MIAMI--(BUSINESS WIRE)--Political, social and economic stability made Uruguay a destination chosen by foreigners who are looking to establish themselves in Latin America. In the first quarter of 2019, Uruguay received a foreign investment of $360 million. Uruguay is opening its arms to foreign investors giving them benefits to live and invest, such as free-trade zones and the chance of not paying taxes in the country. Moreover, the prestigious Legatum Prosperity and Mercer indexes name Uruguay as the best country to live in the region. These indicators solidify the need for desirable residential real estate developments, such as Las Cárcavas.
“We chose to develop Las Cárcavas in Uruguay for different reasons. Among them, that we were offering a luxurious lifestyle in the middle of pure nature so the setting had to be a safe one. Uruguay is one of the three safest countries in Latin America,” said Gaston Marquevich, CEO of Optimum Capital Partners, developers of Las Cárcavas.
Las Cárcavas is located on the Rocha coast, in Garzon, minutes away from Jose Ignacio - known as the Saint Tropez of the south. Its name comes from the particular geography of the area, where the natural gullies are formed by nearby streams. It features 24 ranches and space for 16 bungalows distributed in over 21 acres that are within a biosphere reserve, declared by UNESCO. The development offers access to 820 feet of exclusive beach coast where the sea is warm, thanks to tropical currents that flow from Brazil. Luxury onsite amenities include a pool, a beach club facing a natural lake, a natural grass tennis court, a grill and a stove area.
Las Cárcavas was designed by the renowned Brazilian architect Isay Weinfeld and its parks were designed by the English designer John Brookes. Buildings are sustainable and made with local materials to support its focus on the local environment.
Key drivers for foreign investment include:
- Uruguay offers immediate residency with an investment of only $1 million. The new government is studying the possibility of making the rules even more flexible for foreigners.
- Uruguay offers a tax holiday for foreigners, wherein foreign residents are exempt of income tax payment for the first six years.
- The cost-benefit equation of purchasing land in Uruguay is one of the best in the world.
“Las Cárcavas offers buyers the unique opportunity to acquire a large extension of land at an affordable price. The cost of the land in Uruguay is way below the world average, and that allows us to offer very high-quality at a good price,” added Marquevich.
Las Cárcavas offers absolute comfort, including 24-hour services. It is specifically designed for those who are looking to disconnect in nature, while a few minutes away from the most international beach in Latin America.
About Las Cárcavas
Las Cárcavas is a luxury real estate development in the coast of Rocha, situated at the kilometer 204,5 of the route 10, in Garzón, Uruguay. It consists of 1273 acres divided into 24 ranches of 2.5 acres each and 16 bungalows 16000 square feet each. The cost of the ranches goes from $580,000 to $3 million. Each bungalow is valued at $1 million and are sold fully finished.
Optimum Capital Partners are the owners of the land and developers of Las Cárcavas. The whole project was designed by Isay Weinfeld.
For more information visit: www.LasCarcavas.com