PUENTE Launched The First Investment Fund In Real Estate Developments Of Paraguay
The first series, of seven million dollars, is destined to build a complex of 162 homes in the town of Luque
Asunción, May 31, 2021.-PUENTE, The leading regional Wealth Management and Capital Market firm, through its fund managment company, PUENTE AFIPSA, has launched the country's first Real Estate Development Investment Fund. It is a Patrimonial Fund, registred with the CNV and traded on the Asunción Stock Exchange.
The Fund's first registered global program is for up to USD 50 million and this Tuesday, May 25, a first series of USD 7 million was successfully issued at BVPASA to finance a 162-apartment high-rise housing complex in the town of Luque, being subscribed by different institutional investors.
The Fund has several residential, commercial and mixed-use projects under study, both in Greater Asunción and in the interior of the country, which will be launched in the coming months and financed by new series of the same global programs.
The real estate market in Paraguay, due to the increase in the supply of mortgage financing, is growing above the average for the region, trying to satisfy a need for middle-class housing in large urban centers. In addition, for local and foreign investors, it is an attractive sector as it offers higher returns than those of the countries in the area.