Re: But in many of these countries, the wealth is held by a few in power (read government) who do not wish to share with their countrymen - and these people do not work harder. They seem to be selfish.
Right on...
Hacienda Virtual Realty Argentina - HVRA
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The new owners of Patagonia
Suddenly, investing in Patagonian real estate has become hip, whether domestic or foreign. Personalities from Stallone to Ted Turner to George Soros have been attracted by the beauty and the economic incentive of this privileged Argentine region.
The geographic magic of Patagonia has conquered them all. Foreign tycoons and high ranking local businessmen split up Patagonia among themselves like viceroys. They mingle at the hub of a majestic scenery, wallowing in their private fortresses amidst exuberant, virgin, hypnotic real estate.
The 'Land of the Ceasars' has new owners: Benetton, Ted Turner, Charles Lewis and Sylvester Stallone; George Soros, Goyo Perez Companc, the Swaroski family; Daniel Sielecki, head of "Adams & Phoenix" laboratories; Jorge Acevedo, majority stockholder of Acindar; Octavio Caraballo, of Bunge & Born; not to forget the crowd of German nobles: count Wolf von Bucholtz, Ruprecht von Haniel, prince of Bavaria ...
What fortunes are amassed there in the form of private capital and property, how much in human resources?
The last signatures on the map of Patagonian investment are those of IRSA in Bariloche, Benetton in the province of Chubut, and Luis Moreira and his five million dollar hotel investment in the heart of San Martin de los Andes. IRSA closed with CITI the sale of the "Llao Llao" [pronounced "jeow-jeow"], the most traditional and luxurious hotel of the Argentine south, which had been on sale for a year for a teasing pricetag.
The bank had bought the hotel for six million dollars, and despite the additional 40 million poured in to refloat it, the management's inexperience put the crown jewel back on the market, for the highest bidder.
The numbers worked out for George Soros and IRSA (of which he holds 21%), who paid 13 million for the completely remodelled and immaculate establishment sporting a spa, golf course [the only one in Patagonia apart from the course pertaining to the extremely private and former Opus-Dei-members-only resort "Cumelen", in nearby Villa La Angostura and its own pier on Lake "Nahuel Huapi".
Apparently, they saw more than just the elegant Bustillo-architecture of the hotel.
The surrounding -and available- lands would accompany the current property development and become the first line of attack for the foreseen rise in tourism. That's how Moreira saw it, too, owner ot the Seabord hotel in San Bernardo and chief of construction company "Demor", who came up with his own 3 million and 2 million more via the "Banco de la Provincia de Buenos Aires", now cutting the ribbon surrounded by all the mandatory pomp for the opening of the five star hotel "Patagonia Plaza", with 85 rooms, one presidential suite and 13 junior suites.
But Moreiras bet on tourism goes further: his eyes are fixed on the "Sol de los Andes" hotel, close to the skiing area of "Cerro Chapelco", whose lease will be renewed shortly by the mounts operators.
Luciano, "el grande"
This time, the mega industrialist from Treviso, Italy, did the investing in land more discreetly. Benetton payed Emilio Besadini an undisclosed sum for the estancia "Layaique", with 40,000 hectares [close to 100,000 acres] of prime patagonian steppe, next to Condor and Coronel, two of the seven ranches that comprise the holding "Compa–’a Tierras del Sud Argentino".
This way he secured his pole position held since 1991: the largest land owner of the Argentine South. His holding owns next to 900.000 hectares [2.22 million acres]- more than twice the area of metropolitan Buenos Aires [population: 13 million]- including 280.000 sheep and over 10.000 Herefords.
The first 837.000 hectares [2 million acres] were bought from Menéndez, Ochoa & Paz, whose lands had belonged once to the (now repatriated) capital of British "Souther Land Co.".
The architect of the empire of the United Colors has invested 100 million dollars in Patagonian soil; together with the "Layaique" he bought another 15.000 hectares [37.000 acres] in Balcarce, Province of Buenos Aires, for 25 million, and payed that same amount in land technification.
Today, 10% of every sweater of the Italian maker is of Patagonian wool: merino and cormo, the latter one more rustic and produced in Río Gallegos [in the extreme South, just north of Tierra del Fuego], where the climate factors wind, temperature and humidity are not apt for merinos. The oldest of the Benettons created his colossus starting out by selling his sister Guiliana's bicycle and a minor state loan. His empire, one of the five largest in Italy, includes lands in Texas and in the Italian regions of Padua and Venice.
Although widely diversified -he holds stock by Rollerblade, Prince, Nordica, the highway eatery franchise "Autogrill Ciao", among a larger number of companies- the holding is still managed in a peculiar family style.
Carlos, youngest of the four brothers, manages the Patagonian land holding comprised of "El Maitén" and "Leleque" (El Chubut), "Coronel" and "Condor" (Santa Cruz), "Alicura" (Neuquén), "Pilcaniyeu" (Rio Negro) and the latest acquisition mentioned above. They are planting trees at the rate of 500 hectares [1.235 acres] per year.
More than three million ponderosa pines have been planted, because if there's anything the clan boasts about it is their mature ecologic conscience.
At the favorite estancia, Pilcaniyeu, whose stone shell was built in 1930 to honor the visit of the Prince of Gales, Carlos Benetton, a trekking fan, trains his wrist in the art of flyfishing for trout or, defyingly, traverses Patagonia - last season he reached the peak of Cerro Aconcagua [6.960 m / 22.834 ft].
Other foreigners
They say there wasn't much fussing around. A laconic nod by his biologist, flown in to confirm the presence of trout and salmon in the "Traful" and "Minero" rivers, was enough for media mogul and avid fishing fan Ted Turner to pick up the estancia "La Primavera" with its 11.000 acres surrounding the vintage stone-and-wood main building, less than 10 miles from 200-souls "Villa Traful", formerly the property of National Park executive Felipe LariviŽre.
A power of attorney, a signature and 6.5 million dollars were enough for these lands to become the occasional relax refuge of the Turners.
"No comment"- which sounded more like a yes than no, was the answer of the "Hidden Lake S.A." spokesman when insistently asked about a partnership between Stallone with gastronomic entrepreneur Charles Lewis, owner of the Latin American part of the "Planet Hollywood" franchise, of which Stallone is one of the main stockholders. The 30.000 acres around lake Escondido, between Bariloche and El Bolsón went for 8 million dollars, payed to the Montero family, and a large mansion is being built at a fast pace.
[snip]
hvra.com.ar
BTW, a Belgian industrialist (head of the country's first dredging company) is said to have purchased a 10,000 hectare (25,000 acres) estate in Argentina in 1999.... |
