A Bright Future for Asunción: Major Projects Will Transform the Face of the Costanera

The Costanera of Asunción is undergoing a historic transformation, with a series of emblematic projects promising to make it a key economic, cultural, and tourist hub for the region. From strategic land auctions to the creation of an innovative museum, the revitalization of the historic port, and the proposal of a national stadium, these developments aim to position the Costanera as one of the most significant locations in Paraguay.

December 18 will be a key date as the Municipality of Asunción, under the leadership of Mayor Óscar Rodríguez, will hold an auction for two lots in the Costanera Norte, approved by the Municipal Council on November 21. In total, six hectares will be divided into two lots: one of four hectares and another of two. The starting price has been set at 28 billion guaraníes per hectare, a value reflecting the current potential of the real estate market in this strategic area.

The goal of the auction is to attract both national and international investors interested in developing gastronomic, entertainment, and residential proposals. This plan is inspired by the success of Puerto Madero in Buenos Aires, which transformed from an abandoned port into one of the most valued neighborhoods in the Argentine capital thanks to private investment. With a regulatory framework established in 2019, the auctioned lands are authorized for leisure and real estate development activities, enhancing their appeal for high-impact projects. The auction will follow an ascending bid mechanism, ensuring that the investor with the highest offer secures the property.

In addition to the auction, the Costanera will become home to the Museum of Science and Technology of Asunción (MuCi), a project set to revolutionize the country’s cultural and educational offerings. Covering an area of 14,000 square meters, the MuCi will feature a state-of-the-art spherical planetarium, several interactive exhibition halls, a scientific library, laboratories, elevated gardens, recreational spaces, a park, and a restaurant overlooking Asunción Bay. The construction of the museum, with an estimated investment of $20 million, will be largely financed by the Peery Foundation from the United States.

The planetarium will be the centerpiece of the MuCi, featuring an 18-meter diameter sphere with advanced immersive technology. This space will allow the public to embark on virtual journeys through the universe, explore galaxies, and observe astronomical phenomena in real time. Additionally, the planetarium will have the capability to project IMAX films and live events, such as concerts and sports competitions, making it a multifunctional space unique in South America.

Another significant milestone in the development of the Costanera is the revitalization of the Port of Asunción. This historic site, which has been vital for commerce and river transport in the country since 1907, will be transformed into a gastronomic and cultural hub. The project includes the remodeling of four warehouses, which will house a Gastronomic Market with 32 establishments, an event center called "El Gran Galpón" with a capacity for 5,000 people, and a high-end Sport Bar for 1,000 guests. The plan also includes services such as gyms, hair salons, pharmacies, and currency exchange offices, turning the port into a comprehensive space for both residents and tourists. According to current timelines, the Port of Asunción is expected to be operational by the end of 2025, marking a new chapter in the history of this iconic site.

Finally, the Paraguayan Football Association (APF) has proposed a project to build a national stadium in the Costanera Norte, with an eye on the 2030 FIFA World Cup. This stadium, with a capacity of 47,000 spectators, will be designed with inspiration from the ñandutí embroidery, a symbol of Paraguayan tradition. The construction, expected to be completed by 2028, would provide a significant boost to the country's sports infrastructure and establish the Costanera as a highly relevant multifunctional space. The project is still under review, but if approved, it would represent a major development for the area.

With all these projects underway, the Costanera of Asunción promises to become the epicenter of modernization in the capital, blending tradition and innovation to offer an attractive and dynamic environment. The city is moving toward a promising future, where this iconic space will be synonymous with progress and development.