Argentina Real Estate Market Defined By Reluctant Builders, Sellers

Patrick Archer foreign investment, real estate

Argentina real estate sales activity has fallen dramatically over the past three years due to government-imposed currency controls. Potential sellers unwilling to part with their properties in exchange for pesos have been the primary culprit, but now reluctant builders are putting an additional squeeze on the supply-side of the housing equation. That was the primary takeaway of this week’s First Annual …

Uruguay Can Now Expand Offshore Drilling Projects 150 Nautical Miles

Patrick Archer competitiveness, foreign investment, real estate, uruguay

After three years of negotiations, Uruguay finally signed an agreement with the United Nations which extends Uruguay’s continental shelf from 200 to 350 nautical miles. The additional 150 nautical miles of underwater land opens up the possibility for Uruguay to move forward with offshore drilling activities on an additional 80,500 square kilometers of underwater territory. According to the UN Convention …

Uruguay Sells Buenos Aires Embassy Building For US$12.5 Million

Patrick Archer buenos aires events, real estate, uruguay

Two months after putting the thirteen-story Recoleta property on the auction block, Uruguay has sold its embassy in Buenos Aires for an estimated 36% haircut. Officially announced in April, the bid process for the property at the corner of Las Heras and Ayacucho closed on June 5th with a total of five bids submitted from Nicolas Billa, Morning Mist Limited, …

Uruguay Forestry Sector Producing Record Electric Power Generation

Patrick Archer agribusiness, competitiveness, foreign investment, real estate, uruguay

Uruguay’s forestry boom continues to attract record levels of foreign investment in timberland, state-of-the-art pulp mills and biomass power plants. And just as the sector is giving back to Uruguay in the form of widespread conservation and reforestation efforts, timber company power projects are now giving the country something it needs to be more competitive: sustainable and affordable energy. The …

Foreign Companies Begin Oil Exploration In Uruguay’s Norte Basin

Patrick Archer competitiveness, foreign investment, real estate, uruguay, us companies

The next chapter in Uruguay’s quest for reduced dependence on foreign oil commenced this week with the announced seismic exploration of two large oil blocks in Uruguay. Dallas-based Schuepbach Energy International (SEI) holds the concessions for the Salto block which occupies 925,000 acres entirely in Salto and the Piedra Sola block which encompasses over 2.5 million acres in four northern Uruguay departments …