Cordovan developers are tempted for projects in Uruguay and Paraguay

Cordoba developers have been tempted by public and private sectors in some neighboring countries to bring their products and know how (knowledge) of the activity.

Contacts come from Paraguay and Uruguay. First they were conversations with some companies at the individual level, but now they began to be channeled through the Chamber of Urban Development Entrepreneurs of Córdoba (Ceduc).

If the advance of the coronavirus allows it, the entity would carry out before the end of the month a roadshow so that the Cordovan firms enter into direct relationship with the interested parties.

“In recent times, companies in the sector have been receiving requests from actors in neighboring countries quite frequently, interested in bringing their products to their own markets. know how that these years in Córdoba generated ”, explained Pablo Balián, president of the Cordovan entity.

According to the manager, these are both official organizations and also proposals for private initiatives, which could lead to strategic alliances in each of these places.

“There are neighboring countries where the State offers administrative advantages or facilities in the times and in the approval processes of the projects, when here the characteristic is the administrative blockade or in excess of the terms,” ​​he said.

The first conversations also reveal a better financing offer. “The ventures come with funds from behind so that the end user can buy the property, so that the developer only has to sell, build and deliver,” he added.

First steps in Uruguay

If these possibilities are realized, it will not be the first time that Cordoba developers have left the country. More than 10 years ago, Cordoba firms began working with Uruguay. Currently, Grupo Edisur has for sale the last apartments in Arenas del Mar, a complex of buildings that it developed in Punta del Este.

At that time, the construction company By Best Developers (Boetto and Buttigliengo y Estructuras), with another residential building, and the architecture studios Castagnari-Aznar and BBGOO, both also with similar towers, also landed there.

Local real estate agencies also came to market products in Punta del Este and Montevideo, such as Sergio Villella, ReMax Cañada and JB Srur, among others.

Back then, the public-private organization Destino Punta del Este came to count eight real estate ventures built by Cordovan people.

But in these cases, the developments were accompanied, in many cases, by local investors, who found a more favorable destination for real estate investment. As for buyers, the first group were users from Buenos Aires and the second, from Córdoba.

Opportunity: Escape the recession

The real estate market is at its lowest level.

For some developers, going out to neighboring countries will be an opportunity to escape the stagnant Cordovan market. According to the Ceduc Index, sales in December 2019 represented a third of what was sold in 2011, when the series began.

Print edition

The original text of this article was published on 03/12/2020 in our printed edition.