Real estate development is in vogue in Canelones and attracts calls from interested Argentine investors, according to the numbers handled by the Intendancy. “Canelones is attractive for the investor, we have a lot of inquiries from real estate developers in Argentina,” declared to The Observer the general secretary of the commune, Francisco Legnani.
“The most attractive thing is on the coast: we have 60 km of coastline where the initiatives do not stop arriving,” said the hierarch. “Increasingly it happens that when we go abroad they ask us about Canelones, not only because of the wine that is our flagship product, but also because of the possibility of settling down to live. That is a difference with ourselves from years ago. Canelones is on in the sights of investors, and we have to explore and exploit it in the best way”, he stated.
According to the data of the Investment Promotion Agency of the commune –which was accessed The Observer–, the real estate sector landed US$ 2,718 million in the department since the installation of the single window for investors in 2015, during the first administration of Yamandú Orsi. It is, by far, the most millionaire item in Canelones, given the total of US$ 3,531 million that came from private investment.
The industrial branch totaled US$351 million, while the commercial branch brought in US$343 million. The logistics sector, for its part, gathered investments of up to US$ 119 million. The Agency identified that in the corridor of Route 101 there is “the opportunity to develop an industrial district that houses the companies that today generate quality jobs with permanent growth, turning this territory into a national reference.” Along Route 5, on the other hand, he sees an agri-food and logistics corridor.
The organization of the Canarian commune also pointed out that this year it seeks to “strengthen regional ties, focusing on Brazil; Argentina; Mexico and Paraguay” through official international missions and participation in fairs in strategic sectors.
“In relation to the products demanded, the opportunity of food at an international level is clear. The interest in locating real estate, industrial and logistics developments continues to be evident in potential national and foreign investors. The Single Window in the Investment Promotion Agency receives an average of ten projects per week in consultative instance“, developed the Promotion Agency.
Camilo dos Santos
Archive, works around Lake Calcagno
That level of investment, the commune pointed out, resulted in approximately 7,148 direct jobs and a workforce of 6,394 people for construction. The administration also recognized that the “proximities of the international airport of Carrasco and Ciudad de la Costa are the most coveted for projects of this type.”
In the commune they distinguish an “international interest” in the cannabis market, expressed through requests for information for the location of companies linked to that sector. “Canelones has territorial, technical, professional, regulatory and infrastructure capacities to accompany them,” the intendency detailed in its report.
