Guyer & Regules Steers $140 Million Real Estate Project
January, 2009 - Montevideo, Uruguay
Uruguayan firm Guyer & Regules has advised Argentine venture capital firm Consultatio in a US$140 million real estate project in Punta del Este.
The Las Garzas project will see the 240-hectare area developed with 500 plots for luxury vacation villas close to the resort on Uruguay's Atlantic coast.
Guyer & Regules partner Nicolás Piaggio says, "Although there are some important real estate projects in Uruguay, I believe that the size and relevance of this real estate project in the tourist industry is second to none and as such would probably be a landmark for Uruguay's real estate projects in general and an example to follow."
One of the main legal tasks was to ensure that the project complied with Uruguay's new land development law, which regulates the size and design of real estate developments.
Piaggio explains, "Fortunately a requirement included in this law by which development plots cannot be built in some areas was ultimately amended by Congress. Otherwise the success of these types of project would have been endangered."
Consultatio is the controlled by Argentine millionaire Eduardo Constantini, whose previous real estate work has included the 1,600-hectare Nordelta project close to Argentina.
Counsel to Consultatio - Uruguay
GUYER & REGULES : Partners John Stuart Leaman, and Nicolás Piaggio and associates Anabela Aldaz, Federico Susena, Juan Carlos Plachicoff and Natalia Laprovítera.
Counsel to Consultatio - Argentina:
Cibils Robirosa Labougle & Ibañez: Partner Joaquin Ibañez
