IRSA launches $10M real estate project in Uruguay after 15 years
Argentine company IRSA, led by Eduardo Elsztain, begins a $10 million real estate project in Uruguay. This is the first development of the Argentine holding in the neighboring country, located along the shores of Lake Calcagno, facing Roosevelt Park, and minutes from Carrasco International Airport.
The project, called Distrito Calcagno, spans 230,000 m² and is divided into 14 mixed-use macro-lots. Over half of the lots have already been sold, with construction in various stages. Once completed, the district will have over 2,000 residential units, with prices ranging between $150,000 and $350,000.
Urban transformation in Ciudad de la Costa
The area of Ciudad de la Costa, located 30 minutes from Montevideo, has transformed from a summer resort to a real estate hub. Today, it houses over 91,000 people, making it the most populous municipality in the Canelones department. The proximity to Montevideo, along with green spaces and security, has driven demand for housing in the area.
The Uruguay Housing Promotion Regime has been key to the development, allowing reduced tax burdens and more affordable housing prices. IRSA is working with the Canelones Intendency to implement a public park of over 4,000 m² and commercial services in the district.
