International Funds Continue to Trust in Uruguayan Lands as a Safe Investment. Caldeyro Victorica Advices Them

2013 has ended and we would like to share with you some of our greatest achievements and most important sales of the year.

SODIMAC, Howard Johnson and Caspian Polo Group establish in Uruguay with their first projects hand in hand with Caldeyro Victorica.

SODIMAC lands in Uruguay and Caldeyro Victorica finds the right place for it

It has been over seven years ago, motivated by our loyal clients need for advice, that we began to incur in the urban real estate business in areas with ascending value and quality of investment, such as Carrasco in Montevideo, Los Lagos in Canelones and Punta del Este in Maldonado.

It is precisely at Los Lagos, where the Chilean company SODIMAC defined the acquisition of a 3 hectare lot presented by Caldeyro Victorica Real Estate, with a value of over U$S 11 million.

Our professional advice focused in filling the key needs of the client, such as the size of the land, the accessibility and also the strategic location of the land. The lot is located at Giannattasio Avenue, very close to the Carrasco International Airport and in one of the areas with the largest demographic growth over the last few years.

In an interview with the newspaper “El País”, the corporate CEO, Enrique Gundermann, explained that the firm foresees an initial investment in uruguay of  around U$S 40 million.

According to the article, “SODIMAC’s plan is to establish 4 stores in Uruguay before the end of 2016. This will imply over 600 employments and also a large number of indirect employments to provide the stores with different services”.

This is excellent news for Uruguay which goes with our mission to “contribute to make Uruguay a place to live, work and invest”.

It is also an excellent financial input for the department of Canelones who has collaborated and supported the project at all times.

With investments such as this one, Uruguay continues to position itself as an attractive an interesting place to invest, mainly due to its economic stability and the benefits it provides to the investor.

At Caldeyro Victorica we are proud to promote and participate in this process, leading the way regarding real estate advice, a key factor when providing competitiveness.

In this regard, Gundermann stated that “Uruguay is a country which we have studied for some years and has a very interesting market; it has all the characteristics which we think are relevant in a market. It is a very stable country, with a strong development of socio-economical segments with middle incomes and has an important home culture”

SODIMAC is a Chilean company which sells different products regarding home improvement and construction materials.

The company belongs to the Falabella holding.

With sales over U$S 5.300 million in 2012, SODIMAC currently operates with 136 stores in Argentina, Chile, Colombia and Peru. With the acquisition of the Brazilian chain Dicico, it will add another 57 stores which will in turn consolidate its entrance in the Brazilian market.

Howard Johnson: a remodeled “Hostería del Lago”

 

Our second success is the participation in the acquisition of the emblematic Hostería del Lago by the Argentinian investor Caspian Polo Group, for an approximate value of U$S 4.4 million.

The hotel was built in 1980 by the partners who manage it until this day.

Its strategic location within Canelones and the investment incentives provided by the government through the “Régimen de Promoción de Inversiones” contributed to the completion of this project.

The hotel features a strong construction in a privileged location on the Lago de la Caleta, minutes away from the Carrasco’s International Airport, Zona Franca and Carrasco. It is the biggest hotel in Canelones and it deserved a project that would re-emerge as the outstanding place it once was.

This project is the first in Uruguay for this Argentinean group with strong links with the Argentinean Polo, and has a number of entrepreneurships in its country of origin.

The hotel will operate as a condo-hotel which is also something completely new in Canelones, this being the first project of its kind.  The steps taken by the architects Mariana Caldeyro and Enrique Ohno’s firm has already had great success and they are already expecting to begin the remodeling of the building.

The condo-hotel model basically considers the property as a horizontal property managed by a hotel chain. In other words, the rooms are commercialized just as if it were apartments for sale.  With over 60% of its units sold, the project is already a success.

The famous hotel chain Howard Johnson has already signed the contract with the investor group and will be in managing the hotel for 25 years.

At Caldeyro Victorica we are very proud to promote Uruguay and participate in these significant investments that show how foreign capitals are still very interested in investing in our country.

 

International funds keep betting on agricultural land in Uruguay.

Last but not least, we have excellent news regarding farmlands.

We were chosen, once again, by a successful Uruguayan management firm, in order to advise them in the acquisition of 1000 Hectares in Flores.

The funds managed by this firm are, mainly, from the United States.

 

For more information:

CALDEYRO VICTORICA REAL ESTATE
Acapulco 1605
Tel: 2 600 84 96
caldeyro@caldeyro.com