to investors from Australia, Brazil, Canada, China, Mexico, South Africa and Western Europe.

The 2012 Private Wealth Mission brochure sets the table for Argentina investment opportunities, explains the Private Wealth Mission concept in greater detail and hopefully encourages you and your family to join us for one of our upcoming Private Wealth Missions in 2012. For more information about PWM pricing and availability, simply fill-out the request form.

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