After a 2022 marked by a succession of sales, the City Government is preparing to put up for auction the last six available plots of land for the future Innovation Park, a project that is advertised as the “Silicon Valley” to come and includes areas located where the former Buenos Aires Federal Tire operated before. The intention of Larretism is to place the remaining lots before Mayreason why the Buenos Aires ruling party hopes to start activating the corresponding auctions through Banco Ciudad already in the course of the next month.
as far as he could tell iProfessional from sources linked to entrepreneurship, the Innovation Park has already generated the City a collection of the order of 250 million dollars only in the concept of land sale.
Such an injection of greenbacks had its most recent sample during the end of December, when the real estate developer Ciudad N2 and Banco Industrial de Azul agreed to pay more than 24 million dollars for two pieces of land measuring more than 1,270 square meters each.
Until now, the sale of land has already reached more than 75 percent of the available area for the business. 23 lots were placed and the intention of the City Government is that this year investors begin to develop their respective projects on the property.
Meanwhile, in that space, infrastructure works are being promoted with different degrees of progress, such as sewers, opening of streets, squares, and electrical and fiber optic lines.
The recent 2022 closed with at least 13 auctioned plots and the perspective for this year is to try to raise at least another 60 million dollars from the commercialization of the lots still available.
The project is located on the lands where the Buenos Aires Federal Tire worked.
A particular feature of the sale of land is that the operations can be paid in pesos although based on the official dollar price. And that the agreed amounts can be covered through an advance and two subsequent payments under a quota system.
Who invests in the Innovation Park
Last October, and through his subsidiary Milamax SA, Gabriel Romero, one of the “repentant” in the cause of the notebooks – acknowledged having paid bribes to keep public works contracts during the government of Cristina Fernández -, disbursed 18.8 million dollars to keep one of the largest plots of land in the future Innovation Park.
The businessman beat IRSA in an auction organized by Banco Ciudad. The bid ended up raising the price of the lot by almost 12 percent from its initial value.
In another auction held in March 2022, Nicolás “Nicky” Caputo was surprised by the appearance as one of the businessmen who acquired land to participate in the real estate project.
Through its subsidiary GMRA SA, Mirgor’s retail division, the businessman acquired Plot 1 of Manzana 146D for 5.7 million dollars. The purchase was consigned by the Observatory of the Right to the City, which also provided details of the rest of the investors in that Buenos Aires area.
“The other property that was auctioned, also measuring just over 400 square meters, was left in the hands of El Nuevo Aromo SA., a company that belongs to two businessmen, Isaac Salvador Kiperszmid and Ángel Oscar Lombo,” the organization specified.
The sale of the last available lots would be completed in this first tranche of 2023.
Kiperszmid is linked to Continental Urbana, a company focused on buying, selling and renting real estate. But the surname is better known in the field of brick for its link with the Dypsa Group.
Innovation Park: other major investors
In November 2018, the Werthein Group and the Buenos Aires Landmark Trust purchased a two-block lot located in front of the River Plate soccer field. for an amount greater than 151 million dollars.
“The public act of the auction lasted approximately 45 minutes and the bid between both bidders raised the sale price by $10,436,980 from the base of $141,063,020,” Banco Ciudad reported at the time.
The Sancor Seguros Group, meanwhile, paid almost 12 million dollars for a 1,800-square-meter piece of land that it bought in August 2020.
The Technological Institute of Buenos Aires (ITBA), meanwhile, paid almost 25 million dollars for three pieces of land on which it will build a new headquarters. Di Tella University is another of the educational institutions that allocated funds to purchase lots. He disbursed 10 million dollars for a piece of land measuring 1,800 square meters.
Finally, the developer Nómada, owned by, among others, Pablo Saubidet, owner of the “telco” IPLAN, also bought a plot in the last installment of last year. Disbursement a figure close to 16 million dollars for a lot of 1,800 square meters.
