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Real Estate

Argentina Greets 2020 with Resilience

3 MIN READ December 16, 2019
Although Argentina has been going through challenging times, it is more important than ever to discuss where the real estate sector is headed in the next few years. Key real estate players gathered at Argentina GRI 2019 on December 5 at the Palacio Duhau Park Hyatt in Buenos Aires, with the goal of facing adversity with resilience. The sessions filled up with over 70 participants eager to debate the opportunities and hurdles that the residential, mixed-use, office, industrial and hospitality sectors will have to conquer in the coming years.  

During the Keynote session, Lorenzo Sigaut Gravina (EcoLatina) and Alejandro Catterberg (Poliarquía), both economic and political experts, gave participants a rundown of what conditions to expect in 2020. Sigaut discussed three political scenarios for the Argentinian market, including inflation, external debt and projections. Meanwhile, Catterberg addressed consumer indexes and what to expect from the elections. 

The real estate sector that continues to spark interest among investors is hospitality. The Tourism Development session brought together top hotel chains and local government officials who discussed best practices, market experiences, new destinations and the impact that past policies have had on tourism development. Santiago Berraondo (JLL) was the moderator of the session with the participation of Juan Manuel Lavallén (Government of the Salta Providence), Daniel Sanguinetti (Government of Río Negro), Joanna Ayala (NH Hotel Group) and Luis Mirabelli (Accor). 

The residential real estate sector continues to evolve as younger generations become the home-buyers of the future. During the first Master session, Tom Livelli (Greystar) gave participants a glimpse of what are the new trends in the market and tips on how to adapt to new-generation demands. Although multifamily for rent may not apply to the Argentinian market at the moment, participants showed great interest in staying up to date with the market’s new demands and how to apply these to future assets. 

Domingo Speranza (Newmark Knight Frank) kicked off the Owners vs Tenants discussion with directors from the largest corporations such as Walmart, Starbucks, P&G and Cinepolis, together with developers and funds of all sizes. The discussion revolved around creating more flexible contracts that reduce risks for both parties, as well as the new Tenant Law that sparked controversy in Argentina. 

To end the day, all participants gathered for the closing Master Session to define the best strategies to apply during times of uncertainty. Sebastian Sommer (Tyron Capital) led the conversation as all players stated their worries, hopes and lessons learned that they will bring into the new decade. 

During challenging times, it is important to gather and converse, for even though we cannot change the past, discussions and actions can impact the course of the future. Argentina GRI 2019 generated the right space for key decision-makers to speak out and be heard to build a stronger sector as we enter the new decade.
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