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Socma & Pestana Announce New Buenos Aires Real Estate Project

On November 5, 2010, In foreign investment, real estate, by InvestBA
Pestana Buenos Aires Golf Club

The US$40 million Pestana Buenos Aires Golf Club is scheduled to open in late 2012.

A Portuguese hotel group and one of Argentina’s most influential holding companies are partnering to build a US$40 million hotel/condo golf complex on the outskirts of Buenos Aires. Pestana Hotels and Sociedad Macri (Socma) made the announcement yesterday, and the Pestana Buenos Aires Golf Club is scheduled for completion in late 2012.

According to Silvia Stang with La Nacion, the complex will feature 115 condominiums, 68 homes grouped into 3 residential villages, and a 120-room hotel with 15 larger apartment-hotel units. Gianfranco Macri, brother of Buenos Aires Mayor Mauricio Macri, says the new project reflects a shift in priorities for Socma which is focusing on renewable energy, agro-industry and real estate development. Outside of Argentina, Socma has a partnership with Chinese auto manufacturer Chery in Uruguay and is exploring renewable energy opportunities further north in Brazil.

For Pestana, the new project demonstrates their conviction in the current strength and future growth of tourism in Argentina. In addition to their four-star hotel in Downtown BA, Pestana also operates a 23-room hotel in Bariloche. Pestana PR Director Mari­a Joao Naughton told La Nacion the Company plans to expand the Bariloche property to 110-rooms while exploring new hotel opportunities in Mendoza and Montevideo where Sociedad Macri is looking to build new mixed-use projects.

For more information about real estate investment opportunities in Buenos Aires, Argentina and Uruguay, download the new issue of InvestBA Privada.

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Messi Was Rich, China Makes Him Riich(er)

On April 23, 2010, In a-bric, foreign investment, franchises, lifestyle, by InvestBA
Lionel Messi and the Chery Riich

The World Is Flat: An Argentine playing in Spain selling Chinese luxury cars sold on six continents.

Argentina and China may be having a spat over trade and tariffs, but one Chinese company is banking on Argentina’s #1 export to help sell some minivans.

China-based automaker Chery International is rolling out a new MPV called the Riich, and the company chose Lionel Messi to be the face of the vehicle roll-out. Besides making an intriguing global marketing case study, the selection of an Argentine who plays in Spain for a Chinese car sold on six continents also demonstrates the growing appeal of the worlds’ greatest soccer player.

“Messi is the best football player in the world,” said Chery’s Jin Yibo, “and thus he makes a great ambassador to represent our premium Riich brand.” The announcement was made yesterday during the vehicle’s unveiling at the Beijing Auto Show.

While automakers are struggling in other corners of the world, Chinese producers posted a whopping 45% gain in sales last year to 13.6 million vehicles, and analysts predict another double-digit gain this year fueled by government incentives, lower borrowing costs and the added cachet of celebrity endorsers like Messi. “It’s a smart move,” said Shanghai analyst Liu Lixi, “because those unfamiliar with Chinese cars need a famous ambassador to develop an initial interest.”

Now whether or not Messi will be caught on the streets of Barcelona in a Mommy wagon remains to be seen. Just as Tiger Woods was rarely spotted in the Buicks he once endorsed, Messi is unlikely to part ways with his Q7.

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