Real estate: A developer will invest $60 million this year

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The ECIPSA Group, the developer chaired by entrepreneur Jaime Garbarsky, An investment of 59 million dollars is expected this year. The disbursement includes both the execution of the works and the purchase of land in Argentina, Paraguay and Panama.

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In 2023 the company acquired the stake of IRSA, the company led by entrepreneur Eduardo Elsztain, in the ownership of the former Piccardo Nobility in Buenos Aires, a land of almost 16 hectares. There, ECIPSA will begin work this year on a major 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 initiatives under its belt in 12 cities. And sells lots, houses and apartments in different commercial brands among which Natania and MilAires stand out.

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At an international level, as company sources explain, the Group “continues to expand. The year began with the signing of a new exclusivity agreement with Crystal Lagoons will operate in Sao Paulo, Brazil, under the WoOoW brand and has opened its offices in Israel where they will begin managing the exclusive Crystal Lagoons license for the Middle Eastern country.”

In Paraguay, the group hopes to continue consolidating the investments and projects of the Natania brand, while planning the expansion of the business and bring its international brands also to the new countries of Latin America.

In Argentina it has just completed the Natania 61 megaproject, in Mendoza, with more than 190 apartments. In this undertaking alone he has 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 phase of this project was carried out in the midst of the pandemic. The second phase concluded in 2022 and the last delivery was recently completed.

Walter Fuks, CEO of Grupo ECIPSA, assures that the company “will continue to work and invest in new projects in Mendoza, as well as in other Argentine provinces and in other countries”.

Source: Clarin

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