Montevideo’s Hotel Casino Carrasco Betting On New Business Plan

Patrick Archer competitiveness, foreign investment, hotels & casinos, lifestyle, real estate, tourism, uruguay

Eighteen months after its March 2013 grand opening, the Hotel Casino Carrasco is arguably the most high-profile luxury hotel in Montevideo. While hotel occupancy is solid (62% last quarter), hotel management is working on a new business plan to drive more business to the casino. Codere, the majority shareholder of the Sofitel Montevideo Casino Carrasco & Spa, is “betting on …

Punta del Este New Construction & Average Prices Cooling Off

Patrick Archer average prices, foreign investment, lifestyle, real estate, uruguay

New residential construction and average condominium prices in Punta del Este are cooling off after a decade of blistering growth, according to new survey of real estate trends in el mercado esteño. Reporte Inmobiliario’s 9th Annual Survey of Punta del Este Real Estate Prices shows real estate prices only rose 1.53% in 2013, average prices have settled at US$4,000 per m2 …

Retail Elite: Uruguay Shoppers Spend The Most In Latin America

Patrick Archer competitiveness, foreign investment, franchises, global rankings, real estate, uruguay

Consumers in Uruguay spend more per capita than shoppers in any other Latin American country, according to a new study from Euromonitor International. The report, which focused primarily on grocery store expenditures, found Uruguayans spent US$730 per capita in 2012 which is 61% more than the number two Latin American market, Chile, where consumers spent US$453. Uruguay shoppers left the …

Boston’s GMO Uruguay Timberland Investment Worth $140 Million

Patrick Archer agribusiness, foreign investment, real estate, us companies

Boston-based global investment management firm, GMO, is making a significant long-term investment in Uruguay with one of the country’s largest timberland acquisitions in recent years. GMO acquired the land from Chile-based Arauco, and the deal encompasses over 110,000 acres (45,000 hectares) spread across 141 parcels in the Rivera and Tacuarembo departments of northern Uruguay, according to El Pais’ Fabian Tiscornia. Arauco …

More North Americans, Europeans Investing in Uruguay Farmland

Patrick Archer agribusiness, foreign investment, real estate, uruguay

The sale of farms is on the rise in Uruguay, and a new wave of investors primarily from the US and Europe are doing the buying, according to a new report in El Pai­s. Pablo Beson describes the buyer profile as individual investors drawn to agribusiness investments in Uruguay as a safe harbor for their money, a stable investment alternative …