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Eduardo Elsztain highlighted Milei's "remarkable fiscal discipline" and gave details of his investment of more than USD 2,000 million in CABA - Infobae
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www.infobae.com
August 14, 2024
The IRSA president spoke about the Government and was optimistic. “Argentina has everything it needs to move forward,” he said at the Real Estate Expo held in Puerto Madero.
By Jose Luis Cieri
Eduardo Elsztain, president of IRSA, at the Expo Real Estate 2024
At the closing of the first of the Real Estate Expo, which is taking place until tomorrow at the Hilton Hotel in Puerto Madero, IRSA President Eduardo Elsztain spoke .
The businessman, one of the most influential in Argentina and very close to President Javier Milei , gave an optimistic outlook on the direction of the economy and the current general management of the Government. “In 8 months I see a remarkable fiscal discipline, something rarely seen before. Mortgage credit will be the great engine of progress in the real estate sector,” said the head of the economic group –which also has other companies, such as Banco Hipotecario and Cresud– which will begin before the end of the year the works for a mega real estate project that will require an investment of more than 2,000 million dollars.
IRSA –Inversiones y Representaciones Sociedad Anónima– is the largest Argentine real estate investment company. It is listed on Wall Street and is the main owner of shopping centers and malls in the country.
After his speech at the exhibition that brought together developers, real estate agents and the general public, the businessman held a talk with journalists in which Infobae participated . “If everything continues like this and this fiscal discipline is maintained, inflation remains low and credit at reasonable rates is consolidated, I have no doubt that 2025 will be a great year of growth for the entire economy,” he said.
Ramblas del Plata, the new mega project in CABA where the Boca Juniors Sports City was once planned. It occupies 73 hectares
Elsztain added that “trust is vital” and that, in this way, “people will increasingly be encouraged to access credit. For this, the digital path is key, the simulation of a credit and the installments through income is something superior and will allow thousands of Argentines to make the effort to pay for their own home.”
“This is the first time that in times of crisis we have all the stores full in all our shopping malls. What's more, in the DOT and other centers in the interior of the country there is a waiting list because the stores that suffered during the first four months and the final stretch of last year are now showing a recovery in sales. If the economy prospers, they will continue to expand sales and will recover to good levels,” he said.
For example, Ramblas del Plata, the neighborhood that will seek to extend the City of Buenos Aires to the south. It will be built in the former Boca Juniors Sports City, on 73 hectares where several developments will be made that will add up to more than 6,400 homes of different sizes and styles. “The idea is that they can be sold at a similar cost per square meter as Puerto Madero, but our objective is to target the middle and upper middle class, and that they can buy with a mortgage loan,” said Elsztain.
The development, which will be completed in about 12 years, aims to be the youngest neighborhood in CABA and its surface area will be similar to Villa Ortuzar.
In addition, IRSA will build apartment buildings in Polo Dot (next to the shopping mall), will renovate the Edificio del Plata to transform its offices into housing (Casa FOA will be built there in October), will build the Mz35 project in the Buenos Aires neighborhood of Caballito, and in La Plata will build a “mixed-use center” that will have a shopping center, several residential plots, a hotel and entertainment centers, among other areas.
“The re-emergence of mortgage credit was the starting point for our country's new economic horizons. IRSA's track record in the real estate market is the guarantee of the projects we will be developing at the federal level,” said Elsztain.
The planned investment for these projects exceeds USD 2 billion, and in several cases, various national and international development groups will participate.
This is what the area near the DOT in the Saavedra neighborhood in CABA will look like
Jorge Cruces , Chief Investment Office of the company, also mentioned other projects, such as housing in Rosario (in the vicinity of Alto Rosario), the developments in front of Abasto Shopping, a gated community in Ezpeleta, in the south of GBA, two buildings next to Córdoba Shopping and a development near the Carrasco airport, in Montevideo, Uruguay.
“IRSA continues to deepen the concept of personal solutions, where housing and the daily services provided by the shopping center are integrated. Whether it is to go to the supermarket, do the shopping or for recreational activities, our focus is on making people's lives easier,” said Cruces.
“Even if people make an effort, they will always pay for their home, and we believe that if everything goes well, in 10 years the former Boca Sports City project will be the axis of greatest expansion in CABA. It will have its public plaza and recreational areas,” said Ruiz de Gopegui.
There will be 1 to 4-room apartments, as well as service areas, schools and health centres.
www.buyellba.com
Source:
Eduardo Elsztain destacó la “disciplina fiscal notable” de Milei y dio detalles de su inversión por más de USD 2.000 millones en CABA
El presidente de IRSA habló del Gobierno y se mostró optimista. “La Argentina tiene todo para salir adelante”, sostuvo en la Expo Real Estate que se realizó en Puerto Madero
www.infobae.com
August 14, 2024
The IRSA president spoke about the Government and was optimistic. “Argentina has everything it needs to move forward,” he said at the Real Estate Expo held in Puerto Madero.
By Jose Luis Cieri
Eduardo Elsztain, president of IRSA, at the Expo Real Estate 2024
At the closing of the first of the Real Estate Expo, which is taking place until tomorrow at the Hilton Hotel in Puerto Madero, IRSA President Eduardo Elsztain spoke .
The businessman, one of the most influential in Argentina and very close to President Javier Milei , gave an optimistic outlook on the direction of the economy and the current general management of the Government. “In 8 months I see a remarkable fiscal discipline, something rarely seen before. Mortgage credit will be the great engine of progress in the real estate sector,” said the head of the economic group –which also has other companies, such as Banco Hipotecario and Cresud– which will begin before the end of the year the works for a mega real estate project that will require an investment of more than 2,000 million dollars.
IRSA –Inversiones y Representaciones Sociedad Anónima– is the largest Argentine real estate investment company. It is listed on Wall Street and is the main owner of shopping centers and malls in the country.
After his speech at the exhibition that brought together developers, real estate agents and the general public, the businessman held a talk with journalists in which Infobae participated . “If everything continues like this and this fiscal discipline is maintained, inflation remains low and credit at reasonable rates is consolidated, I have no doubt that 2025 will be a great year of growth for the entire economy,” he said.
Ramblas del Plata, the new mega project in CABA where the Boca Juniors Sports City was once planned. It occupies 73 hectares
Elsztain added that “trust is vital” and that, in this way, “people will increasingly be encouraged to access credit. For this, the digital path is key, the simulation of a credit and the installments through income is something superior and will allow thousands of Argentines to make the effort to pay for their own home.”
“This is the first time that in times of crisis we have all the stores full in all our shopping malls. What's more, in the DOT and other centers in the interior of the country there is a waiting list because the stores that suffered during the first four months and the final stretch of last year are now showing a recovery in sales. If the economy prospers, they will continue to expand sales and will recover to good levels,” he said.
Ten developments on the way
The president of IRSA announced that the company has plans to develop a dozen housing projects, both in the AMBA and in the main cities of Argentina.For example, Ramblas del Plata, the neighborhood that will seek to extend the City of Buenos Aires to the south. It will be built in the former Boca Juniors Sports City, on 73 hectares where several developments will be made that will add up to more than 6,400 homes of different sizes and styles. “The idea is that they can be sold at a similar cost per square meter as Puerto Madero, but our objective is to target the middle and upper middle class, and that they can buy with a mortgage loan,” said Elsztain.
The development, which will be completed in about 12 years, aims to be the youngest neighborhood in CABA and its surface area will be similar to Villa Ortuzar.
In addition, IRSA will build apartment buildings in Polo Dot (next to the shopping mall), will renovate the Edificio del Plata to transform its offices into housing (Casa FOA will be built there in October), will build the Mz35 project in the Buenos Aires neighborhood of Caballito, and in La Plata will build a “mixed-use center” that will have a shopping center, several residential plots, a hotel and entertainment centers, among other areas.
“The re-emergence of mortgage credit was the starting point for our country's new economic horizons. IRSA's track record in the real estate market is the guarantee of the projects we will be developing at the federal level,” said Elsztain.
The planned investment for these projects exceeds USD 2 billion, and in several cases, various national and international development groups will participate.
This is what the area near the DOT in the Saavedra neighborhood in CABA will look like
Jorge Cruces , Chief Investment Office of the company, also mentioned other projects, such as housing in Rosario (in the vicinity of Alto Rosario), the developments in front of Abasto Shopping, a gated community in Ezpeleta, in the south of GBA, two buildings next to Córdoba Shopping and a development near the Carrasco airport, in Montevideo, Uruguay.
“IRSA continues to deepen the concept of personal solutions, where housing and the daily services provided by the shopping center are integrated. Whether it is to go to the supermarket, do the shopping or for recreational activities, our focus is on making people's lives easier,” said Cruces.
Expansion
Gervasio Ruiz de Gopegui , manager of ventures, and Ezequiel Barenboim , manager of developments of the company , also participated in the meeting . Both said that housing is an axis that will grow strongly in the country in the coming years.“Even if people make an effort, they will always pay for their home, and we believe that if everything goes well, in 10 years the former Boca Sports City project will be the axis of greatest expansion in CABA. It will have its public plaza and recreational areas,” said Ruiz de Gopegui.
There will be 1 to 4-room apartments, as well as service areas, schools and health centres.
www.buyellba.com
