A territory that went from being a strategic outpost on the border to consolidating itself as the second most important city in Paraguay, articulating trade, infrastructure, demographic growth and a real estate market in full expansion within a metropolitan system that unites Ciudad del Este, Hernandarias, Presidente Franco and Minga Guazú. Ciudad del Este began as a strategic border post and has since transformed into an urban and economic hub whose influence extends far beyond the country's borders. Founded as Puerto Flor de Lis in 1957, and later renamed Puerto Presidente Stroessner, the city established itself from its early decades as a connection point between Paraguay and Brazil, bolstered by the increased traffic generated by the Friendship Bridge and a dynamism of commerce that has continued to grow. Today, it is the capital of the Alto Paraná department, located 327 kilometers from Asunción via Route PY02, now almost entirely a dual carriageway, and forms part of the extensive urban ecosystem of the Triple Frontier, along with Foz do Iguaçu and Puerto Iguazú—a transnational area of nearly one million inhabitants that shares commerce, tourism, energy infrastructure, and a constant flow of people and capital. The 2022 Paraguayan census confirms the district's demographic magnitude, with 325,819 inhabitants within its boundaries and over half a million if the metropolitan area, which includes Hernandarias, Presidente Franco, and Minga Guazú, is considered. This urban area has evolved into a polycentric system where each city plays a complementary role: the departmental capital maintains its commercial and logistical leadership; Hernandarias concentrates energy, industry, housing, and large private developments; Presidente Franco is emerging as a residential and tourist corridor with direct access to the Paraná River; and Minga Guazú is positioning itself as an industrial and airport hub, driven by the Guaraní Airport and numerous logistics parks. Ciudad del Este's geographic location made it an economic and cultural hub from an early age. Thousands of people cross the Friendship Bridge daily, primarily from Brazil and Argentina, drawn by the retail, wholesale, and technology model that distinguishes the city within the country. This is complemented by a growing shopping tourism sector that sustains a steady flow of visitors in both high and low seasons, creating an ecosystem where traditional galleries, contemporary shopping centers, and retailers serving both the end consumer and the regional market coexist. Border infrastructure is undergoing a transformation that will reshape mobility patterns in the metropolitan area. The new Integration Bridge, which will connect Presidente Franco with Foz do Iguaçu, will begin operations in December 2025, gradually reducing congestion on the Friendship Bridge, channeling freight traffic to a dedicated corridor, and creating a new logistics hub south of Ciudad del Este. This project is complemented by the duplication of Route PY02, completed in its final sections in 2023, which has reduced travel times, improved road safety, and strengthened integration between the capital and the eastern region, facilitating both commercial transport and the flow of workers, students, and tourists. The consolidation of Ciudad del Este as Paraguay's second most important city, in economic, population, and regional influence terms, is explained not only by its commerce but also by the emergence of new urban functions. Light industry is growing in the periphery; new corporate centers are emerging, such as the World Trade Center inaugurated in 2021; and the real estate sector is experiencing an expansion cycle with residential, corporate, and large-scale projects that capitalize on a transforming market driven by local and metropolitan demand. One of the cornerstones of the area's urban development is the Paraná Country Club in Hernandarias, a pioneering project that laid the foundation for the concept of large-scale private residential developments in Paraguay. Established in the 1980s on approximately 450 hectares, the PCC combined, from its inception, sports facilities, a clubhouse, golf, and direct access to the Paraná and Acaray rivers, all within a privileged natural setting. Over time, it evolved into a "socioeconomic district" encompassing more than 2,700 properties, integrating established residential areas, local businesses, urban amenities, and a community that blends permanent residents with weekend homeowners. Its influence on the urban development of eastern Paraguay was decisive: it boosted the value of Hernandarias, attracted services, and established a standard that other residential developments sought to replicate. Costa del Lago en Hernandarias Among the projects redefining the area's growth, Costa del Lago, developed by Raíces Real Estate in Hernandarias, stands out. Spanning 380 hectares and featuring a crystalline lagoon of 3 to 3.5 hectares using Crystal Lagoons® technology, the project solidified the "beach country" concept in eastern Paraguay. Its offerings, including a marina with access to Lake Itaipu, sports areas, walking trails, swimming pools, courts, and a world-class clubhouse, introduced a water- and leisure-oriented lifestyle, a combination that attracted both local residents and buyers from other cities, especially Asunción. Its inauguration in 2023 marked a turning point in the adoption of large artificial bodies of water in Paraguayan real estate projects. Vivo Los Naranjos y Vivo Los Guayabos de Codas Vuyk The arrival of developers with a national track record further strengthened the East's position as an expanding real estate market. Codas Vuyk and CRESIA arrived in Ciudad del Este in 2024 with the start of construction on Vivo Los Guayabos and the launch of Vivo Los Naranjos , two developments located in one of the city's most traditional residential corridors. The area, historically linked to families from the Itaipu Dam, is characterized by spacious homes, leafy trees, and a strong neighborhood identity, making these projects a natural evolution of the residential market toward vertical developments. Vivo Los Guayabos , a six-story building with units ranging from 40.43 to 135.24 square meters, offers a product with a strong focus on the end consumer, providing one- to three-bedroom options with contemporary design and a planned delivery date of 2026. The project's sales rate has exceeded 90%, confirming the latent demand for quality vertical housing in the city. Vivo Los Naranjos , also a six-story building, targets a similar market but with larger units, ranging from 80 to 150 square meters, responding to two clear market trends: young people seeking independence within the neighborhood where they grew up, and families who find apartments a more functional and practical alternative to a traditional house. Its delivery is scheduled for 2027. Paseo Boquerón de Codas Vuyk In addition to these projects , Paseo Boquerón is located almost on the shore of Lake of the Republic, one of the most iconic areas of Ciudad del Este. With 84 units suitable for short-term rentals, the project was conceived based on a very specific demand profile: residents and tourists seeking versatile apartments in strategic areas with high pedestrian traffic, access to green spaces, and proximity to restaurants, universities, and urban amenities. Its amenities—coworking space, study room, gourmet lounge, game room, barbecue area, swimming pool, solarium, and gym—cater to a clientele that values a comprehensive living experience. More than 75% of the units have been sold, and delivery is scheduled for April 2028. Riviere de Metrika Metrika, for its part, was one of the first developers in Asunción to make a strong push into the East. Following the launch of Fronterra in 2022, now completed and inaugurated, the firm began construction in 2024 on Riviere , a project of understated scale but great architectural sophistication located in the new extension of the Paraná Country Club's commercial district. On a 2,000-square-meter plot just a few meters from the riverfront, Riviere features spacious residential layouts: penthouses of 295 m², three-bedroom units of 205 and 195 m², and two-bedroom apartments ranging from 117 to 147 m². The architecture prioritizes the relationship with the Paraná River landscape and interior flexibility, with delivery scheduled for July 2027. Metrika's presence in the city not only expands the residential offering, but also raises the standard of design and sustainability in the local market. Lofty City Hub de Metrika The dynamism of the East's real estate market is also reflected in the emergence of conceptual proposals that interpret the new ways of living for a young, mobile, and connected generation. Lofty City Hub , launched in 2025 in the heart of Barrio Boquerón 1, is a clear example of this transition. Conceived as a vertical ecosystem that combines housing, retail, and collaborative spaces, the project is located in the city's most vibrant gastronomic and university corridor, one block from Lake of the Republic, and boasts unobstructed views thanks to its location on a cul-de-sac. Lofty City Hub represents the consolidation of a new urban model in Ciudad del Este: hybrid buildings that seek to integrate uses, promote pedestrian-friendly living, and create a residential experience associated with shared time, versatility, and proximity to services. This entire urban, economic, and real estate network makes Ciudad del Este a unique case in contemporary Paraguay. Its evolution is not the result of spontaneous growth, but rather an accumulation of infrastructure, political decisions, investments, and migration patterns that have redefined its territory. Today, the city combines its identity as a commercial hub with progressive industrial development, the decisive presence of Itaipu as a regional player, an increasingly sophisticated real estate sector, and an expanding metropolitan network. As the new bridge opens a second international access point and residential and corporate projects gain scale, Ciudad del Este is likely to deepen a process of urban transformation already evident in its neighborhoods, along its riverfront, and in the way thousands of people live there, move through it, and envision it as a frontier city in the 21st century.

An exploration of the co-ownership regime, building governance, and shared responsibilities that define the future of real estate assets, beyond architecture and location. In the minds of many apartment buyers, real estate investment boils down to a simple equation: buy, rent, collect a return, and wait for appreciation over time. However, behind this simplified view lies a complex structural system, deeply regulated and absolutely crucial to the value of any property. A system that, paradoxically, is unknown to the vast majority of owners and investors: building management and the co-ownership regime that governs its operation. In contemporary urban Paraguay, where vertical development is progressing at an accelerated pace, a lack of awareness about these issues is widespread. Owners rarely understand that, from the moment they acquire a unit, they become part of a community with specific rules, shared responsibilities, and a governance structure that defines the financial and physical health of the building. They are also unaware that the way the property is managed is one of the factors that most significantly impacts the preservation of its value, the quality of life of the residents, and future profitability. They believe that simply paying a monthly maintenance fee is sufficient, as if it were a fixed amount without further consideration, without questioning what is actually being done with that money, how maintenance is planned, or what mechanisms exist for decision-making. The breaking point often comes when a curious owner begins to notice certain inconsistencies: unchecked wiring, unmaintained fire suppression systems, construction projects that are never carried out, unclear invoices, or simple signs of deterioration that reveal a lack of planning. This initial unease opens a door, for some, to a world they had never considered. With a genuine desire to understand how the building operates and how the collective investment is managed, many begin to investigate: they ask how the administration is governed, what the procedures are for an assembly, who actually makes the decisions, what the administrator's obligations are, and how expenses are controlled. Along the way, they discover that there is a legal structure that regulates all operations: the condominium bylaws. The condominium bylaws are a key document drafted before the building is constructed and registered with the Public Registry. Simply put, it's the building's charter, similar to the articles of incorporation of a corporation. It establishes the ownership percentages for each unit, the administrative procedures, the relationships between owners, and the decision-making process. These bylaws determine how the assembly is formed, how a board of directors is elected, and the obligations and limitations of both the administrator and the owners themselves. None of this is optional. Nothing is informal. Everything adheres to a precise legal framework. Despite its importance, this document is virtually unknown to most homeowners. Many owners never read it and, therefore, are completely unaware of their rights and obligations. They don't know that, according to the co-ownership regulations, there must be a board of directors elected at an assembly, made up of owners, and responsible for overseeing everything that happens in the building. Nor do they know that the contracted management company must answer to this board, which functions like a directory, and not make decisions on its own. In many buildings, the exact opposite occurs: the management operates without oversight, makes hiring decisions, purchases, manages budgets, and carries out construction work without the formal approval of the body that should be managing the building. This distortion is so common that many residents believe it's the normal way things work, when in reality it represents a breach of both the regulations and the basic principles of governance in a shared property. When owners become more involved, they also discover that the smooth running of the building depends not only on the manager's will, but also on a balanced approach to roles. The board of directors, composed of individuals who must necessarily be co-owners, is responsible for managing the monthly budget, approving expenses, overseeing the hiring of suppliers, evaluating improvement projects, ensuring transparency in decision-making, and maintaining the overall condition of the building. The management, for its part, must implement the board's decisions, ensure compliance with regulations, maintain accurate records, submit regular reports, and always act according to directives, not on its own initiative. When this system fails, buildings experience problems that silently erode their value. Purchases are made without oversight, suppliers are not properly vetted, maintenance staff are unqualified, emergency systems are neglected, preventative maintenance is indefinitely postponed, and minor issues accumulate into major problems. A lack of transparency breeds distrust, the absence of planning drives up costs, and physical deterioration impacts both resale value and the building's ability to attract good tenants. In practical terms, poor management can destroy more value than any market fluctuation. The widespread lack of awareness about these matters has an additional effect: many owners believe they have no right to get involved. They assume that the management "takes care of everything" and that they have no say beyond paying their maintenance fees. The truth is that every owner, even those who don't actively participate in meetings, has the right to request all the monthly invoices, review the cash flow, meet the suppliers, verify that prices are in line with the market, and understand how every guaraní is being spent. It's everyone's money and, therefore, subject to everyone's oversight. The management cannot refuse to provide information because it is part of a condominium association that has a duty to be accountable. As buildings grow in complexity, the legal dimension becomes even more important. Assemblies must be conducted in strict accordance with the Civil Code, both in terms of notice and quorum, as well as the validity of resolutions. Failure to do so can result in any decision being challenged and even lead to legal liability. Therefore, in many cases, it is advisable for a lawyer to oversee the assembly process, review the co-ownership regulations, verify compliance with formalities, and ensure that decisions are legally sound. This is not about bureaucracy; it is about protecting the building, the owners, and the collective investment. The culture of involvement that many buildings are tentatively beginning to develop demonstrates that when owners organize themselves and get to know each other, operations improve immediately. Decisions become more strategic, transparency increases, expenses are optimized, and building maintenance becomes a shared priority. Management, far from being an autonomous entity, becomes an efficient executor of a common project. This interaction yields a double benefit: residents enjoy a more well-maintained and harmonious environment, while tenants obtain a more stable and predictable return on investment thanks to a property that is well-managed and valued by the market. Ultimately, getting involved isn't about taking on too much, but about protecting the property. Real estate investment doesn't end with the handover of the keys; it begins there. A well-managed building retains its value, ages gracefully, remains competitive against new offerings, and inspires confidence in the market. A poorly managed one, on the other hand, loses value, increases vacancy rates, generates internal conflicts, and eventually becomes a problematic asset. Understanding the co-ownership regulations, the role of the board, overseeing management, demanding transparency, participating in decisions, and maintaining open communication among owners are not optional; they are essential parts of modern real estate. In an increasingly vertical and sophisticated market, the sound management of a building is one of the strongest pillars for sustaining real returns and extending the asset's lifespan. What happens behind closed doors—in decisions, meetings, financial statements, and maintenance—often determines whether an investment thrives or declines.

A tour of the country's largest-scale private residential developments, where the combination of lagoons, golf, integrated services and long-term planning is beginning to redraw Paraguay's urban map. In less than two decades, Paraguay went from having a few pioneering gated communities to developing a network of private residential developments on an unprecedented scale in the region. These gated communities, residential developments, and veritable "micro-cities" combine housing, sports, commerce, education, entertainment, and, increasingly, water: rivers, natural lagoons, and large crystal-clear bodies of water. This ranking brings together some of the largest large-scale private residential developments in the country, ordered by approximate area, based on information provided by the developers themselves and public data. The figures in hectares are approximate and may vary slightly depending on the source or the stage of the master plan. Beyond differences in location or business model, they all share a pattern: territorial scale, strong presence of water, amenities above the historical market standard and a long-term view on how the city is inhabited, invested in and built. 1. The Delta – 1,600 hectares (New Asunción) The Delta is, today, the largest private development in Paraguay. Located between the Remanso Bridge and the Heroes of Chaco Bridge, on the right bank of the Paraguay River, it covers approximately 1,600 hectares in what is known as New Asunción; a territory destined to become the country's great urban laboratory. With a master plan by BMA and urban design by Solaria City Makers, El Delta presents itself as a planned city where water shapes the landscape: 6 kilometers of riverfront, 23 kilometers of navigable canal, and 16 kilometers of inland lagoons. This water infrastructure is not only a scenic resource but also a key element of value: views, marinas, nautical activities, and a layout of neighborhoods that are constantly connected to the water. Within the master plan, La Isla Del Delta was the first residential development: an island connected by a bridge, with 66 lots of approximately 2,000 m² each, establishing a concept of exclusivity rarely seen in the local market. It is complemented by other developments such as Riverside, a complex of medium-density buildings up to eight stories high with views of the river and golf course; Barrio Norte, with 300 lots on 100 hectares and a sports clubhouse designed by Christian Gould; and Barrio Náutico, which embodies the project's aquatic DNA with 68 hectares, 200 lots, and private marinas for boats. The Delta also integrates a corporate and service layer that brings it closer to the idea of a "city in itself": Las Palmas Street Mall, a 55,000 m² shopping center with a gastronomic offering and everyday services; a Business Center with buildings such as Alkan, Navis and Navis II; and the country's first free service zone, with three office towers geared towards national and international companies. Completing the ecosystem are the Marina del Delta nautical complex and Tarumá Golf, an 18-hole course designed by Stirling & Martin, which consolidate the project as a regional benchmark at the intersection of urban planning, nautical life and high-standard real estate. 2. Paraná Country Club – 450 hectares (Hernandarias / CDE) If El Delta represents the new generation of mega-developments, Paraná Country Club is the great pioneer. Born in the 1980s as a venture of the eponymous real estate company, the project extends over some 450 hectares in Hernandarias, at the confluence of the Paraná and Acaray rivers, and has established itself over time as one of the most prestigious and well-established private residential communities in the country. Originally conceived as a country club, with golf, clubhouse and swimming pool as commercial magnets, the PCC evolved into a private urbanisation with three well differentiated areas: commercial sector, residential area and the club itself, articulating today 2,700+ properties including homes, lots and complementary developments. The first golf course and clubhouse marked the beginning of a lifestyle associated with sports, socializing, and connecting with nature, in a setting of lush forests just minutes from Ciudad del Este. Over the years, the Paraná Country Club became a true "socioeconomic district": groundbreaking sporting activities, a vibrant social life, local shops, and a well-established community of permanent and weekend residents. In urban terms, it is the direct antecedent of many current projects: a large expanse of private land, with internal infrastructure, its own governance and a very strong identity, which ended up influencing the way suburban development is thought about in Alto Paraná and in the country. 3. Lake Coast – 380 hectares (Hernandarias) Costa del Lago, developed by Raíces Real Estate in Hernandarias, with 80 hectares, is configured as one of the largest country clubs in the region. The heart of the project is a crystalline lagoon of approximately 3 to 3.5 hectares, created with Crystal Lagoons® technology, which recreates a Caribbean beach experience with white sand on the Alto Paraná plateau. The development also includes green areas, a marina with access to Lake Itaipu, a sports area with tennis, paddle tennis, and soccer courts and swimming pools, bike paths, and a clubhouse with top-tier amenities. Opened in 2023, Costa del Lago consolidated the "beach country" format in the east of the country and anticipated the boom of projects anchored in large artificial bodies of water, which would later be replicated in other cities. 4. Agua Vista – 307 hectares (San Juan del Paraná / Itapúa) Agua Vista is the premier example of this sport in the south of the country. Located in San Juan del Paraná, facing the Paraná River and just minutes from Encarnación, it spans approximately 307 hectares, combining natural topography, water views, and a robust sports infrastructure. The development features over 1,100 lots ranging from 800 to 1,400 square meters and a sports package rarely seen in the local market: an 18-hole professional golf course on 57 hectares, two professional soccer fields, tennis courts, paddle tennis courts, basketball courts, a 10-km bike path, a mountain bike circuit, and a fully equipped gym. In addition, there is a prime nautical area with 36 docks, a boat storage facility, a navigation channel, and a private beach with barbecue areas and support facilities for recreational use of the river. Agua Vista positions itself as a riverside community that integrates the Paraná River landscape, high-level sports, and low-density housing. It is also one of the cases where the tourism and second-home component blends with an increasingly stable community of permanent residents, taking advantage of the economic dynamism of Encarnación and its surrounding area. 5. Aquadelta – 200 hectares (North District / Limpio) Aquadelta is one of Raíces Real Estate's strongest projects in the northern corridor of Asunción. Developed on more than 200 hectares on the banks of the San Francisco stream, about 25–30 minutes from the capital's corporate hub, it is conceived as a planned community that combines nautical living, high-level amenities, and integration with educational and commercial services. Its scale is its great differentiator: a 600-meter waterfront, a wave lagoon of more than 3 hectares, six residential neighborhoods, two nautical neighborhoods and a Wave neighborhood, in addition to more than 4.5 hectares of sports areas, a sports clubhouse, a nautical nursery and facilities designed for intensive use of water as a daily amenity. The master plan allocates over eight hectares for commercial and service areas: on the right, an educational cluster with a school (International Smart School), a university, and coworking spaces; on the left, retail, restaurants, and convenience services. The idea is to reduce the need for long commutes and allow family, academic, and social life to unfold in the same environment. In market terms, Aquadelta emerges as a response to a growing tension: families who value connectivity to Asunción but seek a yard, green spaces, amenities, and outdoor living, in a context where the capital's apartment stock has already reached a critical mass. The project positions itself as a kind of nautical "park-city," where commute time becomes a quality-of-life factor rather than a daily burden. 6. Rialto – 192 hectares (Nueva Asunción) Rialto is another key piece of the Nueva Asunción puzzle. Developed on approximately 192 hectares across the Héroes del Chaco Bridge, it presents itself as a large-scale gated community, with 42 hectares of lagoons integrated into the urban design and a strong focus on combining nature, contemporary design, and underground infrastructure. The project is located just minutes from the airport and the business district, making it especially attractive for those seeking proximity to Asunción's city center without sacrificing a low-density, green, and waterfront environment. The current phase of development includes the first neighborhood with 248 single-family lots, amenities such as an events hall, clubhouse, gym, bike path, paddle tennis court, and swimming pool with deck, as well as paved streets and all underground utilities. 7. Los Pingos – 100 hectares (Surubi'í / Limpio) Los Pingos – Country Club is a 100-hectare development within the traditional Surubi'í urbanization, on the banks of the San Francisco stream and only 3.2 km from Aquino Avenue. The project, spearheaded by Altius Group and backed by Peninsula Investments Group, features a meticulously curated design: the urban master plan was developed by Estudio Robirosa, a leading firm in gated communities in Argentina, and the design of access points and common areas was created by Ezequiel Gil of Estudio Pacífica. This combination results in a gated community where architecture, landscape, and water play a central role. One of Los Pingos ' distinguishing features is its system of natural lagoons with ecological treatment, which allows for low-cost maintenance of water quality and enables recreational use with private docks on the lagoon-fronted lots. The clubhouse on the stream, complete with a beach and marina, complements the comprehensive sports infrastructure and the proximity to alumni clubs and associations such as Centenario, CURDA, San José, and Goethe, reinforcing its position in the segment of families who combine active professional lives, vibrant social life, and a desire to enjoy nature. The project also integrates centrality components such as Los Mimbres Open Mall and its proximity to Maple Bear Surubi'í school, which anchor commerce and education within the urban environment itself and raise the level of service of the entire area. 8. Highlands – 90 hectares (San Bernardino) Highlands Park & Lagoon , developed by Petrohué Real Estate on the old access road to San Bernardino, is one of the projects that has garnered the most attention in the market for its combination of art, nature, and Crystal Lagoons® technology. It sits on a 90-hectare site, with 469 lots, 75 townhouses, and a future complex of residential buildings and a boutique hotel. Its main feature is a crystal-clear lagoon with a 100% beach perimeter, which, according to the developer, covers approximately 28,000 m² of water and over 21,000 m² of sand. The architectural design, by Gould Arquitectura, employs a dual approach: light and subtle facades facing the beach and more pronounced volumes towards the exterior, giving the complex a contemporary identity. Highlands also features meticulously landscaped grounds with native and ornamental plants, a clubhouse with a beach bar, a gym, a barbecue area, and a children's playground. The project is being developed in two phases: the first focuses on individual lots, townhouses, and a lagoon; the second comprises larger lots for apartment buildings, a shopping promenade, a variety of restaurants, and a boutique hotel with its own private beach. Construction on the first phase began in 2023, and its completion is projected for 2026. 9. Blue Lagoon – 86 hectares (Pedro Juan Caballero) Blue Lagoon Amambay is a prime example of how the gated community model with a crystal-clear lagoon has expanded beyond the Asunción-Cordillera axis and the Alto Paraná region. Located minutes from downtown Pedro Juan Caballero, this Raíces Real Estate project covers approximately 86 hectares, featuring green areas, walking paths, and a Crystal Lagoons® lagoon of around 4 hectares as its centerpiece. The concept replicates, adapted to the Amambay context, the logic of a “residential resort”: beach, sports, beach bar, and amenities in a controlled and secure environment. In a city historically marked by border trade, Blue Lagoon introduces an aspirational residential product that adds a new layer to the urban and tourist fabric of the area. 10. Aquabrava – 65 hectares (Highlands / Mountain Range) Aquabrava , also by Raíces Real Estate, is located on the San Bernardino–Altos road, 3 km from Aquavillage, and is developed over 65 hectares with 463 residential lots, nine macro-lots and two apartment buildings, forming a new generation gated community focused on sustainability. The heart of the master plan is a crystalline lagoon featuring Wavetech artificial wave technology, the first of its kind within a gated community in Paraguay. Surrounded by over 9,000 m² of sandy beaches in almost 360 degrees, it houses the recreational facilities: clubhouse, swim-up bar, gym, tennis courts, paddle tennis courts, soccer field, and multipurpose courts. The landscape is complemented by an on-site nursery (Garden Market) for the acclimatization of plant species and a design that emphasizes native vegetation and resilience. In terms of infrastructure, Aquabrava integrates advanced stormwater drainage solutions, capturing runoff into a natural ravine, reservoir, and reusing it for irrigation. This positions it as the first gated community in the country to pursue LEED certification at the development level, not just for individual buildings. Multifamily housing is incorporated with the MAUI buildings, low-rise beachfront residences facing the lagoon, which broaden the appeal by offering condominium-style apartments without sacrificing direct access to amenities. A new city map: trends and challenges Taken together, these ten developments help to understand the current state of the large-scale private residential market in Paraguay: The scale is no longer that of traditional land subdivision, but that of the territorial master plan: projects of 60, 80, 200 or 1,600 hectares that function as cities in themselves, with integrated housing, commerce, education, sports and recreation. Water has become the structuring axis of real estate value: rivers, natural lagoons and crystal mirrors with state-of-the-art technology are the common thread between El Delta, Costa del Lago, Agua Vista, Aquadelta, Highlands, Blue Lagoon and Aquabrava. Sport and wellness go from being "amenities" to being part of the central concept: 18-hole golf, professional courts, complete sports clubs and aerobic circuits that define lifestyles and communities. The mix of uses – residential, commercial, educational, corporate – is becoming increasingly sophisticated, especially in projects like El Delta, Aquadelta, Los Pingos or Highlands, where the school, the open mall or the business center are planned from the beginning. At the same time, these developments pose key challenges for public urban planning: how to support with road infrastructure, transport, basic services and regulations a private growth that outpaces the timeline of the State; how to integrate these “micro-cities” into the wider urban fabric to avoid disconnected enclaves; and how to ensure that the compact city does not lose competitiveness in the face of the appeal of gated communities. The truth is that, with their different scales, histories, and business models, these projects are already rewriting Paraguay's residential landscape. And, along the way, they are sparking a new conversation about what it means to "live well" in the country today: more space, more nature, more water, more community, and more long-term planning.

The official presentation opened the first phase of the development to the public, with its network of streets, green areas and initial buildings in operation. Wednesday night, the 26th, marked a pivotal moment for Asunción: the official inauguration of Distrito Perseverancia, a project that not only features new residences, businesses, and public spaces, but also introduces a contemporary neighborhood model designed to restore to the capital a way of life that seemed lost. The event was attended by the President of the Republic, Santiago Peña, the First Lady, Leticia Ocampos, national authorities, owners, collaborators, and clients, who joined in the formal launch of a new chapter in the city's urban life. From the outset of the master plan, the team behind the project was clear that the opening should focus on the neighborhood as a whole, not just individual buildings. Therefore, what was opened this Wednesday was the urban fabric itself: the streets, sidewalks, parks, plazas, pedestrian paths, and all the shared infrastructure, ready for use from day one without having to contend with large construction areas. In total, more than 30,000 m² of parks and plazas were opened, along with a walking circuit that runs through the heart of the development and reflects the intention to create a continuous, comfortable, and pleasant urban experience. This opening of the public space was complemented by the first commercial components of Distrito Perseverancia. During the event, the first shops, restaurants, and the Casa Rica supermarket were inaugurated, marking the beginning of a phased activation that will continue over the coming weeks. Simultaneously, the first two residential towers were handed over, while the first corporate tower began receiving tenants who are responsible for carrying out the internal renovations of their offices, with the goal of its final inauguration before the end of the year. If anything defined the project's philosophy from its inception, it was the decision that Distrito Perseverancia would not be an oasis, a modern island isolated from the rest of the city. The objective was precisely the opposite: to build a neighborhood that would act as a catalyst for a new Asunción, recovering qualities that once defined the capital. Neighborhood life, walkability, the proximity of homes to services, the ability to walk to restaurants, cafes, and shops, and the experience of a green and human environment formed the conceptual core of the plan. The idea was not to invent a new city, but to return to Asunción attributes that were always valuable and that, over time, became increasingly difficult to find. The project also considered the environmental dimension. Asunción is historically characterized by its dense tree cover and green spaces, a feature the team deemed irreplaceable. For this reason, a fundamental part of the work involved transplanting existing trees, relocating them within the project, and supplementing this base with new species to increase vegetation cover compared to the site's previous condition. This balance between architecture and nature results in a neighborhood where shade, vegetation, selected materials, and street orientation work together to create a unique microclimate, reducing the perceived temperature and promoting air circulation. Microclimate engineering guided decisions such as the choice of paving materials with low heat absorption, the wind direction the project seeks to capture, and the shaded axes that run through the development. In Distrito Perseverancia, aesthetic expressions also play a structuring role in shaping how people live in the neighborhood. Art is integrated into the urban space not as decoration, but as a living reflection of the collective sentiment, building bridges that connect people with their surroundings and strengthen the identity of the place. Through Artivation, the project incorporates installations, exhibitions, shows, and collaborations with national and international artists, making the neighborhood a constantly evolving cultural hub. This artistic vocation is further developed with the Edith Jiménez Legacy, a concept that anchors the visual DNA of Distrito Perseverancia in the memory of the Paraguayan artist and Don Pedro Zuccolillo. The neighborhood's logo is inspired by Los Troncos (The Logs), the series created by Jiménez in the late 1960s using wood from the former La Perseverancia estate. These pieces, which have been featured in international biennials and exhibitions, including the 9th São Paulo Biennial, and are part of the permanent collection of the Museum of Modern Art in New York, lend texture, symbolism, and historical continuity to the project's identity. Today, one of these original pieces has been physically incorporated into the project and can be found in Distrito, integrating this artistic legacy into the neighborhood's everyday space. The magnitude of the work that has culminated in this event becomes clear when you consider the human scale behind the project. Over these six years of development, more than 4,380 construction workers, over 650 engineers and architects, administrative and sales teams, and more than 1,500 suppliers participated, representing 14 nationalities. For those who led the project, the secret lay in not treating it as a megaproject, but rather as a collection of smaller works, where every building, every corner, and every space was designed with the same attention and care. This level of detail is evident today in the textures, the lighting, the pathways, the arrangement of the trees, and the way in which the public space is experienced. Wednesday's event also served as the venue to announce a new phase of development: the launch of Cedros, the sixth tower in the master plan. The developers hadn't expected to reach this point so soon, but market confidence accelerated the timeline. Distrito Perseverancia already has over 220 residential clients, families who will begin moving in over the next few months. It's estimated that these initial occupancies will total around 600 people, and that the first residential phases will collectively house between 1,200 and 1,400 residents. The target audience is clear: families seeking spacious homes, quality materials, and an integrated environment with services and green spaces just steps from their homes. Cedros maintains this focus, with its own distinctive architecture that harmonizes with the neighborhood's character. Wednesday the 26th was not just the opening of a space, but the public unveiling of a project that took years to design, plan, and execute. Attendees explored paths, plazas, and hidden corners where art, lighting, and vegetation revealed the philosophy behind the neighborhood. Every facade, every tree, and every path was designed to be experienced, not simply traversed, and this intention began to materialize in the everyday actions of those who walked through the development for the first time. This entire process marks a new chapter for La Perseverancia, the historic company founded in 1936 by Pedro Zuccolillo, which has evolved over decades from the forestry industry and exports to a diversified portfolio encompassing production, marketing, logistics, and real estate development. Distrito Perseverancia embodies the vision of the third and fourth generations, who have revived the innovative spirit of their founder and projected it onto a contemporary urban scale, with a project that seeks to enhance the city experience and contribute significantly to the Asunción of the future. With the neighborhood officially inaugurated and open to the public, the coming weeks will be marked by new business openings, the progress of residential moves, and final preparations for the launch of the first office tower. Distrito Perseverancia thus begins its life as a neighborhood: a space created for walking, living, community, and rediscovering the idea of urban life in Asunción. For business inquiries and details on how to acquire your residential unit in the project, you can contact Amy Acosta , official agent at Distrito Perseverancia, at +595 984 110354.

A special version of the program would allow for greater access to housing in central areas, complementing tax incentives and the revitalization plan for the historic center. The government is preparing a strategic shift in its housing and urban policy: the launch of Che Róga Porã 2.0 – Centro, a program designed exclusively for the city of Asunción, with a clear and long-postponed objective: to attract families back to the capital, facilitate access to well-located housing, and support the revitalization of the historic center. The announcement was made by the Minister of Urban Development, Housing and Habitat (MUVH), Juan Carlos Baruja. The most visible element of this new version of the program is the increase in the financing cap, which will rise from the current ₲608–609 million to approximately ₲700 million per family. The minister announced that the measure will be formalized no later than December, as part of a package of policies focused exclusively on Asunción. The decision responds to a structural market reality: the cost of land and the availability of housing in the capital has historically excluded thousands of families who qualified for the program but could not afford the prices in the city center and established neighborhoods. Baruja explained that the government's intention is "to encourage people to choose more urbanized cities," highlighting that Asunción, Fernando de la Mora, and Luque offer a concentration of services, road infrastructure, public transportation, and amenities that reduce the cost of living and improve urban quality. However, Asunción faces an additional challenge: the progressive depopulation of its historic center, a decades-long process that the government is now seeking to reverse through tax incentives, new housing projects, and a pilot social rental program. The 2.0 version of the Che Róga Porã Center is not an isolated initiative. It is part of a broader agenda promoted by the Office of the First Lady of the Nation and the Municipality of Asunción, which includes a reduction in property taxes in the city center starting in January 2026, a measure already approved by the Municipal Council. This tax policy represents one of the most direct and tangible incentives for attracting residential real estate developments, and it is already beginning to show its first effects: in December, a developer will begin construction on an apartment tower located just three or four blocks from the Port of Asunción, which, if its construction is confirmed, could become a catalyst for new investments in the area. The government aims to expand this type of project. The minister stated that the program is designed to "enable more families to move into and access the city and its services," emphasizing that the city center is one of the areas where urban infrastructure is already in place: established streets, transportation networks, proximity to public institutions and educational establishments, and a cultural and commercial offering that, although weakened in recent decades, maintains significant urban potential. One of the most relevant, and perhaps least discussed so far, announcements is the preparation of a social rental system, which will be included in the 2026 budget. The proposal consists of granting a direct subsidy to families who decide to live in the center of Asunción, a model used in cities in the region to reoccupy strategic urban areas and avoid peripheral expansion. Although the technical details are not yet known, its inclusion in the budget policy indicates that the Government seeks to combine buying and renting within the same programmatic umbrella, reinforcing the idea that repopulating the center is a national priority. In terms of scope, Che Róga Porã 2.0 Centro will rely on the initial USD 100 million available, enough, according to the minister, to finance approximately 4,000 housing solutions. However, the Ministry of Urban Development and Housing (MUVH) and the Development Finance Agency (AFD) are already managing additional lines of credit to double or even triple the program's capacity, reaching between 8,000 and 10,000 homes. If implemented, this would represent the largest urban housing policy effort of the last decade. The program maintains its general conditions: rates starting at 6.5%, terms of up to 30 years, and availability through all participating financial institutions. Loans for expanding or completing existing homes also continue to be available. Beyond the appeal of the incentives and the expansion of the financing cap, a key question remains for the real estate sector: are citizens ready to take on long-term debt and adopt mortgage credit as a regular mechanism? For decades, the lack of mortgage credit was one of the biggest shortcomings of the Paraguayan real estate market. Now that a robust financial tool finally exists, the question shifts to demand: Will there be enough economic confidence and family stability to take out 20- or 30-year loans? Will the investment culture and preference for cash purchases or off-plan units continue to prevail? The performance of Che Róga Porã 2.0 Centro during 2026 will be decisive in measuring whether the Paraguayan mortgage market is ready to mature. The launch of this urban version of the program marks a pivotal moment. If it can be successfully integrated with the Ministry of Public Works and Communications' projects in the Historic Center, the roadmap of the "Asunción 500 Years" Commission , and the reduction in property taxes, it could signify the beginning of a repopulation cycle that alters the real estate dynamics of the capital, driving not only new developments but also increased demand in surrounding neighborhoods, commercial revitalization, and a more efficient use of existing urban infrastructure. Asunción, a city with decades of demographic stagnation, could finally enter a new cycle where living in the capital becomes an accessible aspiration once again, rather than a privilege restricted by the price of land.

A small market in scale, but one of the fastest-growing: Asunción is repositioning itself in the region with new corporate centralities, rising prices, and internationally benchmarked projects. The corporate office market in Latin America is at a decisive turning point in 2025. After several years of adjustment and reconfiguration following the pandemic, the region is finally showing clear signs of a new growth cycle, with more dynamic absorption, recovering prices, and demand that is once again prioritizing quality, sustainability, and operational efficiency. According to JLL's Latin America Office Market Report , the technical basis for this analysis, the continent's major capital cities have moved beyond the correction phase and are now entering a stage marked by increased competition among submarkets, consolidation of strategic hubs, and a renewed appreciation for workspace as a tool for attracting talent. Although companies are regaining more stable positions in their portfolios, new supply has not yet fully kept pace with the recovery of key indicators, resulting in a slowdown in the emergence of new projects across the region. Nearly one in four square meters of office space is located in Mexico City. Adding the next two largest markets, São Paulo and Santiago, reveals that they account for 50% of the region's total office space supply. Net absorption grew 50% year-on-year, driven primarily by the São Paulo and Mexico City markets. In virtually all the capital cities analyzed, a clear trend is evident: the return to the office is now a well-established process throughout the region. Competition today revolves around which buildings offer the best experience and how each company leverages its real estate portfolio as a tool to attract talent. Simultaneously, Latin American markets continue to register gradual declines in vacancy rates, reflecting more active demand and the absorption of available space. In this demanding regional context, Paraguay presents a unique case. With an inventory of just 278,000 m², Asunción is one of the smallest markets in the region, but also one of the fastest growing. According to the JLL report, 28,000 m² will be added between 2025 and 2026, equivalent to 11% of the current stock, and projects in advanced planning could increase supply by at least an additional 70,000 m² over the next five years. This proportional rate of expansion places Paraguay ahead of several mature markets that already operate with stabilized inventories and less capacity for physical growth. In addition to the difference in scale, there is a geographical difference. While cities like Santiago, Bogotá, and Mexico City have extensive networks of consolidated submarkets, Asunción still maintains a high degree of concentration: 88% of the inventory is located in Aviadores del Chaco and Villa Morra. However, the market is already showing signs of transitioning to a broader cycle, with new developments moving westward and the arrival of more technically sophisticated projects, including the first corporate building designed locally by Norman Foster's studio. This expansion and diversification mark a turning point in Asunción's urban and corporate structure, which is beginning to align with the growth patterns previously seen only in large-scale markets. Prices reflect this transformation. In the year-over-year comparison, Asunción saw the largest increase in Class A rents in the entire region: a 23.6% growth, rising from USD 14.8/m²/month to USD 18.3/m²/month. This places the Paraguayan capital above several cities with older markets, such as Lima, Rio de Janeiro, and San José, and brings it closer to the values typical of premium corridors in Bogotá, Guadalajara, or even Santiago. This is a remarkable positioning for a city whose market, until a few years ago, competed primarily on price rather than differentiating attributes. Meanwhile, the region presents critical opportunities that also have repercussions for Paraguay. Unmet demand for flexible workspaces has already reached 2.3 million square meters across Latin America, a sign that flexibility has moved beyond a tactical solution to become a structural component of corporate portfolios. Sustainable buildings, for their part, are registering 12% higher occupancy rates and rents 8 to 15% higher than traditional assets, revealing a clear preference for products that reduce operating costs and improve employee well-being. And technological integration, particularly in access control, energy efficiency, and smart services, is consolidating as a competitive advantage in more mature markets—a gap that Asunción has the opportunity to close more quickly than cities with older inventories. The vacancy rate also reveals a structural difference that favors Paraguay. While Rio de Janeiro continues with an availability of almost 29%, Buenos Aires hovers around 18%, Mexico City exceeds 19%, and Santiago stabilizes just below 9%, Asunción operates under more balanced conditions, with no signs of oversupply and with demand keeping pace with new production. The absence of a large aging inventory, a key challenge in markets like São Paulo, Bogotá, or Lima, allows Paraguay to focus on expanding its modern supply without having to face massive restructuring or devaluation processes. The regional analysis also suggests some strategic recommendations for companies with a presence or interest in Paraguay. The first is to evaluate hybrid models that combine dedicated spaces in core markets with flexible solutions in secondary markets, allowing for operational expansion without committing large fixed areas. The second is to prioritize geographic consolidation, considering that hubs with better connectivity and greater talent availability maintain significantly higher absorption rates. And a third is to integrate sustainability and technology as key decision-making pillars, given that their effects on productivity, energy efficiency, and operating costs are already measurable and constitute a clear competitive advantage in all the markets analyzed. The outlook for 2025-2027 points to sustained growth across the region, although with differentiated dynamics between mature markets, which are entering a cycle of renewal and modernization, and emerging markets, where new offerings are being built to international standards from the outset. Paraguay, due to its size and stage of development, clearly belongs to this second category: a young, agile market with room to grow and a quality of projects that no longer competes with the region from a peripheral position, but rather as an actor consolidating its own modernization model. This article is based on data from JLL's "Latin America Office Market Report - November 2025," which analyzes 15 corporate markets in the region.

As the Paraguayan market enters a more mature stage, various developers are beginning to evaluate a model where gyms, wellness spaces, restaurants and other common areas could be operated by specialists, offering higher quality and a lower maintenance burden for residents. Paraguayan real estate development is entering a phase where questions about how people live, how common spaces are used, and what buyers truly expect are becoming as important as the architectural design itself. In this process, some developers are already exploring a model that could make a difference in the coming years: the incorporation of outsourced amenities, operated by specialists, within the building itself. This is an idea that is gaining traction in more mature markets in the region and is slowly beginning to appear in strategic project discussions in Asunción. For a long time, the building's gym was a space conceived almost by default: a small room with few machines and a proposal that, in practice, had limited use. This conventional format presents an obvious dilemma: the resident ends up paying for a space that doesn't always meet their expectations, while the building assumes the entire cost of its maintenance. Given this scenario, a conceptual shift is being considered. What if, instead of a basic gym, the building featured a space operated by a specialized third party, with commercial-grade equipment, available trainers, and service comparable to that of a professional gym? The idea has surfaced in technical discussions as a potential approach for projects seeking to add value without increasing maintenance costs. In this model, residents gain access to a professional service just steps from their apartments, while the building reduces its maintenance responsibilities and ensures a quality standard difficult to achieve internally. A similar logic applies to other spaces. Restaurants on the ground floor or upper levels, not owned by the building's management but operated by distinct culinary brands, offer an alternative to multipurpose rooms that are often underutilized. This idea, which is gaining traction among some developers, could transform certain buildings into vibrant spaces, bringing activity to the urban environment and enhancing the experience of residents. It's not just about having a restaurant nearby, but about having a professional operator whose presence elevates the aesthetics, service, and overall feel of the space—something difficult to achieve with in-house management. Kessel Restaurant at Petra Tower Expanded concepts are also beginning to be explored: wellness areas managed by wellness specialists, coworking spaces operated by flexible office firms offering memberships tailored to residents, children's clubs with trained staff, and even event management services for common areas. These ideas are appearing with increasing frequency in conversations about future projects and reflect a clear intention: to move from having "available spaces" to having "real services with guaranteed use." Behind these explorations lies a shared motivation: the search for a balance between quality of life and cost-effective maintenance. When an external operator takes over the management of a service, the building not only avoids expenses but also secures professional expertise that can become a competitive advantage. Expenses become more predictable, while the project offers greater value without resorting to maintenance increases that are difficult to justify. Interest in this model also aligns with what is observed in other capital cities in the region. In markets like Santiago, Bogotá, and Buenos Aires, buildings that integrate services operated by third parties have demonstrated higher occupancy rates and a more robust residential experience. In Paraguay, this approach is still in the analysis and early adoption stage, but its mere presence in strategic discussions indicates a trend that could solidify as buyers become more demanding and the market more competitive. Ultimately, the conversation revolves around a single point: how to offer a higher quality of life without increasing the building's operational burden. Exploring the outsourcing of amenities could be one of the answers to this challenge. Fewer underutilized spaces, more professional services; less improvisation, more continuity; less pressure on maintenance fees, more perceived value. If this trend takes hold in the coming years, it could redefine how residential projects are conceived in Paraguay, giving way to a model where the resident experience is built not only on design, but also on the actual quality of the services that are part of their daily lives.

A market that is leaving behind its emerging status and moving towards a cycle where competition, design, execution, and conceptual clarity determine which projects become established in a more informed, professional, and demanding environment than in previous years. The Paraguayan real estate market enters 2026 with a series of transformations that had already been developing, but which this year are finally consolidating into a structural change. Increased demand, the professionalization of stakeholders, geographic diversification, and pressure on costs and prices are creating a more competitive landscape, where project quality and conceptual clarity matter more than ever. Price per square meter on the rise in Asunción The upward trend in prices per square meter in Asunción will likely continue through 2026. Rising land costs in high-demand areas, inflation in construction materials, the gradual increase in labor costs, and the professionalization of construction companies are all driving sales prices upward. This is further compounded by a natural market maturation cycle: Asunción is no longer an emerging market where prices were artificially suppressed, but rather a market that is slowly beginning to align itself with regional capitals. However, the buyer of 2026 will no longer accept just any price in any location. The market is becoming more selective and more informed. Projects with poor urban integration, low-quality amenities, repetitive building types, or unclear concepts are beginning to face resistance in the pre-sale phase. Conversely, projects with good locations, solid design, usable amenities, and established developers are maintaining, and in some cases improving, their value per square meter. This opens up an increasingly evident scenario of "two Asunciones": on the one hand, the city that pays the price of its consolidation, Villa Morra, Carmelitas, Recoleta, Trinidad, Las Lomas, where the revaluation is sustained; and on the other, sectors where the supply has multiplied without a differentiating concept and where pre-sales begin to depend on discounts, aggressive promotions, extended payment plans or temporary benefits. The most important consequence is that 2026 may be the year in which the difference between the asking price and the final closing price becomes most apparent. Projects with a sound product strategy, a good understanding of the user, and a strategic location will maintain their value. Those without will have to readjust their expectations. For investors and buyers, the message is clear: the price is no longer determined solely by the neighborhood, but by the overall coherence of the project. Quantitative leap between experienced and inexperienced developers As the market becomes more complex, the gap widens between developers with a proven track record, professional teams, access to institutional financing, and robust processes, and those undertaking their first or second project without a solid structure. What was once a "technical" difference will become a visible one by 2026, with a direct impact on pre-sales speed, construction quality, on-time delivery, and the final customer experience. Established developers achieve better financial terms, manage timelines with fewer deviations, provide clear documentation, and have stable teams. This allows them to maintain a more reliable project pipeline and cultivate a reputation that translates into buyer confidence. Conversely, emerging or inexperienced developers face greater difficulties: more expensive financing, slower pre-sales, projects with cost variations that are difficult to absorb, teams without defined processes, and after-sales problems that damage the brand's image. In a market where information is shared rapidly, these shortcomings no longer remain hidden. The impact on investors is clear: who is behind the project matters more and more. The developer's name is becoming an indicator of risk, quality, and long-term stability. And in 2026, with a more sophisticated market and fiercer competition, that difference will be crucial. Improvement in customer service and shopping experience If anything defines 2026, it's the widening gap between those who professionalize the buying experience and those who remain in an improvised mode. Buyers—local, foreign, or institutional—arrive at meetings with a level of information that was unthinkable five years ago: they compare square footage, calculate maintenance fees, check developer references, analyze construction phases, verify permits, and ask about issues that weren't even on the sales script before. This evolution is forcing sales teams to raise their technical level and improve their responsiveness. The processes of contact, follow-up, information delivery, booking, signing, and after-sales service are no longer just behind-the-scenes; they've become integral to the product. For the client, the experience doesn't begin at the construction site or end with handover: it starts with the first message and continues throughout the building's management. Improvised service, unanswered messages, broken promises, and confusing information have no place in a market where reputation is managed through WhatsApp and investor groups. Companies that invest in CRM, lead tracking, clear communication scripts, post-visit follow-up, and professional presentation materials—from digital brochures to well-produced virtual tours—are starting to gain traction. Customers value clear processes: receiving the right information from the outset, understanding exactly what they are buying, knowing realistic timelines, and knowing what to expect at each stage. Transparency is becoming a key selling point, and clear processes are a factor that shortens the pre-sales phase and significantly improves conversion rates. Customer service and after-sales support are no longer optional extras but strategic assets. In a more competitive market, the complete experience, from initial contact to handover of the keys, makes all the difference between a project that sells smoothly and one that requires constant promotions to attract buyers. Professionalizing this stage not only improves sales but also builds trust, fosters customer loyalty, and directly impacts the developer's ability to sustain their pipeline long-term. Buildings designed for a particular niche Another strong trend for 2026 is specialization. The market is moving away from the idea of a "building for everyone" and towards projects conceived from the outset for a specific audience, with offerings that respond to concrete lifestyles and increasingly differentiated expectations. This segmentation arises both from real demand and from the need for developers to build products with their own identity in a market where generic offerings no longer convince. Projects are emerging that cater to young professionals seeking compact units with excellent functional amenities and a strategic location; buildings geared towards students, especially in areas with educational institutions and good urban connectivity; properties for young couples who prioritize services such as coworking, gyms, and terraces; developments designed for families with young children, featuring common patios, games, real green spaces, and larger units; and even proposals focused on senior citizens, with criteria of accessibility, security, and operational support. Segmentation is also evident on the investor side. There's a growing number of buildings designed for managed rentals, featuring standardized units, centralized operations, cleaning and maintenance services, 24/7 problem-solving, and hybrid models combining traditional and short-term rentals. Simultaneously, projects are emerging that cater to digital nomads, business travelers, and those seeking a flexible lifestyle, offering true coworking spaces, high-speed internet, common areas with extended hours, and amenities that operate during the workday. This niche approach impacts every decision in the project: from square footage, interior layout, and materials, to the lobby's aesthetics, the selection of amenities, and the rental management model. The building ceases to be merely a collection of apartments and transforms into a coherent lifestyle proposition, designed for a segment with defined expectations. Amenities By 2026, the conversation about amenities will move beyond a decorative list in the brochure and become a central element of the value proposition. The market will begin to distinguish between amenities that truly support rental and resale prices and those that are purely marketing ploys and remain underutilized. This shift is a direct result of more demanding buyers and increased competition among projects that often target similar segments. This pressure is forcing developers to move beyond the "basic package" and justify why each space exists, what need it fulfills, and how it integrates into the resident's daily life. The trend is also driven by the reality of expenses: users are becoming more cost-conscious, so simply adding square footage without a clear purpose is no longer enough. Instead, efficient amenities, designed for professional operation and sustainable long-term maintenance, are valued. A gym is not just a gym: it must have quality equipment, adequate ventilation, a layout designed for different types of training, and operating hours that align with the work schedules of its target audience. Coworking spaces, meeting rooms, shaded terraces with good orientation, interior courtyards with real vegetation, semi-covered areas usable year-round, and barbecue areas that function as an extension of the apartment are beginning to establish a new standard. We're even starting to see the outsourcing of certain spaces, a step typical of more mature markets: gyms operated by specialized brands, cafes run by restaurant operators, or wellness spaces managed by third parties. This model guarantees quality, real-world use, and operational continuity without unnecessarily burdening the neighbors. In short, well-designed amenities are evolving from aspirational embellishments to essential infrastructure. They are no longer merely decorative, but rather the component that determines whether a small apartment functions, whether a rental income is sustainable, and whether a project can compete in a market where users compare every detail. More mixed-use projects Mixed-use projects are emerging as one of the most robust responses to the new way of living in the city by 2026. Proposals that combine housing, offices, medical practices, ground-floor retail, and public or semi-public spaces are beginning to differentiate themselves from single-use buildings. The logic is clear: to reduce travel times, concentrate services, generate a steady flow of people, and, at the same time, build urban identity in contexts where mobility is becoming increasingly complex. For years, this type of development focused almost exclusively on megaprojects capable of supporting diverse functions without compromising the overall operation. Examples such as Paseo La Galería, More Mariscal, Distrito Perseverancia, and Palmanova Center demonstrated that when uses are properly integrated, the project gains vitality, resilience, and greater real estate value. However, 2026 marks a turning point: this approach is no longer limited to large complexes and is beginning to extend to mid-sized projects, especially in Villa Morra, Las Lomas, Recoleta, and emerging areas of the AMA (Metropolitan Area of Buenos Aires). Buildings that historically would have been 100% residential now integrate internal coworking spaces, curated restaurants, medical offices, micro-offices, and local services that function as extensions of the apartment. This shift responds both to user demand, which seeks to manage daily life within short distances, and to the increasing sophistication of investors, who understand that a suitable mix of uses improves occupancy, diversifies returns, and generates a more stable flow of people. It also becomes a differentiating factor in markets where residential projects abound without a clear conceptual framework. For developers, the challenge shifts to urban and operational design: choosing which businesses to add, how different uses will coexist, which circulation routes should be separated, how parking will be managed, and what level of commercial curation will sustain long-term value. The "put any store on the ground floor" model is no longer viable. The selection of tenants becomes a strategic decision that defines not only the resident's experience but also the perception of the project within its surroundings. In short, mixed uses are no longer the exception for large complexes: they are beginning to become the norm for projects seeking to differentiate themselves in a more competitive market focused on urban experience. Growing demand for Class A offices The arrival of multinationals and international companies is generating clear pressure in the Class A office segment. Unlike more mature markets, where hybrid work has reduced demand, in Paraguay the establishment of new firms, the professionalization of the technology and financial sectors, and the consolidation of regional companies are driving a search for high-quality spaces to support the operational expansion of these companies. The market is beginning to demand offices that meet environmental certifications, have efficient floor plans, flexible layouts, higher-performing HVAC systems, controlled access, on-site cafeterias, technologically equipped meeting rooms, and global connectivity standards. At the same time, location is once again a determining factor: corporate corridors such as Aviadores del Chaco, Santa Teresa, Villa Morra, and emerging areas of Trinidad and La Recoleta are experiencing the highest demand, while other areas of the city are beginning to fall behind. The pressure is also coming from Paraguayan companies, which are beginning to compete for talent with global firms. Brighter, better-ventilated spaces with integrated services and ergonomic design are no longer a luxury, but a key factor in employee retention. In this context, several developers are beginning to reinterpret the post-pandemic office concept: smaller but better-designed spaces, flexible areas, collaborative spaces, and technological solutions implemented from the design stage. The result is a market that, far from shrinking, is beginning to segment: low-quality offices are losing competitiveness, while well-executed Class A spaces maintain high occupancy and appreciation. By 2026, the trend indicates that demand will shift toward buildings with solid infrastructure, professional management, and integrated corporate services, aligning Asunción with international standards. Encarnación and Ciudad del Este: Encarnación and Ciudad del Este are poised to solidify their positions by 2026 as the two major centers of real estate expansion outside the Greater Asunción area, each with its own distinct dynamics. Encarnación continues to leverage its waterfront, tourism, and a more relaxed lifestyle: apartments with views, gated communities, and projects that blend second homes with rental investment. The debate centers on how to create a city that attracts investment without sacrificing scenic quality or resorting to seasonal use of its real estate stock. Ciudad del Este, for its part, is increasingly emerging as a regional urban and commercial hub. The densification of neighborhoods like Area 1, the development of residential and office projects, the expansion of commerce, and, in the medium term, improved connectivity with Brazil and Argentina, are creating opportunities for mid-range housing, rental buildings, and mixed-use projects. The challenge in both cities will be to coordinate real estate development with infrastructure, mobility, and planning, so that growth is not merely quantitative. Diversification into logistics centers, industrial warehouses and data centers The expansion of the real estate sector towards logistics centers, industrial warehouses and data centers is becoming one of the most relevant trends of 2026. The growth of international companies, the consolidation of Paraguay as a regional platform and the industrial dynamism of the East of the country generate a new axis of investment that until a few years ago was marginal within the sector. In Greater Asunción, the need for logistics space is heightened by two factors: the increase in trade and the restrictions of Asunción's Regulatory Plan, which limits warehouses and logistics activities within the city limits. This naturally drives operators to migrate to Luque, Mariano Roque Alonso, Limpio, and surrounding areas, where land is more affordable, road access is better, and there is room for larger-scale developments. This shift also opens up opportunities for planned logistics parks, with adequate infrastructure, security, cargo flow management, and integrated service offerings. Paraguay still lags behind the logistics park standards of neighboring countries, leaving considerable room for developers capable of creating high-level projects, even with the participation of institutional funds. Meanwhile, Ciudad del Este and Hernandarias are emerging as strategic hubs for data centers and projects related to technological infrastructure. The availability of energy from Itaipu, stable electricity costs, proximity to Brazil, international connectivity, and tax advantages position this region as one of the most competitive in the Southern Cone for these types of investments. What was once associated solely with cryptocurrency mining is now being reshaped towards corporate data centers, hybrid cloud infrastructure, and services for technology companies seeking to expand in the region. This phenomenon not only redefines the country's industrial and technological real estate map, but also introduces new technical standards: electrical redundancy, specialized cooling systems, physical and logical security, and regulations that until now were not part of the daily lives of most local developers. In summary, 2026 marks a shift in the sector towards more sophisticated products, highly demanded by modern supply chains and by technology companies that are betting on Paraguay as a growth hub. The first leaps into AI The first steps toward artificial intelligence in the Paraguayan real estate sector will be visible in 2026, although still in an initial phase. Adoption begins in areas closer to marketing and sales management: database segmentation, automatic lead classification, user behavior analysis, prioritization of prospects with a higher probability of conversion, and generation of personalized marketing materials. Chatbots handle basic inquiries 24/7, allow users to schedule appointments, send project materials, and can even apply simple filters to distinguish between a casual customer and a genuinely interested party. This frees up time for sales teams and improves response time, a key factor in an increasingly competitive market. Gradually, AI will begin to be integrated into more technical stages: automated reading of municipal regulations, real-time comparative price analysis, simulations of building types, optimization of square footage, predictive demand calculations, cap rate estimation, early detection of delinquency in rental portfolios, and support in building management. Even after-sales service can benefit from systems that detect complaint patterns, predict problems, and help organize preventative maintenance. The key will be for companies to understand that AI doesn't replace the human team: it amplifies it. It allows for more precise work, reduces repetitive tasks, enables data-driven decision-making, and improves the customer experience. And those who integrate it seriously, not as a marketing gimmick, will have a real competitive advantage in costs, efficiency, and speed of response in a market that moves faster every year. New financial instruments for the sector Finally, by 2026, a quiet but key shift is deepening: the market is starting to talk more about financial structures than simple units. Development trusts, real estate investment funds, securitization vehicles, more sophisticated pre-sale models, and products specifically designed for small and medium-sized investors are gaining traction in the conversation. This opens the possibility for investors to move beyond viewing real estate solely as "an apartment I buy and rent out on my own" and instead participate in diversified portfolios or instruments listed on the stock market. For this to take hold, transparency, appropriate regulation, public financial education, and clear communication from developers, agents, and specialized media will be essential. 2026 is shaping up to be a year in which several transformations already underway in the Paraguayan real estate market will begin to solidify. These are not abrupt changes, but rather a gradual evolution toward a more organized, professional sector, more attuned to the real needs of its users. Competition is becoming more technical, design decisions more deliberate, and management, from pre-sales to final sale, is gaining a level of importance it previously lacked. In this context, projects that successfully integrate location, concept, operation, and construction quality in a coherent manner are the ones that achieve the highest levels of acceptance. Increasingly informed buyers and investors consider not only the final product, but also the developer's track record, the logic behind the common areas, cost sustainability, and the long-term performance of the asset. Rather than a dramatic shift, 2026 represents a gradual market readjustment toward more demanding standards and more consistent practices. It's a stage where conceptual clarity, planning, and the ability to respond to a maturing urban and economic environment prevail. In this context, the projects that best understand the current moment won't necessarily be the largest, but rather those that precisely adapt to the new way of living, investing, and operating in Paraguay.

A collective reflection on infrastructure, financing, urban planning and the role of the sector in the new cycle of real estate growth. On November 19, CAPADEI convened its members at the Hotel La Misión for a new edition of “CAPADEI Dialoga 2025”, an internal conversation space that seeks more than a simple assessment of the current situation: to define together what the work axes of the guild will be in a context where the real estate sector has been successful, but operates on a fragile base in terms of infrastructure, financing and public policies. In addition to its institutional role, CAPADEI is today a space that brings together a broad and diverse set of actors in Paraguayan real estate development. Its members include established companies representing different scales, approaches, and trajectories within the sector: ZUBA, Altius Group Paraguay, Urbanica Bienes Raíces, Habitalis, Matrisa Desarrollos, Altamira Group, Raíces Real Estate, Vivabien, Genus, Aquino+, Insignia, AZ Inversiones, EYDISA Desarrollos Inmobiliarios, Urban Domus, Creo Inmuebles, Salum & Wenz, CCI, Acostruir, San Gerardo Inmobiliaria SA, Escala Desarrollos, Fortaleza, Eminent, Gómez Abente, Petra Urbana, Grupo Barcelona, Paraguay Development, Blue Tower Ventures, Tierra Alta, GONU Desarrolladores Inmobiliarios, Julio César Delgado Arquitecto, Miaterra, Romanach Mercado Arquitectos, Itasã, Arq. Gustavo Masi Constructora SA, Inmobiliaria del Este SA, Constructora Gómez Núñez SA, Blok SRL, Codas Vuyk, and AGB forms a business ecosystem that encompasses everything from large-scale developers to firms specializing in architecture and construction. This diverse group is part of the association's differentiating value: the ability to bring together different perspectives under a common agenda, strengthening the sector's representation in the public discourse. One of the major objectives for next year is to solidify CAPADEI's position as a leading player in building a safer and more reliable environment for the growing wave of foreign investment and migration currently impacting the real estate market. Paraguay has become an attractive destination for both investors and families who choose to settle and start businesses in the country, and the association understands that this influx should not be seen merely as a temporary business opportunity, but as a structural phenomenon that can redefine the urban economy and social fabric. The association's roadmap includes working on quality standards, transparency mechanisms, and potential seals or certifications to distinguish developers with sound and sustainable practices, so that investors, both local and foreign, perceive the formal market as an orderly, predictable space aligned with best practices. The goal is not only to protect capital, but also to safeguard the reputation of the sector and the country as a destination for real estate investment. The association's agenda for next year also centrally incorporates discussions on infrastructure and urban planning. CAPADEI understands that the success of real estate development in recent years has often been built "in spite of" existing infrastructure, not "thanks" to it. The Chamber aims to move beyond simply noting deficiencies, insufficient energy for new projects, drainage and sewage systems stretched to their limits, deteriorated streets, a lack of transportation solutions, and a degraded historic center, to formulating concrete intervention proposals. Among its objectives are promoting area revitalization models, fostering responsible densification schemes, and collaborating on the design of technical criteria for future ordinances that prevent tax or regulatory decisions disconnected from the logic of sustainable urban development. The underlying vision is clear: without infrastructure and planning, real estate growth loses sustainability and limits its capacity to continue generating well-being and economic value. In terms of financing, CAPADEI aims to strengthen its role as a facilitator between the private sector and public and financial institutions. The Chamber does not operate on the premise that “there is no credit,” but rather that current models are not achieving the necessary reach and scale to transform access to housing and stimulate domestic demand. The strategy for 2026 includes promoting effective working groups with the Ministry of Housing, the AFD (Development Finance Agency), the banking system, and other organizations to redesign credit instruments, review caps, terms, and guarantee schemes, and explore solutions such as more flexible financing structures, mechanisms for recovering properties, and models inspired by successful international experiences. The goal is to contribute to an ecosystem where developers, banks, and the government share a common vision on how to scale housing and real estate development financing without shifting excessive risks to any of the parties. CAPADEI also considers strengthening inter-sectoral coordination and the capacity for joint influence on public policy a priority. For next year, the Chamber seeks to move towards greater collaboration with other corporate actors in the construction, banking, supplier, and related services sectors. The intention is that major discussions—urban infrastructure, housing credit, incentives for formalization, construction regulation, and investor protection—will be addressed from a shared agenda, rather than from isolated positions. From this perspective, the union of trade associations is not conceived as a partisan political front, but rather as a technical and sectoral platform capable of proposing solutions, challenging inefficient models, and supporting the government in designing policies more aligned with market realities and the needs of cities. The meeting concluded with a reflection on the sector's role in the Paraguayan economy and society. Real estate development has not only generated buildings and new neighborhoods; it has also boosted entire value chains, strengthening suppliers, incorporating new materials, creating skilled jobs, and contributing to modernizing the country's urban landscape. However, this success comes with a responsibility: it is not enough to continue building against all odds; it is necessary to focus on the quality of the city, the infrastructure that supports it, the formalization of the market, and the protection of investors who invest in real estate. “CAPADEI Dialoga 2025” made it clear that the industry is aware of the challenges, and that the major challenge for next year will be to transform this shared assessment into a concrete roadmap, with less fragmentation, more information, greater coordination, and solid proposals that can be jointly presented to the authorities and society.

An urban vision articulated between institutions, technical criteria and cultural actions marks the beginning of the greatest historical and heritage recovery of Asunción in decades. The National Commission “Asunción 500 Years” held its Fifth General Coordination Session with an increasingly defined roadmap for the urban, historical, and cultural legacy that Paraguay will deliver to its citizens in 2037. At this meeting, the Ministry of Public Works and Communications (MOPC), the National Secretariat of Culture (SNC), the Municipality of Asunción, the Office of the First Lady (OPD), and multilateral organizations presented a joint progress report on works, technical guidelines, and projects that seek to structurally transform the Historic Center and prepare the capital for its fifth centenary. The Commission, led by the First Lady of the Nation, Leticia Ocampos, has established itself as the primary institutional forum where public policies, technical criteria, and multi-sectoral initiatives converge to shape the future of the historic center. This effort represents a profound shift from the isolated interventions of the past: for the first time, work is being carried out under a coordinated, phased vision with a comprehensive approach that combines urban infrastructure, heritage restoration, social revitalization, and citizen participation, recognizing that the revitalization of the Historic Center must be as much physical as cultural. During the session, the Ministry of Public Works and Communications (MOPC) presented the Historic Center of Asunción Subcomponent of the Urban Resilience Improvement Project, along with the official launch of the new Urban Design Manual for the Historic Center, considered one of the most important technical instruments of recent years. This manual goes beyond simply proposing aesthetic improvements: it establishes mandatory standards that will govern all public and private works in the area, with the aim of ensuring coherence, urban continuity, universal accessibility, and an architectural identity that respects heritage. Its definitions cover street and sidewalk typologies, permitted materials, corners and pedestrian crossings, street furniture, green infrastructure, sustainable drainage, and landscape criteria, in addition to strict guidelines for interventions on heritage buildings and spaces of high civic value. In parallel, the Ministry of Public Works and Communications (MOPC) announced that the Historic Center will receive an initial investment of USD 10.5 million to revitalize strategic corridors and emblematic spaces. The Paraguayo Independiente Civic Corridor, Plaza Uruguaya, Plaza Mayor, and Plaza de los Desaparecidos will be the first areas targeted for improvement, along with the restoration of the Railway Station. Furthermore, a number of key buildings will be prioritized due to their institutional and heritage significance: the López Palace, the National Police Headquarters, the Metropolitan Cathedral, La Providencia School, the México-Mcal. Estigarribia axis, and various civic connection points. This initial phase lays the foundation for a high-quality urban corridor, capable of integrating pedestrian mobility, public use, cultural activities, and a restored environment that will also encourage private investment. To consolidate a comprehensive assessment, the National Secretariat of Culture, the Ministry of Public Works and Communications (MOPC), the Ministry of Economy and Finance (MEF), and the Municipality presented an updated inventory of completed, ongoing, and planned works, prepared with support from the Office of Heritage Design (OPD). The survey includes more than 40 heritage buildings and spaces, an unprecedented number that demonstrates the magnitude of the ongoing historical updating process. The completed works demonstrate a sustained momentum in building restoration. The comprehensive restoration of the Palacio Alegre as the headquarters of the Ministry of Economy and Finance, the revitalization of the Staudt Building to house cultural offices of the National Secretariat of Culture, and the enhancement of the Ueno Bank Palma building are in addition to interventions at the Casa Ardissone, the Palacete Netto, Italianate-style houses, the Bar Nacional, commercial buildings on 25 de Mayo Street, the historic house on Humaitá Street, the Cusmanich Workshops, and sensitive areas of the Port of Asunción. These actions, many financed through mixed public-private schemes, set a precedent for the revitalization of the historic center as a residential, administrative and cultural space. In addition to these completed projects, more than fifteen works are currently underway, consolidating a vibrant heritage corridor. Among them are the conservation of the National Archives of Asunción and the first phase of improvements to the House of Independence, both spearheaded by the National Secretariat of Culture (SNC). Progress is also being made on the conversion of the Port Warehouses for gastronomic and cultural use, the restoration of the Hotel Embajador, the Duarte Mansion, and the Armed Forces Cooperative building. The Paraguayan Independent Axis and the Plaza de Armas are undergoing archaeological and restoration work, while Caballero Park is in the executive design phase. The Victoria Cinema, although currently on hold, is part of the strategic inventory and has defined technical protocols. Together, these projects are revitalizing urban life in historic areas whose renewal has never before progressed in such a simultaneous and coordinated manner. The projected timeline for 2025–2037 includes a package of interventions aimed at consolidating a fully restored Historic Center. The restoration of La Recova through the Tekorendá–Itaipu Program, the rehabilitation of the Patri Palace, the North Courtyard of the Municipal Theater, and the Heyn, Zanotti, and Ligier mansions are among the priorities. Interventions are also planned for CAPASA (the municipal water and sanitation company), the Serafina Dávalos House, the former brewery, and the former Segundo Ybarra yerba mate factory, in addition to a project to repurpose the National Police Headquarters as a civic museum, returning to the public one of the most symbolic buildings in the country's contemporary history. The restoration of the Railway Station is progressing based on defined technical studies, while the Ministry of Public Works and Communications (MOPC) and Itaipu are planning the comprehensive restoration of the Metropolitan Cathedral, a project of great importance to the spiritual and architectural heart of the city. Many of these projects already have consolidated technical reports and are in the critical stage of securing funding. A central aspect of the strategy is the social and cultural component driven by the Office of the First Lady. Under Leticia Ocampos' leadership, initiatives like the Palmear Fair have revitalized Palma Street and encouraged new private investment in restoration, demonstrating that the recovery of the Historic Center cannot be limited to infrastructure projects. The agenda complements the physical work with community engagement activities, including Palma Brilla (Palma Shines) and Navidad Florece en Paraguay (Christmas Blooms in Paraguay), which have brought family life back to the city center and fostered a sense of ownership among residents. The Office of the First Lady also promotes historical cultural circuits such as Loma San Jerónimo, the House of Independence, and the Pantheon of Heroes, in addition to supporting the inventory, organization, and enhancement of emblematic buildings like the López Palace. This social dimension is key for urban restoration to transcend architecture and become a process of rebuilding the bond between community, identity, and public space. With all these actions, the transformation of the Historic Center is beginning to take shape as one of the most ambitious urban projects in Asunción's recent history. The coordination between institutions, the technical rigor of the new Urban Design Manual, the initial investment already approved, the magnitude of the heritage inventory, and the integration of physical works with cultural activities demonstrate a structural shift in the way the city is planned. By 2037, the Paraguayan capital could recover not only its historic buildings but also its original purpose as a civic, cultural, tourist, and community center. What is underway is not merely a series of projects: it is the construction of a legacy.

A new development that consolidates the evolution of Barrio Área 1 towards orderly densification, preserving its residential character and responding to the new housing needs of Ciudad del Este. Yesterday, CRESIA, the real estate development arm of the Codas Vuyk Group, officially launched construction on Vivo Los Naranjos, its third project in Ciudad del Este. The symbolic groundbreaking ceremony brought together executives, strategic partners, and clients, marking a milestone in the firm's expansion in eastern Paraguay. This expansion reinforces a strategy that is transforming the way people live in the capital of Alto Paraná through residential projects with a human scale, contemporary design, and high-quality construction. The choice of Barrio Área 1 as the new site for expansion is no coincidence. Vivo Los Naranjos is located on the corner of Los Naranjos and Los Guayabos streets, in one of the most established residential corridors in Ciudad del Este, a neighborhood traditionally associated with families connected to Itaipu and characterized by spacious houses and a strong residential identity. Over time, this area began to undergo a process similar to that experienced by Asunción more than a decade ago: family homes ranging from 1,000 to 3,000 square meters whose owners now face a different life cycle, with children leaving home and housing needs shifting towards more practical, efficient, and secure spaces. This demographic and urban transition opened the door to new low- and mid-rise residential developments that allow families to remain in their neighborhood, adapting to a different scale. It was in this context that CRESIA identified two key lots within Area 1, strategic enclaves that remained vacant within a consolidated urban fabric, offering services, clubs, cafes, low-traffic restaurants, and an atmosphere of tranquility uncommon in Paraguayan cities. The developer's response was immediate: to acquire both lots and design two complementary projects. The first, Vivo Los Guayabos, has a limited number of units available, reflecting strong demand in the local market. The second, Vivo Los Naranjos, is the one whose construction begins today. It is a building specifically designed to meet the real needs of the neighborhood, its residents, and the new generations seeking to remain in the area. The project is conceived as a six-story residential tower offering a product geared toward the end consumer, primarily consisting of two- and three-bedroom units ranging from 80 to 150 square meters. This proposal caters to two distinct market segments: young adults who wish to live independently within the neighborhood where they grew up and for whom purchasing a house is no longer feasible; and parents who find apartments a more functional and easier-to-maintain alternative. The architecture prioritizes warmth, functionality, and a contemporary design that integrates natural light, well-proportioned spaces, and environments designed for everyday living. A distinctive feature of the project is its commercial ground floor, with three units dedicated to essential daily services, such as a café, a pharmacy, and other local businesses that complement the neighborhood without creating an intrusive commercial flow. This integration reinforces the residential character of the area while providing convenience and added value for residents. Vivo Los Naranjos incorporates a full range of amenities designed to complement routines of relaxation, connection, and social life. The tower will feature a swimming pool with a deck, a fully equipped gym, a barbecue area, an outdoor living space under a pergola, restrooms and showers in common areas, and a children's play area. Each of these components is integrated into an architectural style that prioritizes the well-being and quality of life of families. In terms of construction, the project is estimated to take 30 months. Prices range from USD 100,000 to 180,000, not due to a luxury positioning, but rather to the spaciousness of the units and the quality of the selected materials. As the developer of the project itself, Codas Vuyk prioritizes premium materials, low-maintenance solutions, and finishes that extend the lifespan of the construction, maintaining the durability standards that characterize the firm. Gonzalo Codas, Director de Codas Vuyk y CRESIA The launch of Vivo Los Naranjos confirms the dynamism of CRESIA's model in Ciudad del Este, where it is already registering significant sales results. Vivo Los Guayabos has surpassed 90% of its units sold, and Paseo Boquerón has already sold more than 75%, indicators that reinforce the strength of this growing residential area and validate a strategy based on identifying real needs and offering products consistent with the character of each neighborhood. With over 350,000 m² developed in Asunción, Ciudad del Este, and Encarnación, CRESIA is part of the Codas Vuyk Group, which boasts more than 47 years of experience in innovation, design, and construction. This track record is now complemented by the participation of Pridelta Capital SA in the creation of this project, a partnership that combines the fund's financial and strategic vision with the group's technical and construction capabilities. In addition to joining the project as a partner, Codas Vuyk will oversee the building's construction, guaranteeing the quality standards that have defined its presence in the Paraguayan market. Vivo Los Naranjos thus represents more than just a new building: it is a piece within a broader urban vision, driving the evolution of Ciudad del Este towards models of balanced densification, orderly growth, and the development of new residential hubs. CRESIA and its partners are committed to vertical growth that not only provides infrastructure but also social and urban change: people who remain in their neighborhoods, families who find contemporary alternatives, and projects capable of bringing about that transformation. For more information, please complete the following form and the developer will contact you:

A contemporary development that combines quality architecture, spatial efficiency and a strategic location in one of the fastest growing areas of the metropolitan area. Hugo Campercholi y Kevin Bendlin CIVIS Soluciones Inmobiliarias and Mont Rouge celebrated the opening of Jardinia, a residential building located on the dynamic Luque-Campo Grande axis, at an event attended by the directors of both firms, Hugo Camperchioli and Kevin Bendlin. The opening marks another step in the consolidation of the area's urban growth, where contemporary projects are beginning to define a young, accessible residential fabric aligned with the demand of those seeking proximity to Asunción without sacrificing the tranquility of the surroundings. Jardinia presents itself as a contemporary residential development that combines quality architecture, modern design, and a strategic location strongly connected to the main corporate, commercial, and educational hubs of the metropolitan area. Its location allows residents to live in a tranquil environment, with less traffic and a more serene neighborhood atmosphere, yet with easy access to high-traffic areas such as Aviadores del Chaco, Ñu Guasu, and the Santa Teresa corridor, where transportation, employment, and services are increasingly concentrated. This balance between proximity and tranquility defines one of the project's main strengths, finding in Campo Grande a particularly attractive point of urban maturity for new developments. The building, with over 3,725 m² of constructed area, offers 54 units distributed among studios, one-bedroom apartments, and two-bedroom units. The layouts were designed to maximize functionality and comfort, with efficient floor plans that prioritize natural light, cross-ventilation in units where possible, and design solutions aimed at optimizing every square meter. This type of distribution reflects a growing market trend: compact yet well-designed properties that offer versatility for both permanent residents and those seeking investment opportunities with immediate rental income and competitive maintenance costs. The project incorporates a selection of amenities designed to enhance the daily experience with a contemporary perspective on urban living. The offering includes a panoramic swimming pool with a sundeck, a climate-controlled barbecue area with an automated grill, a fully equipped gym, a sauna, an entertainment room, a children's play area, a pet-friendly space, and a shared laundry room with drying areas, in addition to 24-hour security. This combination allows the common areas to function not only as complementary services but also as natural extensions of life within the building, responding to the new needs for residential flexibility, well-being, and everyday enjoyment. The construction quality of Jardinia is enhanced by the participation of Codas Vuyk, one of the country's most established construction companies, with over four decades of experience and a renowned technical expertise characterized by durability, meticulousness, and structural rigor. The company stands out for its focus on delivering projects that improve quality of life and provide security and peace of mind to homeowners—values that have become its defining characteristics in the market. The interior fittings were handled by Better Space, a firm specializing in smart furniture that has installed more than 250 kitchens and 550 closets in various projects. Their smart furniture offerings reflect the trend toward functional spaces adapted to contemporary living, especially relevant in compact units. Networkers was responsible for the home automation, networks, and security systems, providing technological solutions that enhance the modern experience Jardinia aims to offer. Technical oversight was conducted by FiscaPro, ensuring transparency and quality control standards from the project's inception to its completion. The opening of Jardinia coincides with a period of sustained expansion for CIVIS Soluciones Inmobiliarias, which is closing the year with 13 projects in its portfolio: 7 delivered and 6 under construction. The company also has an active agenda for 2026 that includes launching new product lines and expanding its presence in cities such as Ciudad del Este and Encarnación. Over the past 18 months, the company has spearheaded flagship projects such as Civis X, Civis XI, and Aether, all of which have seen significant market absorption, demonstrating a clear understanding of its target audience and a product strategy aligned with the evolution of the mid-range and upper-mid-range segments. In this context, Jardinia represents a significant milestone for both CIVIS and Mont Rouge. It is a project that embodies the vision of both firms: modern, accessible, well-located developments aligned with new ways of experiencing the city, with a focus on spatial efficiency, construction quality, and a value proposition that combines practicality with well-being. In a market that continues to expand into new urban centers and demands increasingly competitive products, Jardinia positions itself as an attractive alternative for urban residents seeking balance, and for investors who identify sustained growth potential in these areas.