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Optimista: Argentine Developers Look to 2011

On December 6, 2010, In real estate, visionaries, by InvestBA
Azahares de Paraná

Fútbol phenom Lionel Messi is one of the partners in the largest country club development in Argentina's interior.

December 2009 was a turning point in the Buenos Aires real estate market. After eleven months of home sales weaker than the same month in 2008, sales finally jumped into positive territory in December, a trend that would continue over the course of 2010. Now, one year later, Argentina real estate developers are feeling bullish about their ability to sell existing inventory and launch new projects in 2011.

In the new survey from the Business Chamber of Urban Developers (CEDU), developers said 2010 was a very good year given the sale of lots and the increase in lot values due to growing demand. According to La Nación, two-thirds of those surveyed (66%) said they plan to launch new projects in the first quarter of 2011.

“The niche with the greatest growth potential for 2011 will be projects that encompass less than 2.5 acres,” said CEDU president Raúl Sáenz Valiente, “because a property that size can be acquired without the need for financing.” In terms of Argentina cities where builders anticipate the most new development, Buenos Aires, Córdoba, Mendoza and Río Negro top the list.

In terms of future growth in and around Buenos Aires, several developers surveyed say they are beginning to look south to La Plata and major corridors like Route 58 between Canning and San Vicente where undeveloped land is cheaper, more abundant and in relatively easy driving distance to Capital Federal. (Full Story in Spanish)

For more Argentina and Uruguay real estate data, visit our archives and download the latest issue of InvestBA Privada.

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Punta del Este Prepares for Tourism Tidal Wave

On November 28, 2010, In a-bric, foreign investment, tourism, uruguay, by InvestBA
Coastal Uruguay

Google Maps Don't Lie: More investors are beginning to discover the unspoiled coast north of Punta del Este.

“It’s the law: From Christmas until January 15, Punta del Este explodes with people,” writes La Nacion’s Jose Totah in a sweeping preview of Summer 2011 on the beaches of Uruguay. And unlike previous years when the only storyline was, “It’s Summer 20xx and more Argentines are coming than last year,” today’s headlines are A.) The diversity of who’s coming, B.) The high price of what they’re renting, and C.) The movement inward & upward along the coast.

InvestBA has chronicled the fact that more Americans and Canadians are discovering Uruguay, (Totah reminds us it was a U.S. investor who paid US$27 million for two Jose Ignacio parcels in June.), and it’s no secret wealthy Brazilians make their annual pilgrimage to PdE and buy everything like they do in BA. But Totah says the new arrivals in 2011 will be middle-class Brazilians with a distinct currency advantage (100 Argentine pesos = 500 Uruguay pesos, 100 Brazilian reales = 1,200 Uruguay pesos), and more Uruguayans living abroad who are coming back to discover the beauty and stability of their native land.

In terms of prices, the Jose Ignacio mansions that rent for US$60,000-100,000 for 15 days and the more affordable homes that fetch US$20,000-30,000 for all of January have been booked for months. And the new properties rising from the sands are all ultra-luxury like The Setai which will feature homes priced at US$3.5 million, and JHSF’s Las Piedras Villa whose luxury chacras will rent for US$800-US$1,200 per night. And finally, the wealthy are moving away from the maddening crowds toward more remote and unspoiled terroirs like Garzon, La Pedrera, La Paloma and Punta del Diablo, which Nina Lavagna describes as “a-fishing-village-turned-real-estate-revolution.” (Full Story in Spanish)

For more information about investment opportunities in Punta del Este and other regions of the Tango Coast, visit our archives and download the latest issue of InvestBA Privada.

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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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VanityBA: Argentina’s Next Top Models

On October 9, 2010, In arts & entertainment, culture, vanityba, by laura

Argentine model Tatiana Cotliar in the F/W 2010 campaign for Valentino

Brazil has long been known as a producer of some of the world’s most beautiful and successful models. Giselle Bündchen, Adriana Lima, Alessandra Ambrosio, and many others have graced the covers of fashion’s top magazines and strutted down the runways of the world’s top designers. Recently, however, it seems as if Brazil’s neighbor to the south may be catching up in this regard. New York Magazine recently published the article Are Argentinians on Their Way to Modeling World Domination? and in an interview with La Nacion, four of Argentina’s top models discuss their careers and upcoming campaigns. Twenty-one year old Tatiana Cotliar, one of fashion’s most in-demand faces, hails from Buenos Aires and has served as the face of Valentino, Top Shop, Vivienne Westwood and Proenza Schouler. When she opened the Marc Jacobs Fall 2010 show as a relative unknown, the fashion world immediately took notice. Antonella Graef has appeared in Vogue and Elle and in shows for Jill Stuart, Rodarte, and Givenchy Couture. Dafne Cejas, who is extremely new to the world of modeling has already appeared in the French and Italian versions of Vogue and has worked with photographers like Mert & Marcus, Steven Klein and David Sims. Florencia Gennaro, a three-year veteran of the international modeling circuit, has appeared on the runways of Dior Couture, Anne Demeulemeester, Louis Vuitton, Lanvin, Marni and Nina Ricci, among others. With this influx of talent in its beginning stage, one can expect to see many more Argentine faces in the pages of fashion’s most influential magazines in the months and years to come.

For more on Argentine fashion, design and culture, check out the VanityBA Archives and subscribe to our premium content newsletter, InvestBA Privada.

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VanityBA: Buenos Aires Photo

On October 7, 2010, In arts & entertainment, buenos aires events, creative class, culture, vanityba, by laura

A photo by Alejandro Chaskielberg, a finalist for the Concurso Petrobras Buenos Aires 2010

From October 27-31, the annual Petrobras Buenos Aires Photo event will take place at the city’s Palais de Glace in Recoleta, where photographs from some of the world’s top photographers will be on display. Many of Argentina’s most prominent galleries, such as Rolf Art- Productora de Arte, Ruth Benzacar Galería De Arte, 713 Arte Contemporáneo, and  Galeria Rubbers Internacional will be in attendance, as will some notable foreign galleries including Miami’s Sammer Gallery, Santiago’s Galería Isabel Aninat & Cecilia Caballero Art Consultant, and Spain’s Galería Barcelona. The photos, which range from classic to contemporary, cover a huge variety of topics, subjects, and styles. The event is organized by Arte al Día and La Nación and is sponsored by Petrobras, Prudential, Fundación Deloitte, and American Express. Other sponsors have invited certain artists and curators to take place in Buenos Aires Photo; Patio Bullrich and Madero Harbour are sponsoring artists Flavia Da Rin and Adriana Lestido, respectively, while curator Rodrigo Alonso is sponsored by Hope Funds and curator Julio Sanchez is sponsored by OSDE.

For more information on Buenos Aires art and cultural events, check out the VanityBA archives and download the October issue of InvestBA Privada.

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