Yesterday marked the launch of Midtown Las Mercedes, a building set to redefine the concept of urban living in Paraguay's capital. Located at Sociedad 1210 Street in the Las Mercedes neighborhood, this development combines design, spaciousness, and functionality, positioning itself as an innovative proposal in the real estate sector. The Las Mercedes neighborhood has become one of the city's most attractive residential hubs. Its strategic location provides easy access to major urban centers, Asunción’s historic downtown, prestigious schools, shopping areas, essential services, and a vibrant selection of dining and nightlife options. These features make Las Mercedes an ideal choice for those seeking quality of life, diversity, and convenience. Midtown will feature seven floors of apartments designed to suit different lifestyles. Options will include one, two, and three-bedroom units, with an innovative addition: "one-and-a-half-bedroom" apartments. This concept introduces an extra space that residents can use as needed, whether as an office, entertainment area, or storage space. The largest apartments, featuring three bedrooms, will include the penthouse, regarded as the building’s crown jewel. Unit sizes range from 63 square meters for one-bedroom apartments, 75 square meters for one-and-a-half-bedroom units, 110 square meters for two-and-a-half-bedroom units, and 140 square meters for three-bedroom units. Launch prices start at $95,000, offering an excellent balance of quality, design, and location. Spaciousness is one of the most notable features of the project. This approach extends not only to the apartments but also to the common areas and parking spaces. The latter measure 3 meters by 5.50 meters, significantly exceeding market standards, ensuring comfort and ease of use for residents. Every detail in the design reflects the intention to offer generous and functional spaces, a rare attribute in today’s real estate market. Midtown Las Mercedes also stands out for the quality and variety of its amenities, designed as extensions of each apartment. These include a pool for daily relaxation and refreshment, a solarium area perfect for enjoying sunny days, a spacious multi-purpose room equipped with a grill for social events, and a gym designed to promote a healthy and balanced lifestyle. Additionally, all apartments feature large balconies with private grills, a guest bathroom, and layouts that prioritize functionality and comfort. The architectural design is led by Christian Gould of Gould Arquitectura, known for his unique approach that utilizes natural materials such as marble, travertine, stainless steel, and exposed concrete. According to Gould, the aim is to create an authentic and sophisticated design that stands apart from any other proposal in the market. This minimalist and modern approach reflects a design philosophy that celebrates simplicity and authenticity while offering high aesthetic value. In terms of financing, Midtown Las Mercedes offers flexible options tailored to buyers' needs. Interested parties can choose self-financing for up to eight years or access bank financing through a strategic alliance with Ueno Bank, which offers exclusive benefits. Additionally, during the construction phase, units can be purchased with an initial down payment of 20% and interest-free installments. Construction of the project is scheduled to begin in early 2025, with an estimated duration of 20 months. This timeline projects the delivery of units in the third quarter of 2026, marking a significant milestone in the city’s development. The Midtown Las Mercedes project is backed by prominent players in the real estate sector, who have joined forces to bring this ambitious proposal to life. RD Investments, under the visionary leadership of the Rolón Domínguez family, stands as the primary investor and developer of this innovative building. This relatively new company in the real estate industry has identified a unique opportunity in Paraguay’s growing market, especially in Asunción, which is undergoing an urban development boom. Midtown Las Mercedes represents the first step in RD Investments' long-term strategy to establish itself as a benchmark in the sector. In addition to RD Investments, Gao Desarrollos Inmobiliarios plays a crucial role in the conceptualization and execution of the project. Established in 2016, this company has evolved from developing gated communities and affordable housing to more sophisticated projects in Asunción, with a total of six buildings already completed. Their expertise in designing residential and commercial solutions, along with their commitment to innovation and technology, adds significant value to the development of Midtown Las Mercedes. For the construction phase, S3 Constructora is responsible for bringing the project's vision to life, ensuring high-quality standards at every stage of the construction process. Renowned for its focus on trust, flexibility, and personalized consulting, S3 Constructora is dedicated to ensuring that every detail of the building reflects the excellence and functionality future residents expect. Their experience in constructing landmark projects supports the promise that Midtown Las Mercedes will be a true gem in Asunción’s urban landscape. The launch of Midtown Las Mercedes represents much more than just the construction of a building. It is an investment in Asunción’s future, providing a place where families and professionals can grow and create a home. With a privileged location, innovative design, and top-tier amenities, this project redefines the concept of housing in Paraguay, becoming a symbol for those seeking quality, spaciousness, and authenticity in their lifestyle. For more information about this exclusive project, interested parties can contact Leticia De Gásperi, real estate advisor for C21 Paraguay Wilson-Chihan, who is exclusively handling the sales of Midtown Las Mercedes. She can be reached at +595 981 910640 for inquiries and additional details.

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.

Sunset Village is an exclusive gated community that redefines the concept of integrated living in Nueva Asunción. Strategically located on Route D075 and just 1,000 meters from the Héroes del Chaco bridge, this development combines nature, security and a modern lifestyle, designed so that its residents can enjoy all the comforts without having to leave the complex. Spanning over 5 hectares, Sunset Village offers 191 carefully designed lots, averaging 180 square meters, with larger options for those looking to build larger properties. Future residents have the possibility of acquiring lots with or without construction, with the option of five types of homes ranging from one bedroom to three bedrooms, adapting to the particular needs of each client. The project incorporates a wide variety of essential services, such as a supermarket, pharmacies and commercial premises, which allow residents to meet their daily needs within the complex. These facilities not only offer convenience, but also reinforce the security of the gated community, guaranteeing a harmonious and practical life. Sunset Village's design includes unique amenities that promote a family-friendly and social lifestyle. Residents will be able to enjoy a fully equipped gym, a game room, a social lounge, and various sports courts, including a multi-sport court and a paddle court. In addition, there will be a large swimming pool and a cafeteria within the complex, which will become an ideal space for social gatherings and moments of leisure. The supermarket, located on the road, will have exclusive access from inside the condominium, ensuring a safe and convenient experience for its residents. Sunset Village's location is another of its great attractions. Located just 10 minutes from the corporate area of Asunción and 15 minutes from the old town, it allows its residents to be close to the key points of the city. In addition, its connection to cities such as Mariano Roque Alonso and Luque, through modern expressways, facilitates quick and efficient access. This strategic location, in an area of great growth, reinforces the value of the project and positions it as one of the best residential options in the area. In terms of financing, Sunset Village stands out for its flexibility. Lots start at $49,000, while homes start at $65,000, considering only the cost of construction. Self-financing options are offered with terms of up to 60 months, as well as financing through Itaú bank, which allows payments over a period of up to 10 years. Negotiations are carried out in a personalized manner, adapting to the specific needs of each client to guarantee a satisfactory experience. The project is already underway with the earth moving, and the groundbreaking is expected to take place in January. The completion of the works is projected within a period of 24 months from the start, with a focus on construction quality and compliance with established deadlines. Developed by Empire Group and Alamo Desarrollos, Sunset Village is backed by companies with extensive experience in the Paraguayan real estate market. This is the fourth development by Empire Group in Paraguay, known for the success of its Emerald line of buildings, which has achieved full sales in three previous projects. Nueva Asunción is booming as one of the fastest growing urban areas in Paraguay. This gated community will not only contribute to the growth of the region, but will also set a new standard of living for those seeking a safe, comfortable and modern environment. For more information about Sunset Village, please call +595 0981 130140.

ULTRA Real Estate, with two months into the Paraguayan market, has already positioned itself as one of the most innovative and promising emerging real estate companies in the country. Founded by Jorge Giralt and Gustavo De Simone, the company reflects the vast experience of its partners, who have been standing out in the sector for years. Both co-founders decided to take a step towards independence and create a real estate company that integrates training, professionalism and a long-term vision. For his part, Jorge Giralt has a diverse career in multinational enterprises and in the financial sector before dedicating to the real estate field. His role as general manager in a global real estate company brought him closer to the sector, and later, after his time at a recognized franchise, he consolidated his presence in the market. Throughout his career, he has seen how the interest in real estate has grown, and with the opening of ULTRA Real Estate, he seeks to capitalize on his knowledge to lead the Paraguayan market. Gustavo De Simone began his career as a lawyer specializing in oil contracts and trusts. After several years in the legal field, his interest changed and he found an opportunity in the real estate sector in Argentina, where he joined a well-known franchise. For more than a decade, De Simone remained in the top sales rankings and gained prestige both nationally and internationally. Eventually, he decided to go independent and form his own team, and has experienced his best years in terms of growth and turnover since making that decision. The creation of ULTRA Real Estate was the result of a friendship of more than twelve years between Giralt and De Simone. They met at real estate conventions in Las Vegas, and over time, they decided to merge their experiences and knowledge to create an independent real estate company. De Simone had been traveling to Paraguay for other projects and the idea of starting a joint venture arose naturally. They both shared the vision of forming a company that would not only stand out in the market, but also offer a superior level of service and professionalism. ULTRA Real Estate stands out in the industry by having a comprehensive support structure. The company has a legal and notary team, marketing services and professional photographers, ensuring that each property listed is legally ready and has the best presentation. From drones and photography equipment to social media campaigns, ULTRA Real Estate advisors have access to all the necessary tools to carry out their work efficiently and professionally. For ULTRA Real Estate, it is not enough to simply show properties. The company is dedicated to training its advisors in the entire sales cycle, from client acquisition to final negotiation. De Simone and Giralt believe that success in the real estate sector requires constant dedication and the ability to build long-term relationships with clients. This is the philosophy they try to instill in their advisors, who are trained to be leaders and entrepreneurs rather than mere property sellers. In addition, ULTRA Real Estate offers ongoing training, inviting local and international professionals to teach workshops that strengthen the skills of its advisors. In this way, they ensure that all members of their team can adapt to the demands of a constantly changing market. ULTRA Real Estate understands that in such a competitive market, innovation is essential. The company has a dedicated marketing department, which is responsible for maintaining a strong social media presence and employing cutting-edge technology for the promotion of properties. With a focus on digitalization and the use of online platforms, Ultra Real Estate remains at the forefront of technological trends in the real estate market. ULTRA Real Estate has a clear vision for growth. Although the company is in its early stages, the founders are already considering expansion options in Paraguay and other countries. However, their priority is to strengthen the current office, building a solid foundation before opening new locations. In the future, they are evaluating the possibility of establishing franchises in other major cities in Paraguay, such as Encarnación and Ciudad del Este, and have received proposals to expand into Chile. Unlike other franchise models, Giralt and De Simone prefer to partner with entrepreneurs who share their vision, rather than selling a franchise and risking losing control over the quality of service. Their goal is to ensure that ULTRA Real Estate maintains its high standards and reputation in every location where it operates. The founders of ULTRA Real Estate anticipate several trends in the real estate market over the next five years. Growth in residential buildings and gated communities, driven by foreign investment and Paraguay's economic stability, is one of them. They also foresee an expansion in the rental sector due to the housing shortage and the development of luxury properties in areas such as Asunción, Luque and Encarnación. In addition, the rise of rural properties for agricultural production remains a strong trend, due to the role of agriculture as an economic driver. The digitalization of the real estate market and the improvement of the country's infrastructure are also factors that, according to the founders, will boost the growth of the sector. ULTRA Real Estate, with its focus on excellence and the development of long-lasting relationships, positions itself as a real estate agency that seeks not only to satisfy its clients, but also to transform the Paraguayan market with professionalism and a vision for the future. Those interested in learning more about their services or in searching for a property should contact them at +595 986 918240 , where their team will be happy to provide the best real estate advice.

On August 8, Mediterránea Paraguay and Icon Houzze celebrated the groundbreaking of their second major project, called "Mallorca." This event, which took place in the Jara neighborhood, was attended by approximately 55 people, including suppliers, colleagues, family, friends and investors. Among the investors, there was an interesting diversity, with participants from Spain, Argentina, Bolivia, Chile and, of course, Paraguay. This launch represents the company's second development in Asunción, after the success of its first project, "Marsella," located in the Las Mercedes neighborhood. One of the distinctive features of Mediterránea Paraguay is its meticulous selection of lots for its developments, always prioritizing a strategic location. The "Mallorca" project is located on Avenida Brasilia, just 60 meters from the Universidad Americana, in the heart of Barrio Jara. This location not only guarantees excellent connectivity, but is also located in one of the most dynamic areas of the city, ideal for a young public, both university and corporate. Barrio Jara is a neighborhood that combines the best of both worlds: a vibrant university life, with more than 12,000 students attending the Universidad Americana in three shifts, and a strong corporate component, with companies such as Grupo Inverto, Grupo Bancard, Banco Sudameris, Banco Itaú and various clinics, including Neolife. This environment makes Barrio Jara an attractive place not only for those looking for a home, but also for those who want to invest in a property with high profitability potential. The "Mallorca" building is distinguished by offering two types of apartments that adapt to the needs of its target audience. On the one hand, there are the studio apartments, which are divided into two versions: the Small Studio Apartment, measuring 26 square meters, and the Studio Apartment with balcony, measuring 33 square meters. These units are designed to be functional and accessible, with prices starting at $42,000, making them a competitive option in the market. On the other hand, there are the one-bedroom units, which occupy the front facade of the building and have a surface area of 51 square meters. These units, ideal for young professionals or couples, are priced from $64,000. This variety of options allows buyers to choose the apartment that best fits their needs and budget. Mediterránea Paraguay has conducted an exhaustive study of the area, analyzing eight competing products located within a radius of less than 800 meters, to provide "Mallorca" with unique characteristics. Focused on a young segment, they have designed amenities that are not common in other developments in the area, and have implemented rigorous security measures to provide peace of mind to their residents. One of the most notable aspects of the "Mallorca" project is the wide range of amenities designed to improve the quality of life of its residents. Towards the main façade of the building on the roof, there is a heated barbecue area and a co-working area, ideal spaces for social or work meetings in a comfortable and modern environment. The building also has a fully equipped laundry room, which includes washing machines and dryers, allowing residents to supply themselves without having to leave the building. On the other rooftop façade, the building offers a swimming pool, a firepit area and a deck that are complemented by a large solarium and an expansion area on the terrace. These spaces have been designed not only for enjoyment, but also to foster an active and healthy community among residents. Security is another fundamental pillar in the design of "Mallorca." The building has three levels of access control. The first filter is located at the entrance on the street; the second, in a first reception area; and the third, in the vertical circulation of the building, where residents must have a PIN or authorization from the doorman to access the common areas and their apartments. This attention to detail in security demonstrates Mediterránea Paraguay's commitment to the protection and privacy of its clients. Mediterránea Paraguay is a young and dynamic company, founded by four Argentine entrepreneurs who decided to bring their experience in real estate development to Paraguay. Each of the partners comes from different parts of Argentina, including Santa Fe, Córdoba and Salta, and all have a solid track record in the real estate sector in their respective home cities. Since its arrival in Paraguay, Mediterránea has demonstrated its ability to identify opportunities and execute high-quality projects. Its first development, "Marsella", located in the Las Mercedes neighborhood, has been a resounding success, with 90% of its units already sold and a delivery date scheduled for December of this year. "Marsella" shares many characteristics with "Mallorca", including the typologies of studio apartments and one-bedroom units, but it also offers two-bedroom apartments, an attractive option for small families or investors looking for larger properties. The success of "Marsella" is largely due to its strategic location and the quality of the product. Located at the highest point of Las Mercedes, the building is surrounded by some 75 commercial premises, making it an epicentre of activity in the area. In addition, like "Mallorca", "Marsella" offers amenities and security measures that add value to the investment. The success of Mediterránea Paraguay would not be possible without the support of Icon Houzze, the partner in charge of the design and construction of its projects. Icon Houzze is a comprehensive architectural studio that was formally established in 2017. Its main partners, Estefanía Pellar and Nicolás Giudici, both architects, have managed to consolidate the company, with more than 25,000 square meters built and designed since its founding. Icon Houzze specializes in high-rise developments and mid-scale housing, offering a comprehensive service that covers everything from design and construction to the equipment and interior decoration of the units. Its ability to manage projects efficiently has allowed "Marsella", Mediterránea Paraguay's first development, to be completed in a record time of 16 months, two months ahead of schedule. Mediterránea Paraguay offers flexible financing options for those wishing to purchase a unit in "Mallorca." Interested parties can opt for a 40% down payment and finance the balance in up to 18 installments in dollars. In the case of "Marsella," which is about to be delivered, there are only two units available, which can be purchased with a 40% down payment and the balance in six installments, with delivery scheduled for December. Mediterránea Paraguay, in collaboration with Icon Houzze, continues to make a difference in the real estate market in Asunción. With projects such as "Mallorca" and "Marsella", the company has demonstrated its ability to identify strategic locations, design attractive products for a young segment and execute high-quality projects in short timeframes. With a focus on innovation, security and comprehensive service, Mediterránea Paraguay is positioned as a key player in the development of the city, offering housing solutions that respond to the needs of the local and foreign market. For more information about the Mallorca building, you can contact Mediterránea Paraguay at +595 971553055.

Last September 11th, at Talleryand Costanera, an event took place that will mark a before and after in the real estate scene in Asunción: the official launch of the Palmanova Pacheco. This project, developed by the renowned Palmanova Group of Katuete SRL, is presented as a masterpiece of contemporary architecture, which fuses the traditional essence of the Recoleta neighborhood with modernity and the most avant-garde luxury. Palmanova Pacheco stands as an icon of urban transformation, with a disruptive design that breaks with convention to offer a unique living experience. This building is not just a structure; it is a symbol of a new Asunción, where elegance meets functionality, and luxury meets accessibility. From its exclusive amenities, which include a celestial observatory for astronomy lovers, to its interiors with high-end finishes, every aspect of Palmanova Pacheco has been carefully designed to redefine the concept of luxury living. Strategically located on Pacheco Street, on the corner with Teniente Zotti, Palmanova Pacheco is in the heart of Recoleta, one of the most sought-after areas of the city. This neighborhood, often confused with Villamorra due to the proximity of the Villamorra Shopping Center, has become a nerve center of the capital. Just five blocks from the Mariscal Shopping Center, the building is perfectly located to offer its residents a comfortable and connected urban life, with easy access to shopping centers, restaurants and other services. Palmanova Pacheco has been designed to meet the needs of a diverse public, from young couples who are purchasing their first apartment, to families looking for a spacious and comfortable home. The apartments, ranging from 55 to 150 square meters, come in three types: 1 bedroom, 2 bedrooms and 3 bedrooms, all with spacious and carefully distributed spaces. The 2 and 3 bedroom units, in particular, stand out for their secondary bedrooms that are large enough to accommodate two beds. The building will have two entire floors dedicated exclusively to top-level amenities. On the fourth floor, there will be a 276 m2 gym, equipped with gendered changing rooms and a sauna, along with a 120-meter running track for those who enjoy jogging at altitude. In addition, a coworking space, a kids room for the little ones and three office rooms will be included for those who need a quiet space to work. The terrace, meanwhile, will be an oasis of relaxation with an infinity pool offering panoramic views of the city, a large deck for sunbathing, a fun space with a pool table, two heated barbecue areas ideal for social gatherings, a green garden to relax surrounded by nature, and a starlight corner equipped with a telescope for stargazing. The development, construction, administration and marketing of Palmanova Pacheco are the responsibility of Katuete SRL, a company founded in 1998 that has evolved under the leadership of Adrián Soria, current General Manager and partner of the firm. With more than 35 years of experience in the sector, Katuete SRL has migrated from horizontal to vertical real estate development, positioning itself as a benchmark in the construction of high-rise buildings in Asunción. Palmanova Las Mercedes, the firm's first building, was a resounding success, and now, with the launch of Palmanova Pacheco, the company consolidates its position in the market with its third building and second project in the Recoleta area. One of the highlights of Palmanova Pacheco is its architectural design, led by Jasper Architects, an international firm with offices in Buenos Aires, Berlin and Asunción. Founded by Martin Jasper in 2008, Jasper Architects is renowned for its innovative and disruptive approach to architecture, using meticulous research into site conditions, social and urban history, and programmatic and functional objectives to arrive at design solutions that propose new interpretations of the context. With over 428,000 m2 projected and 167,000 m2 built, the firm has left its mark on the international architectural scene, and Palmanova Pacheco is a clear example of its ability to innovate. The building, with its structure of three superimposed blocks and green terraces, is not only aesthetically impressive, but is also sustainable, with an extensive implementation of vertical gardens and green spaces that fill the urban environment with life. In addition, the use of alucobond, a reflective material, allows the building to change colour depending on the time of day, making it a visual landmark in the city. In a real estate market where there is a wide range of options, identifying the right product is crucial to ensure a good investment. Palmanova Pacheco is positioned as a safe option thanks to its high construction quality and focus on durability. In addition, the project has a unique guarantee policy on the market, which guarantees 100% of the money invested in a unit, providing peace of mind to buyers. With a launch price of $1,500 per square metre, Palmanova Pacheco offers excellent value for money in a prime location. Prices will be adjusted by 10% every six months until completion of the project, scheduled for May 2027, with construction scheduled to begin in November this year. This launch represents a unique opportunity for those looking to invest in an innovative, high-quality project in one of the most strategic areas of the city. The launch of the Palmanova Pacheco Building not only marks a milestone in the evolution of architecture in Asunción, but also represents a unique opportunity to live in a space that combines tradition and modernity, luxury and accessibility, in the heart of Recoleta. With its innovative design, top-level amenities and strategic location, Palmanova Pacheco is destined to become an icon of the city, redefining what it means to live in luxury in the 21st century. For more information about the Palmanova Pacheco Building and all the opportunities it offers, you can contact PALMANOVA at +595 983 196927 or send an email to Info@edificiopalmanova.com .

On August 30, 2024, the General Directorate of Public Registries (DGRP) issued a key provision, Technical Registry Provision No. 06/2024, which marks a milestone in the protection of the rights of real estate buyers and developers in Paraguay. This provision enables a “Special Registry of Annotation of Purchase and Sale Tickets of Units” subject to the Horizontal Property regime, which will be dependent on the Horizontal Property Section of the General Property Registry. This new registry is specifically designed to record the purchase and sale agreements for units built, under construction, or future functional or complementary units, providing increased legal security for both buyers and owners and developers. This regulatory effort is based on Law No. 677/60, which regulates ownership by floors and apartments, as well as its Regulatory Decree No. 2216/68. The enabling of this registry is based on various national regulations, starting with Law No. 677/60 “On ownership by floors and apartments”, which regulates horizontal property in Paraguay. This law is complemented by Regulatory Decree No. 2216/68, which establishes the procedures and requirements for the registration and management of properties under this regime. In addition, the Technical Registry Provision takes into account Agreement No. 1033/2015, approved by the Supreme Court of Justice, which establishes the General Technical Registry Regulation of the DGRP. Previously, regulations had already been established for the registration of sales contracts in subdivisions through Technical Registry Provision No. 7/2023, which was based on Law No. 3966/2010 and its amendments. However, the regulations applicable to sales contracts for units under the horizontal property regime required a more specific extension and regulation, which has been satisfied with this new provision. Pursuant to Law No. 677/60, the sales contracts that are registered in this new registry must comply with a series of requirements detailed in the regulations. These requirements include: the complete identification of the contracting parties, the detailed description of the unit, the surface area, the sale price, the form of payment, the liens affecting the property, the conditions for the delivery of possession, and the conditions for the granting of the deed of transfer of ownership. This level of detail guarantees greater legal security for both buyers and developers. A key part of this process is that registrations must be made exclusively by a public notary, which ensures legality and transparency in transactions. Once the bill of sale is filed with the Registry, the registration process can take approximately 20 to 30 business days, depending on the workload and other factors related to document review. This processing time offers an appropriate balance so that the parties can comply with all legal requirements and avoid future complications. The main objective of this registry is to provide a higher level of legal protection to buyers of units in horizontal property, who will be able to have the assurance that their purchase and sale agreements are duly recorded and protected against possible legal or financial conflicts. This system will also facilitate access to financing for real estate developers, by providing a clear and reliable regulatory framework that encourages continued investment in the sector. One of the most important aspects of this provision is that, once the purchase agreement has been registered in the new registry, the owner of the property will not be able to transfer or encumber the property without the express consent of at least 75% of the buyers. This is especially important in cases where the property is subject to sale in installments or when the developer needs to finance the construction through mortgages on parts of the project that have not yet been transferred. Buyers will also have the right to demand the deed of transfer of ownership of the units acquired, even if the seller is in a situation of bankruptcy or civil insolvency. The provision provides exceptions in specific cases, such as prior embargoes or fiscal, municipal, or service-related or contribution liens on the property. This mechanism is seen as an important step forward, as it reinforces buyers' confidence that their rights will be protected in the event of any eventuality affecting the developer or the original owner of the property. In addition, this new registry will be a key tool to avoid situations of fraud or legal conflicts related to the property and the rights of buyers. Technical Registry Provision No. 06/2024 establishes that for the correct registration of sales tickets in the new registry, they must comply with a series of formal requirements, which include: Complete identification of the contracting parties : Names, surnames, nationality, identity document number, marital status, and address of the contracting parties. Detailed description of the property and the unit : Both the general identification of the property and the specific description of the unit must be specified, including its surface area and floor number within the building. Sales price and payment method : The ticket must include the agreed sales price and the payment terms, whether in cash, in installments, or under some other financial arrangement agreed between the parties. Liens on the property : It is mandatory to specify any liens on the property, accompanied by the corresponding official reports. Conditions of possession and deed : The document must detail the conditions under which possession of the property will be delivered and the circumstances under which the final deed will be granted. These requirements ensure strict control over the purchase and sale of units in condominiums, avoiding any ambiguity in contracts and protecting both buyers and sellers. The real estate sector in Paraguay has experienced significant growth in recent years, driven by the demand for housing and commercial developments under the horizontal property regime. The creation of this new registry will allow real estate projects to continue expanding in an orderly and safe manner, providing guarantees to investors and promoting transparency in real estate transactions. This provision seeks to encourage investment in apartment and flat building projects, providing buyers with greater security over their property rights. This, in turn, will encourage the continued development of real estate projects and help consolidate Paraguay as an attractive destination for both local and international investors. The General Directorate of Public Registries has begun the implementation of this provision, notifying all real estate registry offices in the country, as well as other entities involved in the process, such as the College of Notaries and Lawyers of Paraguay. Likewise, the provision will be published on the institutional intranet of the DGRP and will be submitted ad referendum to the Superintendence Council of the Supreme Court of Justice for final ratification. With this measure, Paraguay takes another step towards the modernization of its registry system and the consolidation of a safe and transparent real estate market. The implementation of the Special Registry of Notes on Purchase and Sale Agreements for Horizontal Property Units represents an important guarantee for the real estate sector and a sign of the country's commitment to economic growth and orderly urban development.

Yesterday, in an event full of expectation, the groundbreaking ceremony of the Petra Imperiale building was held, a project that promises to redefine the skyline of Asunción and consolidate its position as one of the most vibrant and modern cities in South America. This ambitious real estate development will stand as one of the tallest towers in the region, taking our capital to a prominent place on the architectural map of the continent. Petra Imperiale , just two months after its launch, has already established itself as a resounding success in the market, with more than 75% of its units sold. This impressive achievement reflects not only the magnitude of the project, but also the great moment that the Real Estate sector in Paraguay is going through, a sector that is in full expansion and that finds in Petra Imperiale an emblem of its growth and potential. The project will feature a 73-story residential tower, which will become a benchmark for luxury and exclusivity in the region. It will also include a state-of-the-art corporate building, offering innovative and sustainable workspaces that will meet the needs of the most demanding companies. Petra Imperiale 's gastronomic offering will be no less spectacular, with restaurants offering the best of Italian cuisine, creating a top-level culinary destination in the heart of Asunción. Finally, a luxurious hotel operated under the prestigious NH Collection brand will complete the development, offering a five-star service that will attract both tourists and business travelers. The investment in Petra Imperiale exceeds 70 million dollars, a capital backed by Banco Sudameris, which not only finances the project, but also accompanies it at every stage, guaranteeing its viability and success. The work is under the direction of Cronos, a Paraguayan firm known for its rigorous approach to compliance with the highest quality standards. Cronos will be in charge of both the project and the supervision, ensuring that every detail of the construction meets the most demanding expectations. Concrete will be supplied by CECON, a leading company in the production and supply of cement and concrete in Paraguay. The choice of CECON as a supplier ensures that Petra Imperiale is built with the highest quality materials, resulting in a robust and long-lasting structure. The groundbreaking event brought together workers, contractors and construction collaborators who will embark on this monumental challenge. It is estimated that Petra Imperiale will be a source of employment for more than 1,000 families throughout the construction process, injecting millions of guaraníes into the national economy and generating a significant amount of taxes for the city of Asunción. Delivery of the units is scheduled to begin in December 2029, a deadline that, according to Francisco Soldani, Commercial Manager of Petra Urbana, will not only be a milestone in the development of the project, but also a crucial moment for Paraguay. "This project places Paraguay in the big leagues of real estate development. Petra Imperiale will be the fourth tallest tower in South America, a true icon for Asunción, which reaffirms our ability to compete on the global stage," said Soldani. Of the 416 units available, nearly 320 have already been purchased, reflecting the high demand and interest that the project has generated. Prices for the units start at $78,000, and there is still availability in all categories, from studios to one-, two- and three-bedroom apartments. The construction of Petra Imperiale will be carried out in an unprecedented collaboration between AGB and Tecinci, two of the most renowned construction companies in the country. This alliance guarantees the highest quality and efficiency in the execution of the project, thanks to the experience and strength of both firms, which have demonstrated their ability to handle large-scale projects in the past. Founded 46 years ago by engineer Alberto Gross Brown, AGB has been a pioneer in construction in Paraguay. With nearly 290 permanent employees and around 3,000 subcontractors, AGB is distinguished by its triple ISO certification in Environmental Care, Quality, and Occupational Health and Safety. These pillars are fundamental in its approach to construction, ensuring that each project not only meets the highest quality standards, but also respects the environment and the safety of all involved. For its part, Tecinci, with 36 years of experience in the private sector, has been a leading company in the construction of skyscrapers and other large-scale projects in Asunción. It was the first construction company in Paraguay to obtain ISO 9000 certification, and its commitment to quality and safety at work is evident in every project they execute. Tecinci places a strong emphasis on teamwork and creating a work environment where employees can develop and stay long-term. Petra Imperiale promises to be not only an architectural icon, but also an economic engine for Asunción, contributing to urban development and raising the profile of the city on the regional and international stage. For more details about Petra Imperiale , interested parties can call +595 0984 400 800 or write to contacto@petraurbana.com .

In an effort to improve efficiency and security in property management in Paraguay, the Executive Branch and the Judiciary presented this Monday the draft Law of the Unified National Registry, an initiative that seeks to merge and centralize the functions of three key institutions in charge of procedures related to land ownership and real estate registries. This new body, which will be under the jurisdiction of the Supreme Court of Justice, promises to streamline procedures, reduce waiting times and strengthen legal security in real estate transactions throughout the country. The National Unified Registry is established as a technical and administrative body of the Judiciary, with the responsibility of supervising the national cadastre and the public registries related to the assets, acts and rights that must be registered in accordance with the law. The creation of this unified registry represents an absorption, modification and expansion of the functions previously performed by three entities: the General Directorate of Public Registries (DGRP), the General Directorate of the National Cadastre Service (SNC) and the Department of Surveying and Geodesy. One of the main innovations of the bill is the creation of a truly unique cadastral-registration procedure. This procedure aims to reduce bureaucracy for citizens and increase coordination between the main institutions responsible for the real estate reality in the country. The unique cadastral-registration procedure seeks, on the one hand, the registration of data that provide a comprehensive physical, economic and legal description of the properties in the national territory, and on the other, the publicity of the various registered acts or rights so that they are enforceable and produce effects against third parties, or in cases where the law so provides, the perfection of the corresponding right. This procedure is made up of a set of formalities that are carried out before and by the National Unified Registry, from the presentation of an application for registration, annotation or registry publicity, accompanied by the respective document, to its registration, annotation, denial of registration or annotation, or the completion of the relevant registry publicity application. The bill stresses that this unification will help to avoid common problems such as overlapping property titles, a phenomenon that has caused legal conflicts and delays in the past. In addition, the centralization of these functions under a single entity is expected to speed up procedures and significantly reduce the time required to regularize land ownership. Competencies and Structure of the New Registry The National Unified Registry will be exclusively responsible for the formation and maintenance of the cadastre and registry of real estate in Paraguay, as well as the preparation and management of the national cadastral cartography. This includes the dissemination of cadastral and real estate registry information, a crucial task to ensure the transparency and accessibility of property data. Within this new structure, the General Directorate of Cadastre and Real Estate Registry will be created, which will include at least two key departments: the Directorate of Real Estate Registry and the Directorate of Cadastre. The Directorate of Cadastre will be responsible for managing and administering the procedures related to cadastral registration, guaranteeing the ordering of the national cadastre and providing accurate and certified information on the parcel status of real estate. This directorate will operate with a margin of autonomy and functional independence, particularly in the management of technical data and cadastral information. On the other hand, the Real Estate Registry Office will manage and administer the procedures related to the registration of acts, assets and rights with a vocation for registration, in accordance with this law, the Code of Judicial Organization, and its complementary laws. This function is essential to ensure the publicity and legal enforceability of rights against third parties. Technological Innovation: The Unique Cadastral Registry Identification Code One of the most notable innovations of the bill is the implementation of a unique coding system to identify each property through a Unique Cadastral Registry Identification Code (CUICR). This code, which will be alphanumeric, will allow for the precise individualization of properties, compactly representing crucial information about the location of the property by municipality, district, neighborhood, block and lot. The CUICR will become a mandatory physical and legal identification mechanism for all properties, and must be recorded by administrative and judicial authorities in all procedures related to the property. This measure will not only simplify procedures, but will also strengthen legal security by reducing the possibility of errors or fraud in the identification and registration of properties. The certification that the National Unified Registry will administer with respect to real estate will be both registry and cadastral, and will be issued in a single document. This means that the real estate folio of each property will necessarily include the CUICR, and the registry entries will contain the expression of the circumstances related to the subject, object and content of the registrable rights as they result from the title and the registry entries, after documentary qualification by the registrar. Horizontal Property and New Standards for Building Plans The bill also addresses the identification of units in horizontal properties, such as flats and apartments, which must be adequately reflected in the CUICR. Building plans must comply with the standards established by the competent authority, and their presentation will be a requirement for incorporation into the horizontal property regime. These measures seek to ensure adequate regulation and registration of housing units in buildings, which will contribute to clarity and order in urban real estate ownership. Adjustment and Adaptation of Registrations Owners of property or other property rights may request the adjustment of their registrations in accordance with the parameters established by law to obtain the CUICR. The procedure will be supervised by the Supreme Court of Justice, and in cases where there are no discrepancies with the current cadastral records, the adjustment will be carried out without further formalities. However, if overlapping properties or discrepancies with the cadastre are detected, specific measures will be taken to rectify the situation, including publicizing the overlaps and, if necessary, denying the requested adjustment. Data and Public Policy Center The information collected from the land and recorded in the cadastre will be integrated into a data centre that will operate as a relational database, allowing access to key information for the analysis of relevant variables and the determination of the value of the properties. This database will serve as a basis for the formulation and implementation of various economic and social policies, and will be available to national authorities that require it. The bill also includes the digitalisation and automation of as many procedures as possible relating to land ownership. Gustavo Villate, Minister of Information and Communication Technologies, stressed that "with the use of technology, it is expected that these deadlines can even be shortened," which will benefit both citizens and institutions. Reactions and Perspectives The President of the Republic, Santiago Peña, used his social networks to underline the objectives of the bill, highlighting that "this initiative seeks to improve security in the purchase of real estate, avoid overlapping titles, reduce registration and cadastre deadlines, and increase efficiency, transparency and accessibility through the use of technology." The legal advisor to the Presidency, Roberto Moreno, emphasized that the merger of these institutions, which currently operate separately in different branches of government, is part of a broader effort to streamline and modernize public administration in Paraguay. "This unification will allow the process of registering property to be more coherent, faster and safer, which in turn will foster confidence in the country's legal and economic system," Moreno explained. For his part, the Minister of the Supreme Court of Justice, Alberto Martínez Simón, stressed that the implementation of this law will represent a significant advance in the streamlining of the registration processes, in addition to offering greater legal security with regard to private property. "With this draft law, once approved and put into effect, we will make the process much simpler, which will significantly speed up the registration processes, while guaranteeing the legal security of land and private property," said Martínez Simón. The potential impact of this law was also highlighted by the jurist María Mercedes Buongermini, who collaborated in the drafting of the project. Buongermini explained that "today, property registration processes can last several months, due to the nominal deadlines of each institution. With the proposed unification, the aim is for the entire process to be completed in approximately 45 days." This reduction in time, combined with the implementation of a single window, will allow for greater efficiency in the management of procedures, facilitating citizens' access to registration and cadastre services. Finally, Gustavo Villate, Minister of Information and Communication Technologies, highlighted the efforts underway to digitize and automate procedures related to land ownership. Villate said that "we are already working on the digitization and automation of as many procedures as possible, which will allow us to further shorten the timeframes and offer a more accessible and transparent service to citizens." With this bill, the Paraguayan government seeks not only to modernize the property management system, but also to lay the foundations for a more efficient, integrated and citizen-oriented public administration. The implementation of this law is expected to have a positive impact on the country's economic development, by providing a safer and more reliable environment for real estate transactions, and by encouraging greater investment in the real estate sector.

Last Wednesday, August 14, Palmanova organized the long-awaited Investors' Toast, an event dedicated to thanking its clients and investors for the trust placed in its projects. The celebration took place in the company's showroom, located in front of the imposing Palmanova Las Mercedes building, on Avda. Gral Santos almost Avda. España, an environment that highlighted the company's commitment to innovation and transparency in the real estate sector. During the evening, attendees witnessed the impressive construction milestones achieved by Palmanova. In just 18 months, the construction of 20 slabs was completed at Palmanova Las Mercedes, while at Palmanova Villa Morra 5 slabs were achieved in a period of 6 months. These advances underline the compliance with the established schedule and reinforce the confidence of investors in the company's ability to materialize its promises. One of the most notable announcements of the evening was the upcoming bond issue in collaboration with ASU Capital. This initiative will offer investors a unique opportunity to diversify their portfolios and obtain attractive returns, backed by the strength of Katuete SRL, a company with 25 years of experience in the market. The bond issue is emerging as an accessible financial alternative for those wishing to participate in the booming real estate market in Asunción. The General Manager of Katuete SRL highlighted the positive impact that this issue will have on the real estate market, attracting the attention of foreign investors and reinforcing the company's financial transparency. He stressed that the triple B rating obtained, the result of hard work and dedication, is an indication of the company's solidity and credibility. In addition, he emphasized that the bonds will allow young and new investors to access investment opportunities from affordable amounts, thus democratizing access to the real estate market. The highlight of the event was the exclusive announcement of Palmanova III, the company’s ambitious new development. Investors in attendance were impressed by the scale and potential of the project, which will be officially launched on 11 September at Talleyrand Costanera. Palmanova III, scheduled for completion in 2027, is expected to attract a select audience of investors, consolidating Palmanova as a leader in real estate development in the city. The event served not only to celebrate the achievements, but also to reaffirm Palmanova and Katuete SRL's commitment to transparency and innovation in the sector. Attendees had the opportunity to see first-hand the progress of the works, as well as to interact with the management team, who extended an open invitation to all those interested in learning more about current and future projects. The company reiterates its willingness to welcome potential investors to its showroom, where they will be able to explore the models of the units under construction and receive detailed information on upcoming investment opportunities. Katuete, with its 25 years of experience, is consolidating its position as a benchmark in construction and real estate development, and with the launch of new financial products, the company is looking to the future with ambitious projects in mind. For more information on current projects, future bond issues, or to schedule the launch of the new project, interested parties can contact the Palmanova sales team at +595 983 196 927 .

Last Sunday, August 11, Paraguay witnessed an unprecedented event that marks a before and after in the history of urban development in the country. The newly rebranded developer Solaria City Makers , formerly known as Terminal Occidental SA (TOSA), made its official debut with the presentation of its ambitious real estate project El Delta . This project not only represents a new milestone in the history of Nueva Asunción, but also redefines the concept of urban living in Paraguay. After more than 15 years of success in the market, TOSA has evolved into Solaria City Makers, taking on an even more ambitious mission: not just building structures, but creating communities and cities that transform everyday life into an extraordinary experience. To celebrate this important launch, Solaria City Makers organized an exclusive City Tour for investors, directors of the holding company, media representatives and clients. Attendees explored El Delta, an urban complex designed to blend in with nature and offer an unprecedented quality of life. During the tour, the meticulous planning and innovative vision that have guided the development of this project for more than a decade were highlighted. The Delta, strategically located between the Remanso Bridge and the Héroes del Chaco Bridge, south of the Transchaco Route, is much more than a place to live. It is an environment that promises to become a reference point for the entire region, combining modernity and nature in perfect harmony. El Delta extends over 1,600 hectares and has been carefully designed by the international architecture firm BMA, in collaboration with Solaria City Makers. This real estate development is a symbol of innovation and progress, destined to leave a lasting mark on Paraguay. One of the highlights of El Delta is its impressive network of water bodies, which includes 6 kilometers of coastline on the Paraguay River, 23 kilometers of navigable canal and 16 kilometers of lagoons. This aquatic design not only provides incomparable aesthetic value, but also facilitates a unique connection with the surrounding nature, making every day an extraordinary experience. One of the jewels of this project is La Isla Del Delta , a unique development in Paraguay consisting of an island located on the majestic Paraguay River. This was the first real estate development in the complex and, as its name suggests, it is an island connected to the rest of the complex by a bridge, which gives it exclusive access and an atmosphere of incomparable privacy. La Isla Del Delta has a total of 66 lots, each with an average area of 2,000 square meters, which guarantees ample spaces and a privileged natural environment. Within El Delta, another development that has captured attention is Riverside, a prominent residential complex of five blocks of medium-density buildings limited to eight stories to maintain a balance between exclusivity and connection to nature. The apartments, ranging in size from 238 to 350 square meters, offer expansive views of the Paraguay River and the golf course. Construction will begin on the Safiro block later this year, which will feature 46 three- and four-bedroom apartments. The design was carried out by the Uruguayan studio of Martín Gómez Platero, with execution by architects Fabrizio Bibolini and Mauro Remonato. Barrio Norte is another development within El Delta that stands out for its innovative proposal. With 300 residential lots spread over 100 hectares, this neighborhood offers life in an impressive natural setting, with views of the golf course and the lagoons. It also has a clubhouse designed by Paraguayan architect Christian Gould, which includes top-level sports facilities, such as tennis courts, paddle tennis courts and a multi-sport court. An ambitious residential project called M5 will be developed in Barrio Norte . This complex will have six residential blocks, preserving the trees that are on the property. In the center of this green space, a pedestrian walkway will be built that will include an attractive gastronomic area with cafes and ice cream parlors. The first stage of M5 will offer 24 apartments and all will have exceptional views, highlighting the panoramic view of the golf course and the Remanso Bridge, providing an environment of tranquility and peace throughout the year. No less impressive is Barrio Náutico , a development that celebrates the passion for water and water sports. With 68 hectares and 200 lots in its first stage of commercialization, this neighborhood offers a unique lifestyle for those looking to be in constant contact with the water. In addition, the complex includes private marinas, designed to guarantee the safety and maintenance of boats, making El Delta a paradise for boating lovers. The Delta is not just a place to live, but a comprehensive environment that offers a wide range of services and amenities designed to improve the quality of life of its residents. Among these services is Las Palmas Street Mall , a shopping center that will feature a variety of food venues, supermarkets, pharmacies, hair salons and other essential businesses. This shopping center, which will be located on an area of 55,000 square meters, will also have a large parking lot for 460 vehicles, and will be designed to offer an unparalleled shopping and entertainment experience. In addition to residential options, El Delta is home to a Business Center with the Alkan , Navis , and upcoming Navis II corporate buildings. This space is designed to attract national and international companies, establishing itself as an important corporate center in the region. In addition, El Delta will host Paraguay's first Free Trade Zone for services , a corporate complex that will attract national and international companies thanks to its tax benefits. This development includes three office towers, whose construction will begin in the coming weeks, and promises to become an important business center in the region. On the other hand, the Marina del Delta Nautical Complex focuses on offering high-quality facilities for entertainment and boat safety. Each marina is self-regulating and flood-resistant, ensuring a safe and comfortable experience for residents and visitors. The project also includes Tarumá Golf , an 18-hole golf course designed by the prestigious architectural firm Stirling & Martin. Located in the heart of El Delta, this course will offer an unrivalled playing experience, surrounded by carefully preserved natural surroundings. The Delta, conceived by Solaria City Makers, represents a new paradigm in urban development in Paraguay. This project, which has been carefully planned and executed for more than a decade, offers a unique combination of modernity, nature and quality of life, becoming an example to follow for future developments in the country. With its launch, Solaria City Makers not only presents a new real estate project, but also reaffirms its commitment to leading the way towards a future in which urban life is harmoniously integrated with nature, providing its residents with a living experience where the everyday becomes truly extraordinary. For those interested in learning more about El Delta and the investment opportunities available, Solaria City Makers invites you to get in touch through its social networks or to communicate directly with its commercial advisors at +595 981 503 255 or by email at info@solaria.com.py . This is just the beginning of what promises to be a new era in urban development in Paraguay, led by a company that not only builds, but transforms and reimagines the future.

Alex Loza, director of Grupo Barcelona, whose career in Paraguay is marked by a deep commitment to both social development and innovation in the real estate sector. With a solid background in Business Administration and a specialization in taxation in Spain, Loza initially came to Paraguay as a volunteer, where his work in the educational field led him to become involved with the ALDA Foundation, dedicated to improving the quality of life and education of children and young people in disadvantaged communities. In search of ways to finance the foundation's projects, Loza decided to explore the real estate market at a time when Paraguay was beginning to stabilize macroeconomically. Thus, in 2007, the first project of the Barcelona Group was born, Edificio Barcelona in Villamorra, which marked the beginning of a series of successful developments that have transformed the urban landscape in Asunción and Encarnación. Today, with more than 500 apartments built and multiple completed projects, Grupo Barcelona is a benchmark in the sector, with business units that range from the development, construction and management of buildings to the hotel industry. Among its most notable projects are the Hotel Palmaroga and several iconic buildings in Asunción and Encarnación. In this interview, Alex Loza shares his vision on the evolution of the real estate market in Paraguay, the challenges he has faced along the way, and his focus on combining business success with a positive impact on the community. How has real estate development in Paraguay changed since you arrived until today? The change in real estate development in Paraguay has been really impressive. When I arrived, there were very few buildings in Asunción, and the idea of living in an apartment was relatively new to many. The buildings were mainly in the historic center, and the construction technology was quite rudimentary. I remember that, at first, I was surprised to see that they used wooden props in construction, something that had already become obsolete in Europe. However, in the last 12 or 13 years, we have witnessed a huge leap in construction technology. Today, it is unthinkable to build a building without a crane, but in our first project, we did it without that technology. Furthermore, the professionalization of the sector has been remarkable. Engineers, architects and other construction professionals have raised standards, which is reflected in the quality of buildings being built today. However, despite these advances, access to credit remains a significant challenge for both developers and end buyers. In the early years, it was almost impossible to obtain financing, and what little there was was extremely expensive. Although there have been improvements, it is still an area where much work is needed to facilitate access to housing and real estate development in general. What factors motivated you to invest in downtown Asunción, especially with iconic projects like the Hotel Palmaroga, in an area that other companies may have overlooked? The center of Asunción has a historical and cultural value that cannot be ignored. When we decided to invest in the city center, we knew that we were betting on an area that had been forgotten by many, but that had enormous potential. The history of the city center of Asunción is rich and deep. It is the place where the city began to develop, where the first great architectural works were carried out, and where much of the country's historical heritage is found. Our Hotel Palmaroga revitalization project is a clear example of what we believe can be achieved in the downtown area. By restoring this historic building, we are not only preserving an important part of the early 20th century architecture, but also demonstrating that it is possible to restore downtown Asunción to its former glory. We firmly believe that we all have a responsibility to contribute to making downtown the heart of the city again – not just a place where people work, but a vibrant area where the history of Asunción is lived, enjoyed and celebrated. Having participated in the restoration of heritage buildings such as the Hotel Palmaroga and the Palacio Ingrid , what do you consider to be the main challenges when restoring and revitalizing historic buildings in Paraguay? Restoring historic buildings in Paraguay presents several challenges, one of the most significant being the lack of incentives for investors. It is essential that there is collaboration between the public and private sectors to revitalize downtown Asunción and other historic sites. For example, when we decided to restore the Palmaroga Hotel, we were faced with the reality that there was no financial or tax support to facilitate this type of project. I believe that there should be incentives such as tax breaks for construction and for the rehabilitation of heritage buildings. If an investor is willing to put their money into a project that revitalizes a historic area, they should receive some kind of support, whether in the form of credit subsidies or tax exemptions. Furthermore, the revitalization of the center does not only depend on developers. It is essential that the area is well maintained, with clean streets, good lighting and security. These are basic conditions that must be guaranteed to attract both investors and residents. Sometimes it seems that these projects are complicated, but in reality, with good planning and the right support, it is much simpler than you think. What is the key to long-term success in real estate projects? The key to long-term success in real estate development lies in building relationships of trust. When a client trusts you, it is because you have proven to be reliable and professional at every stage of the project. This bond of trust is something that is earned over time, through honest, transparent and committed work. It is important for developers to understand that it is not just about selling a property, but about accompanying the client throughout the entire process, ensuring that their investment is well protected. Another key piece is the management of buildings once they are completed. Keeping a building in good condition over the years requires constant effort. It is not enough to build something beautiful; you also need to make sure it stays that way. The difference between a building that is still attractive and functional after 10 or 15 years, and one that deteriorates rapidly, is in the quality of management. This includes everything from maintaining the facilities to responding quickly and effectively to any incidents that may arise. It is a long-term commitment that many underestimate, but it is essential for the sustained success of any real estate development. What motivated you to expand beyond Asunción and develop projects such as Torres Bolik, Paraná Playa Apartments and Paraná Playa Costanera in Encarnación? Expanding into other cities like Encarnación was a strategic decision. As competition in Asunción and the metropolitan area increased, we saw the need to look for new opportunities in less saturated markets. Encarnación, in particular, caught our attention due to its growth and potential for real estate development. Although we faced challenges, such as the reluctance of the local population to live in apartments, we believe that the city has a great future. Encarnación is a city with many qualities: its waterfront, its tranquility and its proximity to Posadas make it an attractive place to live and invest. However, one of the biggest challenges is breaking the seasonality that limits economic activity to the summer months. If we manage to develop events and activities throughout the year, Encarnación could become a very interesting city to live in, not only for locals, but also for people from other parts of the country and abroad. The key is to diversify the offer and make the city attractive at any time of the year. What advice would you give to a foreigner who wants to invest in the real estate market in Paraguay? My advice to any foreigner considering investing in Paraguay's real estate market is to do so with caution and an open mind. While you may have a lot of experience in other countries, Paraguay is a unique market with its own particularities. It is essential to take the time to understand the local culture, rules and regulations, and market dynamics. Although we share the same language, the way of doing business here is different, and you need to adapt to be successful. I have seen many foreigners, especially Spaniards, who come with the idea that they will be able to replicate exactly what they have done in their home country, but quickly realize that they need to adjust their approach. Adapting to local customs, building relationships, and understanding the market from the inside is crucial. Additionally, it is important to work with trusted local partners who can guide you through the process and help you navigate the complexities of the Paraguayan real estate market. What would you say is one of the main lessons you learned while developing here in Paraguay? One of the main lessons I have learned is the importance of getting things right from the start and maintaining a service-oriented attitude to any eventuality. In any construction project, there will always be unforeseen events, but what really matters is how you respond to them. Being honest, working hard and willing to accompany the client throughout the entire process is crucial. Trust is a fundamental pillar in our business. Without trust, there is no long-term relationship. I have learned that it is essential to not only deliver what is promised, but also to exceed the client’s expectations, whenever possible. In addition, it is vital to have a focus on quality, not just in what is visible, but in all aspects of the building. These are the things that really matter in the long run, and which often go unnoticed when evaluating a building. Being part of CAPADEI (Paraguayan Chamber of Real Estate Developers) has also helped us stay aligned with the best practices in the sector. It is a seal of quality that guarantees that developers are committed to high standards at all stages of real estate development. Ensuring that all aspects of a project are carried out with the highest quality is what really sets a good developer apart.