Altius Group Launches More Mariscal 3 and Consolidates the Growth of Central Mariscal in Asunción
- Carlos E. Gimenez
- 7 hours ago
- 4 min read
The new residential building is part of the mixed-use complex that expands Shopping Mariscal and reinforces the consolidation of a new urban center in the Mariscal neighborhood.
In a context where Asunción's real estate market continues to move towards greater integration of uses, density, and urban quality, the launch of More Mariscal 3 marks a new stage in the evolution of Central Mariscal, one of the city's most significant mixed-use developments. Driven by Altius Group Paraguay, the project was officially presented yesterday, consolidating a strategy that combines housing, commercial activity, offices, and urban life in a single environment.
The presentation event took place at the More Mariscal stand, located on the ground floor of Block B of Shopping Mariscal, and brought together strategic partners, industry leaders and special guests in an event that not only formalizes the launch of the third tower, but also reflects the level of progress and consolidation achieved by the complex.
Central Mariscal originated in 2021 with the acquisition of land for a comprehensive project in one of the city's most dynamic areas. In its first phase, the development includes an office tower, a food court, and two residential towers: More Mariscal 1 and More Mariscal 2, comprising approximately 230 apartments. The office tower and the food court were acquired by the Penta Group as part of the expansion of Shopping Mariscal, reinforcing the complex's central urban character.
The complex comprises three residential towers under the More brand, an office tower, and a food court featuring renowned brands such as Café de Acá, Kessel, and Mozzafiato, among others. This configuration not only expands the real estate offerings but also helps to consolidate a new urban center in the city, bringing together different functions in one location.
The project's progress has been steady and largely simultaneous. The delivery of the corporate tower and the food court is scheduled for this year. Meanwhile, the More Mariscal 1 tower has already begun its handover process, and tower 2 is projected for October. In commercial terms, performance has been significant: sales for both residential towers have reached approximately 90%, reflecting strong market demand.
It is within this context that More Mariscal 3 was added, as a direct response to demand and the need to continue expanding the offerings within the complex. The possibility of acquiring an adjacent plot of land allowed Altius to extend the original project and add a third tower which, while functioning as a new phase, was conceived from its design as an integral part of the whole.
More Mariscal 3 adds approximately 90 new residential units, featuring layouts that return to the most popular product in the first towers: studios, and one- and two-bedroom apartments. Sizes start at 28.75 m² for studios, reach 57.05 m² for one-bedroom units, and 64.45 m² for two-bedroom units. Prices start at USD 65,500, with parking spaces available from USD 19,000.
The product's focus reflects a clear understanding of the market. The studio apartments, designed with a compact and efficient layout, are positioned as units particularly well-suited for short-term rentals, including platforms like Airbnb, thus expanding the buyer base to include investors seeking returns and liquidity.
From an urban planning perspective, the project is situated in one of Asunción's most established and vibrant neighborhoods. The Mariscal district, within Recoleta, is characterized by a rare feature in the city: a truly pedestrian-friendly scale, supported by continuous sidewalks, a high density of commercial establishments, and an organic mix of residential, office, and service spaces. Streets like Hassler, which provides direct access to More Mariscal 3, function as active corridors, while avenues like Mariscal López are home to high-end corporate developments, including newly planned towers that continue to enhance the area's profile.
This urban condition is no small attribute. In a market where many areas still face limitations related to infrastructure, drainage, or lack of pedestrian access, the Mariscal neighborhood manages to consolidate a more complete urban experience, where proximity and mixed uses reduce dependence on cars and foster a more active city dynamic.
The project's design, by the BMA studio, reinforces this logic of integration, but also introduces an internal operating criterion that seeks to balance residential life with the complex's commercial activity. Each tower has independent access from different streets: Estigarribia, De Gaulle, and Hassler, which preserves residents' privacy while maintaining a direct connection with the gastronomic, commercial, and corporate environment that defines Central Mariscal.
The development is being driven by Altius Group Paraguay, a firm that is part of one of Uruguay's most prominent development groups, with a presence in Paraguay, Panama, and Mexico. Its regional track record and financial backing have been key factors in consolidating its position in the local market, where it is currently developing projects such as More Plaza, Nostrum Trinidad, Los Pingos, and Central Mariscal, in addition to having completed More del Sol.
The project's financing is structured around a mixed model, involving investor capital, bank financing, and contributions from buyers. In this context, Península plays a central role as the group's investment arm, with over 20 years of experience managing real estate funds and participating in projects that, combined, exceed USD 9 billion regionally. The relationship between Península and Altius is based on a complementary approach to capital and development, enabling the execution of projects in diverse markets with a local focus.
Construction of More Mariscal 3 is scheduled to begin in October 2026, with an estimated completion time of approximately two years. In the meantime, the project maintains an active showroom at the intersection of Hassler and De Gaulle, where interested parties can learn more about the project and visit model units in Tower 1.
As the first phases are completed and the commercial and gastronomic components are activated, Central Mariscal is beginning to materialize as a comprehensive urban project. In this context, More Mariscal 3 not only expands the scale of the development but also reinforces a growth strategy that responds both to market demand and a broader vision for the city's evolution.
With this launch, Altius not only continues to expand its presence in the residential segment, but also consolidates one of the most structured proposals in terms of mixed use in Asunción, positioning Central Mariscal as a benchmark in the recent urban transformation and in the way real estate developments are conceived in the country.
