Commercial Real Estate In Montevideo’s Ciudad Vieja

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

One week after we touted the new wave of commercial investment in Montevideo’s Ciudad Vieja, a new article surfaces explaining why half of all Montevideo companies still prefer the Old Town.

“This neighborhood has all of the government offices, the headquarters for the country’s major banks, the major law firms, accounting firms, the Port and all Customs-related businesses. This makes the Ciudad Vieja a required stop when it comes time to do business,” writes El Pais’ Mariana Goday.

“The Plaza Independencia is without a doubt one of the most important destinations in the neighborhood,” Goday continues, “not only for its symbolic importance as the location of the Executive Tower of the executive branch of the government, but also for being the nexus between Downtown Montevideo and the Ciudad Vieja.

The Ciudad Vieja is now home to 50% of all businesses in Montevideo, although that number was closer to 80% in the 1990s. The opening of the World Trade Center and other office parks in the last twenty years has siphoned some companies away from the CV, but Goday says that trend is slowing with 20 new (mostly office) buildings currently under construction in the Old Town. (Full Story in Spanish)

For more information about living and investing in Uruguay, simply complete the form below.

[gravityform id=55 name=Living& Investing In Uruguay title=false description=false]