Uruguay is courting foreign investors who can build affordable housing for lower/middle-class families.

5 years and $5 billion dollars. That’s the goal of the Uruguayan government in courting foreign investors and promoting specific sectors where they see tremendous upside for investors and citizens alike. And a public/private partnership of government officials, developers and other professionals is ready to cross the pond in November to begin the outreach in earnest.

Given the country’s history and strong ties with the Iberian Peninsula, it seems logical the first stop would be Spain. The Trade Mission, which has the support of the Ministry of Foreign Affairs of Uruguay and the Embassy of Spain in Montevideo, will showcase the many benefits the small South American country can offer investors. Those benefits include generous tax exemptions and recently-enacted legal reforms that will facilitate joint ventures between private companies and the State in areas such as energy and civil engineering.

Trade Mission leader and Montevideo-based consultant Julio Villamide says the delegation is courting investment that will achieve the noble goal of developing more affordable housing for lower and middle-class families in Uruguay. He says the government is finalizing a plan that will offer tax exemptions for the construction of housing for sale and rent in hopes of attracting US$4 billion in new investment.

If the delegation is starting off in Barcelona (November 23) and Madrid (November 25), one has to wonder if the U.S. is next on the World Tour. While Spain is the leading source of foreign investment in Uruguay, the U.S. is closing in as a strong number two. Given the abundance and expertise of U.S. companies building energy-efficient, cost-effective housing, the delegacion uruguaya should take their Road Show to the States. (Full Story in Spanish)

For more information about investment opportunities in Uruguay, visit our archives and download the October issue of InvestBA Privada.