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Real Estate: a developer will invest US$60 million this year

2024-02-12T00:13:45.671Z

Highlights: The ECIPSA Group, the developer chaired by businessman Jaime Garbarsky, projects an investment of US$ 59 million for this year. The disbursement includes both the execution of works and the purchase of land in Argentina, Paraguay and Panama. In 2023, the company acquired the participation of IRSA in the property of the former Nobleza Piccardo in Buenos Aires. It is a real estate business holding company made up of development, construction and real estate companies that have been building in the country for 45 years.


The company has just delivered the last homes in a complex in Mendoza. It also operates in Paraguay and Paraná.


The ECIPSA Group, the developer chaired by businessman Jaime Garbarsky,

projects an investment of US$ 59 million for this year.

The disbursement includes both the execution of works and the purchase of land in Argentina, Paraguay and Panama.

In 2023, the company acquired the participation of IRSA, the company led by businessman Eduardo Elsztain, in the property of

the former Nobleza Piccardo

in Buenos Aires, a land of almost 16 hectares.

There, ECIPSA will begin working this year on an important mixed-use development.

It is a real estate business holding company made up of development, construction and real estate companies that have been building in the country for 45 years.

It has 101 ventures in 12 cities to its credit.

And it sells lots, houses and apartments under different

commercial brands, among which Natania and MilAires stand out.

At an international level, as explained by company sources, the Group “continues to expand.

“It began the year by signing a new exclusivity agreement with

Crystal Lagoons to operate in São Paulo, Brazil under its WoOoW brand

and opened its offices in Israel where they will begin to operate the exclusive Crystal Lagoons license for the Middle Eastern country.”

In Paraguay, the group hopes to continue consolidating its investments and projects of the Natania brand, while planning to expand the business and

take its international brands also to new Latin American countries.

In Argentina, it has just completed its Natania 61 megaproject, in Mendoza, with more than 190 apartments.

In this venture alone, it invested more than

$19.6 billion

for the development of Gigante de Cuyo, a complex of 3 towers with more than 400 units including apartments, commercial premises and garages.

The first stage of this project was delivered in the middle of the pandemic.

In 2022, the second stage concluded and the last delivery was recently completed.

Walter Fuks, CEO of Grupo ECIPSA, assures that the company "will continue working and investing in new projects in Mendoza, as well as in other Argentine provinces and other countries."

Source: clarin

All business articles on 2024-02-12

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