24 International Developers Want to Build New Punta del Este Convention Center

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

Commercial developers interested in building and managing the planned Punta del Este Convention Center had until last week to submit letters of interest, and no fewer than 24 submitted proposals to Uruguay’s National Development Corporation. The Punta del Este Convention Center will be a seven-building complex built on a 12 acre parcel north of town next to the El Jaguel …

Abandoned Punta del Este Hotel Sells For $10 Million

Patrick Archer foreign investment, hotels & casinos, real estate, uruguay

An abandoned high-rise on Punta del Este’s main drag will be reincarnated thanks to an investor group led by local architect Vito Atijas. Marcelo Gallardo of El Pais says the 17-story property which many locals and visitors remember as the Melia Hotel Punta del Este was purchased for US$10 million. The sale includes the hotel and the adjacent commercial properties …

Prime Punta del Este Parcel Coming To Auction

Patrick Archer foreign investment, real estate, uruguay

One of the most coveted parcels in Punta del Este is coming to the auction block next month, and the announcement will certainly attract multiple foreign investor groups. Land sales in and around Maldonado are nothing new, but the size and location of this particular parcel makes it extremely valuable. According to Marcelo Gallardo of El Pais, the parcel in …

The Missing Link In Coastal Uruguay: The Garzon Bridge

Patrick Archer real estate, tourism, uruguay

In recent years we have witnessed the migration of both tourists and homebuyers away from Punta del Este and up the coast toward more exclusive and undeveloped beaches in the states of Maldonado and Rocha. Highway 10, the Uruguayan equivalent of PCH or Florida’s A1A, meanders 120 miles up the East Coast from the tip of Punta del Este to …

Maldonado, Punta del Este Uruguay Move $7 Million in Real Estate Per Day

Patrick Archer foreign investment, real estate, uruguay

Real estate transactions in the Uruguay state of Maldonando top $7 million dollars a day, according to new data released this week. Marcelo Gallardo of El Pais says a total of US$2.55 billion in real estate deals were closed between April of 2010 and April of 2011. And while projects in Punta del Este account for the bulk of that …