Search this site

The Central Bank raised its GDP growth forecast for this year from 4.2% to 4.5%, while lowering its inflation projection to 3.3%. This new scenario combines stronger economic activity, stable interest rates, and controlled inflation, a context that continues to favor investment and real estate financing. Banco Central del Paraguay (BCP) The Central Bank of Paraguay (BCP) revised its outlook for the Paraguayan economy upwards when publishing the Monetary Policy Report (IPoM) for June 2026. The main change is an increase in the projected growth of the Gross Domestic Product (GDP), from 4.2% to 4.5%, accompanied by a reduction in expected inflation for the end of the year from 3.5% to 3.3%. The combination of stronger economic growth and lower inflation is particularly relevant for the real estate market. Generally speaking, it implies an environment where economic activity continues to expand without generating inflationary pressures that would force the Central Bank to tighten its monetary policy, thus preserving favorable conditions for credit and investment. The report highlights that the Paraguayan economy grew 5.8% year-on-year during the first quarter, driven primarily by services, manufacturing, agriculture, construction, and energy generation and distribution. From a demand perspective, growth was supported by private consumption, gross fixed capital formation, and net exports, while leading indicators suggest that the second quarter will also maintain positive performance. In the specific case of construction, the Central Bank maintains a projected expansion of 3.5% for all of 2026. The institution attributes the observed performance mainly to the faster pace of private construction projects and the increased demand for domestic inputs used by the sector, confirming that the activity continues to be one of the key drivers of economic growth. Another factor strengthening the outlook for the real estate sector is the evolution of credit. The Monetary Policy Report (IPoM) indicates that financing to the private sector continues to grow at a rapid pace. In May, total credit increased 15.3% year-on-year, while loans in local currency for housing remained among the most dynamic segments. Meanwhile, the General Credit Situation Survey shows that more than two-thirds of financial institutions consider the current situation favorable for granting new loans. In monetary policy, the Monetary Policy Committee decided to maintain the Monetary Policy Rate (MPR) at 5.50%, the level reached after the cuts implemented in January and February of this year. The Central Bank argued that, while fuel prices exerted some upward pressure during the second quarter, inflation remains low and expectations are anchored at the 3.5% target, allowing the benchmark rate to remain unchanged. One of the most significant changes in the report is precisely the downward revision of the projected inflation rate. The Central Bank of Paraguay (BCP) now expects the Consumer Price Index (CPI) to close 2026 at 3.3%, compared to the previously forecast 3.5%. According to the institution, the adjustment is mainly due to lower-than-expected inflation in non-energy goods, especially non-food items, while the economy continues to grow near its potential level without generating significant demand pressures. For the real estate market, this scenario is particularly favorable because it combines several factors that typically drive investment: sustained economic growth, contained inflation, stable interest rates, and a financial system that continues to expand credit. Although the Central Bank warns that external risks persist, mainly associated with geopolitical tensions in the Middle East and the volatility of energy markets, the baseline scenario remains one of an economy that maintains strong internal momentum and stable macroeconomic conditions for the development of new real estate projects.

Housing finance continues to expand in Paraguay, reaching a new all-time high. While some of the increase measured in dollars is due to the appreciation of the guaraní against the US dollar, the growth in local currency confirms that the market maintains a strong expansion. The Paraguayan mortgage market continues to deepen its development. As of the end of May 2026, the total outstanding balance of housing loans granted by banks and financial institutions reached G. 10.55 trillion, the highest level recorded to date, according to data from the Central Bank of Paraguay (BCP). Of the total, G. 10.33 trillion corresponds to banks and G. 222,337 million to financial institutions, consolidating a growth trend that has been accelerating in recent years and that accompanies the expansion of the Paraguayan residential market. Expressed at the official BCP exchange rate of G. 6,074.88 per dollar, the stock of housing credit is equivalent to approximately USD 1,737 million. The growth in housing credit was driven primarily by banks, which accounted for 97.9% of the total outstanding balance in the financial system. Finance companies, on the other hand, represented 2.1% of the market. However, it was precisely the finance companies that registered the greatest relative expansion during the period. Between December 2025 and May 2026, their housing loan portfolio grew from G. 73,001 million to G. 222,337 million, representing growth of nearly 205%. During the same period, banks increased their portfolio from G. 9.46 trillion to G. 10.33 trillion, equivalent to a 9.2% increase. While the volume remains largely concentrated in traditional banking, the evolution of finance companies reflects a greater participation of these entities in a segment that has historically been dominated almost exclusively by banks. Taking as a reference Paraguay's nominal GDP estimated by the World Bank for 2025, of USD 49.28 billion, financing destined for housing represents approximately 3.52% of the gross domestic product, a new high for the Paraguayan financial system and a sign of the gradual process of deepening mortgage credit. The figure also shows a significant advance compared to December 2025. At that time, the combined balance of banks and financial institutions amounted to G. 9.53 trillion, while five months later it exceeds G. 10.55 trillion, representing an increase of G. 1.02 trillion, equivalent to a growth of 10.7% in local currency. Measured in dollars, the increase is even more significant. The balance rose from approximately USD 1.447 billion at the end of 2025 to USD 1.737 billion in May of this year, an increase of nearly 20%. However, the difference between the two percentages is not solely due to increased lending. During the first months of 2026, the guaraní appreciated against the dollar, reducing the exchange rate from levels close to 6,585 guaraníes per dollar used for the December figures to 6,074.88 guaraníes in May. As a result, the same amount expressed in guaraníes now represents a larger amount of dollars. In other words, part of the growth measured in dollars reflects the exchange rate effect and not solely an increase in credit. However, even eliminating that factor, the expansion of financing remains significant, as the 10.7% growth in guaraníes in just five months demonstrates that demand for housing credit remains strong. This evolution also confirms a structural trend observed in recent years: the Paraguayan real estate market is increasingly dependent on a financial system with a greater capacity to channel resources toward housing. As the weight of mortgage lending within the economy increases, so does the ability of households to access housing through long-term financing and the ability of developers to sustain a residential market with an ever-expanding buyer base. Although the level of 3.52% of GDP is still considerably lower than that observed in economies with more developed mortgage markets, recent trends show a sustained process of financial inclusion and deepening. In a context of macroeconomic stability, controlled inflation, and greater competition among financial institutions, housing credit continues to consolidate its position as one of the main drivers of growth in the Paraguayan real estate market.

With an investment of USD 5.5 million, the developer delivered a 71-unit apartment building in one of the capital's historic neighborhoods. The project confirms the existence of unmet demand in established areas with a limited supply of new housing. AZ Inversiones officially inaugurated Edificio Alemania, its new residential development located on Isabel La Católica Street, between Mariano Roque Alonso and Coronel Francisco López, in the Sajonia neighborhood. The project required an investment of approximately USD 5.5 million and is part of the strategy the developer has been pursuing for several years, based on identifying established neighborhoods with sustained housing demand but a limited supply of new apartments. The developer explained that the choice of Sajonia was based on the potential it identifies in one of Asunción's historic neighborhoods, characterized by its strategic location, urban consolidation, and a housing demand that, according to the company, still does not find a sufficient supply of modern apartments. Milton Jara, Director de AZ Inversiones Proximity to the Palace of Justice is one of the main drivers of demand in the area. Many professionals, especially lawyers, seek apartments to use as offices, while others from other parts of the country need accommodation during their time in Asunción for legal proceedings. Added to this is the availability of private parking, a particularly valued feature in an area where parking is often limited. The building has nine levels and 71 residential apartments, designed with an architectural style inspired by the Bauhaus school, prioritizing functional spaces and a contemporary aesthetic. It also includes amenities for both residents and investors, such as a swimming pool, gym, zen area, coworking spaces, event rooms, barbecue area, children's play area, lobby with 24-hour reception, storage units, and two levels of parking. One of the aspects that confirmed the appeal of the project was that one of the two-bedroom apartments was rented even before the inauguration for G. 5.5 million per month, a figure that exceeded the initial projections made by the developer. Currently, only three two-bedroom units remain available. The apartments are priced at approximately USD 120,000, including parking, and the developer offers in-house financing for up to 36 months, allowing buyers to move in immediately while continuing to make payments. The execution of the work was carried out by DE Constructora, the company responsible for the construction process of the building. The selection of new neighborhoods is not solely based on a housing need. According to company executives, the determining factor is identifying areas where there is both the capacity and willingness to pay for quality real estate. AZ Inversiones recalled that it previously applied a similar strategy in neighborhoods such as Villa Morra and Los Laureles, betting on them before they concentrated the volume of developments they currently present. During the inauguration, the company also confirmed that demolition and construction of Zenith, its twelfth real estate development, will begin at the end of this month. With this project, AZ Inversiones will reach approximately 796 units developed since its founding and will surpass USD 85.5 million in accumulated investment in Paraguay when it celebrates its fifteenth anniversary in October. One of the company's key differentiators continues to be the direct involvement of its partners in each project, from the design of the units to the definition of the common areas and customer service. This process allows them to dedicate more time to the layout of the apartments and the user experience, aspects they consider fundamental to preserving the long-term value of the investment.

The decision between buying or renting a home depends less and less on a universal answer and more and more on each person's financial, family and work situation. Buying or renting a home is one of the most important financial decisions a person or family can make. For a long time, purchasing a house or apartment was almost automatically seen as the ultimate goal of financial stability. However, changes in lifestyles, increased job mobility, the growth of the rental market, and the emergence of new financing options have made the answer much more complex today. In Paraguay, this discussion takes on particular relevance within the context of an expanding real estate market, increased development of residential buildings, and a gradual growth in mortgage lending. The decision no longer hinges solely on comparing the cost of a mortgage payment with the price of rent, but rather on understanding which option best suits each buyer's or renter's life expectancy, income stability, and savings capacity. Buying a home remains, for many, a way to build wealth. Unlike renting, where the monthly payment covers the use of a property belonging to someone else, buying allows each installment to gradually contribute to acquiring your own asset. Furthermore, it offers greater housing stability, protects against potential rent increases, and reduces exposure to currency risk in cases where rent is agreed upon in dollars while income is received in guaraníes, or vice versa. Added to this is the possibility that the property will appreciate over time if it is well-located and maintains its quality. This logic is especially attractive for those who plan to stay in the same city or area for several years, have relatively stable incomes, and can afford a down payment. In these cases, the purchase can serve not only as a housing solution but also as a long-term asset investment. An apartment or house can later become a source of rental income, an asset for resale, or a store of family value. However, buying also involves significant commitments. In addition to the property price, there are notary fees, taxes, maintenance, HOA fees, and potential repairs. It also requires a greater capital commitment, especially for the initial down payment. For someone who is not yet job-secured, plans to move soon, or needs to maintain liquidity, this decision may be less advantageous. Renting, on the other hand, offers flexibility. It allows access to housing with a considerably lower initial outlay, makes it easier to move to a different area, and avoids some costs associated with ownership. For young professionals, families in transition, people who haven't yet decided where they want to live long-term, or those who prioritize mobility, renting can be a financially sound decision. It also allows people to live in areas where buying would be much more expensive. A person can rent in established neighborhoods of Asunción, close to offices, schools, services, or shopping centers, without having to make the investment required to buy a property in that same location. In that sense, renting shouldn't necessarily be seen as a bad decision, but rather as a useful tool when flexibility is the priority. The main disadvantage is that renting doesn't build equity. Month after month, the payment allows you to use the property, but it doesn't create property ownership. Furthermore, the tenant is subject to price adjustments, contract renewals, and decisions by the landlord. Therefore, while renting can be convenient at certain stages of life, in the long run many people return to considering buying as a way to stabilize their housing costs and accumulate wealth. In practice, the most relevant comparison usually arises when a mortgage payment approaches the equivalent rent. At that point, many families begin to wonder if it makes sense to continue renting or if it's better to allocate a similar amount to buying their own home. The answer depends on several factors: the down payment, the interest rate, the loan term, the property's location, additional expenses, and the expected length of stay. However, the decision is no longer always limited to choosing between buying or renting. In recent years, an intermediate alternative has gained traction: renting a home while buying an apartment off-plan. This approach allows buyers to address their immediate housing needs through renting, while simultaneously building equity through a project under development. Although the initial down payment and installments during construction may be more demanding than those of a traditional mortgage, in many cases the total financial cost ends up being lower, especially when payments are made directly to the developer. Furthermore, some companies in the sector have begun offering post-construction financing for terms ranging from three to ten years, expanding the options for buyers who do not necessarily have access to or prefer not to use bank financing. If someone plans to stay in a city for a short time or is unsure whether their housing needs will change, renting might be a more prudent option. However, if they have a stable income, savings capacity, and a long-term plan, buying can be a more solid decision. Time is a key factor: the longer the intended stay, the more sense buying usually makes, because the initial costs are spread over a longer period and the property has more time to appreciate in value. In Paraguay, the growth of housing finance is also changing this conversation. As mortgage lending becomes more widespread within the financial system, more people can consider homeownership not just as a future aspiration, but as a concrete possibility. The emergence of specific housing programs and increased competition among financial institutions broaden the options, although it remains crucial to carefully analyze the terms of each loan. Ultimately, there's no single answer. Buying is usually a long-term investment decision, while renting prioritizes flexibility and reduces the need for initial capital. Both options can be suitable depending on a person's stage of life, financial situation, and goals. Rather than asking whether it is better to buy or rent in absolute terms, the most important question is another: which option allows you to live better today without compromising your financial stability in the future.

The firm consolidates its position in the premium segment with USD 201 million in transactions since its arrival in the country, driven by the expansion of its commercial team and a strategy focused on specialization, its own developments and territorial growth. In a context where the Paraguayan real estate market is beginning to consolidate new layers of sophistication, particularly in the higher-value segments, Paraguay Sotheby's International Realty celebrated its fifth anniversary in the country with an event held at the Raíces Real Estate Experience Center, the business group of which it is a local part. The commemoration not only marked an institutional milestone but also served as an opportunity to reflect on the brand's evolution in Paraguay, its positioning within the premium segment, and its future prospects in a market still maturing. The firm's local operation is part of a global network with deep historical roots. The Sotheby's brand originated in the United Kingdom as an auction house more than three centuries ago, linked from its inception to the trade of works of art, collectibles, and pieces of high cultural value. Over time, this logic of curation and exclusivity was transferred to the real estate sector, giving rise to an international network focused on marketing high-end properties, with a presence in multiple markets around the world. In Paraguay, its arrival was facilitated by Raíces Real Estate, thus integrating the country into this global ecosystem, but with a specific adaptation to the characteristics of the local market. Since its inception in late 2020, during the height of the pandemic, the firm has experienced steady growth. In quantitative terms, 2025 closed with a transaction volume of nearly $90 million and over $3 million in commissions generated nationwide. These figures reflect not only an expansion in activity but also a consolidation within the brand's target market. This growth was accompanied by an expansion of the sales structure: within a year, the team grew from approximately 30 agents to 44 professionals distributed across the country, demonstrating an increase in both operational capacity and territorial reach. One of the defining aspects of the firm's positioning is its strategic focus. Sotheby's logic centers on transaction value, operating primarily in the "AAA" property segment. This includes everything from high-end residences and apartments to land in premium locations and other properties. In addition, they market their own developments from the Raíces group, particularly gated communities such as AquaVillage, Aquabrava, Aqualake, Aquaterra, and Aquadelta, which form part of a product line with a distinct identity within the local market. In this regard, during 2025 the firm advanced its specialization strategy by creating a unit dedicated exclusively to the commercialization of these developments: the Development Division . The implementation of this team generated a significant change in the composition of transactions. While previously the majority of the volume corresponded to third-party products, with a share close to 93%, after the creation of this division the proportion of proprietary developments within the total transactions increased to approximately 17%, reflecting greater vertical integration within the business model. Another milestone in the firm's evolution was its expansion into the interior of the country, particularly with the consolidation of its presence in Ciudad del Este. While interest in this market arose from the early stages of operation, it wasn't until 2023 that a more robust structure was formalized in the city, driven by the identification of growing demand and significant development potential. Three years after its opening, the office has registered sustained growth in both transaction volume and revenue, accompanied by an increase in the number of agents. Beyond the operational indicators, the anniversary was also marked by a conceptual initiative that sought to reinforce the brand's identity through an audiovisual piece developed specifically for the occasion. Inspired by a global campaign by Sotheby's International Realty, the video adopted a narrative linked to the art world, establishing an analogy between real estate properties and the unique works that characterize the historic auction house. Following this logic, the advisors were presented as curators, responsible for interpreting and positioning each asset based on its singularity, while the properties were conceptualized as irreplaceable pieces within a symbolic "museum." The piece is structured around five scenes that conceptually trace the history and projection of the brand in the country. The first refers to the origin, with an image that evokes the initial construction process of the office in Paseo La Galería. The second revisits the launch, symbolized by a dancer alluding to the brand's official opening. The third introduces the concept of effort and sustained growth, represented by a building with a single light on, referencing the constant work that sustains the operation. The fourth scene focuses on the client, showing the process of analyzing and investing in properties, while the fifth, conceived as an open window, projects the future, suggesting expansion, new opportunities, and continued development of the brand. Being part of a global network of this kind, according to the firm's vision, implies a dual role within the local market. On the one hand, it represents a commitment to standards, processes, and service quality, aligned with an internationally recognized brand. On the other hand, it serves as a guarantee for clients, both local and international, who find in this support a differentiating factor in a market where professionalization still has room for development. In market terms, the firm identifies a scenario with ample growth opportunities, particularly in the premium segment. The country's macroeconomic situation, characterized by relative stability and increasing interest from foreign investors, creates favorable conditions for the expansion of these types of products. In this context, the inflow of international capital is presented as one of the main drivers of growth, especially in developments geared toward high-income segments. However, one of the structural challenges identified is the level of professionalization in the sector. Unlike other markets in the region, Paraguay still lacks a high degree of institutionalization in the real estate sector, which implies a need to advance in standards, practices, and mechanisms that strengthen market transparency and efficiency. In this context, the presence of international brands with structured processes and experience in multiple jurisdictions introduces dynamics that contribute to raising the overall level of the industry. Five years after its arrival, Paraguay Sotheby's International Realty finds itself in a stage that combines consolidation and expansion. With an expanding operational base, deeper integration with the developments of the group to which it belongs, and a strategy aimed at doubling its transaction volume in the coming years, the firm is positioning itself as one of the key players seeking to capitalize on the growth of the premium segment within a Paraguayan real estate market that continues to evolve in scale, complexity, and sophistication.

With established experience in Montevideo, Terra Desarrollos is launching in Paraguay with a project that combines scale, contemporary design and a comprehensive value proposition geared towards both the end user and the investor. Ing. Santiago Benítez y Arq. Sebastián Benítez Bittar (Benítez Bittar), junto a Oscar Vidal, Daniel Mir y Gabriel Meilich (Terra Desarrollos), y Antonella Faranone (Hub Desarrollos). Terra Desarrollos presented its first project in Paraguay in Asunción: Aurora, a residential building located in the Recoleta neighborhood, marking the Uruguayan firm's entry into the local market. The developer arrives in the country after seven years of development in Montevideo, where it has three completed buildings, three under construction, and a seventh project in the launch phase. The company began the process of acquiring land, assembling the local team, and structuring the project approximately two years ago. During that time, it made progress in selecting architects, a construction company, and a sales team, with the goal of replicating in Asunción a work methodology it has already been developing in Uruguay. This methodology is based on large-scale residential projects, competitive pricing, and close monitoring throughout the sales, construction, and after-sales process. Aurora is being developed on a plot of land in Recoleta, an area chosen for its combination of proximity to the city's main attractions and a more tranquil residential environment. The neighborhood is close to the Mariscal Shopping Center, major avenues, and commercial and gastronomic hubs that have been growing in recent years, including La Cuadrita, which has established itself as one of the area's landmarks. The project seeks to integrate into this context through an open ground floor, with retail spaces and a green plaza created by ceding part of the land. This decision allows the building to function not only as a residential tower, but also as a space connected to the neighborhood's activity, complementing the commercial and gastronomic scene that characterizes the area. The tower will have 20 floors and is positioned as one of the tallest buildings in the Recoleta neighborhood. Its architectural design combines a contemporary facade with warmer materials, such as exposed brick on balconies, glazed surfaces, and a double-height ground floor. The design aims for a more balanced, modern, and timeless aesthetic. The units were designed with an emphasis on lighting, ventilation, and spacious interiors. All units feature natural ventilation and large, practically floor-to-ceiling windows. The interior color palette will utilize neutral tones, creating bright, functional spaces that are easily adaptable for both owner-occupancy and rental. Aurora will feature studios, one-bedroom apartments, and two-bedroom units. The studios will be approximately 40 m², a generous size for this type of property in the local market. The one-bedroom units will have different layouts, with total areas of approximately 38, 40, and 48 m², primarily aimed at investors seeking a more affordable price point and rental potential. The two-bedroom apartments will include larger layouts, some with spacious terraces, designed mainly for end users. One of the building's key features will be its amenities, spread across two levels. The first level will house a wellness area with abundant greenery, an organically shaped swimming pool, a solarium, a sauna, a relaxation area, and outdoor spaces. The pool was designed with a curved shape that contrasts with the tower's vertical lines and aims to become one of the project's defining elements. On the 20th floor, another level of amenities will be located, including a gym, coworking space, coffee point, and open views of Asunción and the Recoleta neighborhood. The building will also feature a barbecue area, an outdoor fire pit, a gourmet kitchen, and a grounding space designed for connecting with nature and relaxing. The gourmet kitchen was conceived as a more complete space than a traditional barbecue area, geared towards gatherings where gastronomy takes center stage. From a commercial standpoint, Aurora is in its launch phase with units starting at USD 59,000. The initial plan includes a 20% down payment and financing during construction in 28 installments. The project has already sold 15 units and construction is scheduled to begin on June 1, 2026, while the building is projected to be delivered in October 2028. In terms of development, Aurora brings together a team with experience at both the regional and local levels. The project is being driven by Terra Desarrollos, which operates in Uruguay under the Block Desarrollos brand. In seven years, the company has established a strong presence in Montevideo, with three completed buildings, including a recently finished 160-unit project, three under construction, and a seventh in the launch phase. The firm decided to expand beyond Uruguay based on a strategic analysis of the regional market, identifying Paraguay as having a dynamic economy and a young, growing population. The company plans to replicate in Paraguay the same development model it uses in Uruguay, aiming to launch new projects progressively, approximately one every nine months, while maintaining affordable prices and a proposition focused on generating profitability for investors. One of the cornerstones of its success is meeting delivery deadlines, ensuring quality construction, and providing close support throughout all stages of the project, from sales to after-sales service. The building will be constructed by Benítez Bittar Constructora, a Paraguayan company led by engineer Santiago Benítez Vieira, with over 30 years of experience in the development, planning, and execution of architectural and engineering projects. The firm has experience in projects of varying scales and types, including residential, corporate, industrial, and civil developments, and is positioned in the local market for its technical capabilities, operational structure, and experience in large-scale projects. The architectural design and technical development of the project were carried out by Hub Desarrollos, which oversaw the entire process from the initial site analysis to the final construction plans. This included developing the preliminary design, coordinating the bidding process with construction companies, and overseeing the construction process. Thus, the firm's involvement extends beyond the design phase to include the technical structuring and project monitoring throughout its execution. For Terra Desarrollos, Aurora represents the first step in a growth strategy in Paraguay. The company aims to maintain a work structure focused on a few projects at a time, with direct monitoring of each stage and a scale that allows for control over quality, construction details, and the client experience. With this proposal, Aurora adds a 20-story residential tower to Recoleta, with commercial premises, green spaces, compact and spacious units, and an offering of amenities geared towards daily life, work, well-being and real estate investment.

The eviction process establishes the legal framework for the restitution of real estate in cases of non-payment, expiration of contract or occupation without title, with defined deadlines and a specific procedure regulated by the Civil Procedure Code. Eviction proceedings are one of the most important legal mechanisms in the real estate market, especially in rental relationships, property occupation, and property management. In Paraguay, this procedure is regulated by the Code of Civil Procedure, in Title VII, "On Eviction," which establishes the legal process to be followed when a person is obligated to return a property or part of it. This legal mechanism is relevant for landlords, tenants, developers, property managers, and investors alike, as it allows for the legal resolution of situations where occupancy of a property no longer has sufficient contractual or legal backing. This can occur, for example, when a lease has expired, when there is non-payment of rent, when someone occupies the property without a valid title, or when there is an outstanding obligation to return the property. According to Article 621 of the Code of Civil Procedure, eviction proceedings are available against the lessee, subtenant, or any precarious occupant whose obligation to return the property is enforceable. In simpler terms, this means that the process can be initiated not only against the primary tenant but also against other individuals occupying the property who are obligated to vacate it. The procedure begins with the filing of a written complaint. Once the action is initiated, the court serves the defendant, who has six days to respond. This point is important because the Code itself establishes a warning: if the complaint is not answered within the deadline, the facts presented by the plaintiff may be deemed true, and the judge may issue a ruling without further proceedings. This doesn't mean that every eviction is automatic, but it does show that the process is designed to move relatively quickly when there is no formal objection. The response to the lawsuit is the moment when the defendant must present their defense, submit supporting documents, and offer any evidence they deem necessary. Another important aspect is the situation of subtenants or squatters. The law requires that both the plaintiff, when initiating the lawsuit, and the defendant, when responding, report whether there are other people occupying the property. If so, the judge must notify them by summons within three days so they can appear in court. This notification is crucial because it ensures the judgment also has effect on them. In practice, this provision prevents the eviction process from being limited solely to the main tenant when other people are present in the property. The eviction order can extend to subtenants and squatters, provided they have been duly notified in accordance with the legally established procedure. The trial process is designed as a concentrated procedure. When filing the claim, the plaintiff must include documentary evidence and offer all the evidence they wish to present. The defendant, in their response, must do the same. This means that the parties cannot reserve their arguments or evidence for later, but must present the main elements of their position from the outset. Once the defendant has filed an answer to the complaint, they have another six days to respond to the new facts alleged by the defendant, expand their evidence if necessary, and answer any objections raised. Objections are procedural defenses that the defendant may present, but the law stipulates that they must all be raised together when answering the complaint and will be resolved in the final judgment. If there are disputed facts, the judge opens the case to evidence for a maximum period of fifteen days. During this period, the admitted evidence is presented. The law does not allow for an extension, which reinforces the expedited nature of the procedure. Once the evidentiary period has expired and the evidence has been added to the case file, the judge must issue a ruling within ten days. The Code also establishes specific limitations to prevent the process from becoming unnecessarily long. Each party may present up to four witnesses. If expert testimony is required, the judge appoints a single court-appointed expert. Furthermore, the presentation of arguments is not permitted. This distinguishes eviction proceedings from other, broader legal processes, where the stages can be more extensive. In cases where the lawsuit is based on the non-payment of two or more monthly rent payments, or on the expiration of the term agreed upon in the contract, the admissible evidence is even more limited. In such cases, the law only allows a party's admission, a receipt for rent payments, or a document proving that the contractual term has not expired. The intention of the procedure is that, when the cause for eviction is clear and documented, the trial does not become an unnecessarily lengthy dispute. When dealing with rental agreements without a specified term, the Code refers to the terms established by substantive law. Once that term has expired, immediate eviction by force may be ordered. However, if there is an expired lease agreement, if the contract was terminated for non-payment, or if the occupant is a squatter obligated to return the property, the judge may order the eviction and, depending on the circumstances, grant a period not exceeding ten days. The eviction is the stage in which the judgment is physically executed and the property is vacated. It may be carried out with the assistance of law enforcement, as ordered by the court. However, the law also clarifies that the eviction does not prevent the defendant from pursuing other legal actions in a separate lawsuit if they believe they have rights to claim against the plaintiff. An important point is that an eviction proceeding does not establish ownership or title rights. Article 633 states that the outcome of this process cannot be used to challenge possessory or ownership rights that the parties may assert in another lawsuit. In other words, the eviction resolves the restitution of the property, but it does not necessarily settle other legal disputes that may exist between the parties. The final judgment is the only decision that can be appealed within the proceedings. The appeal is granted with suspensive effect, meaning that enforcement is suspended while the appellate court reviews the case. The court must issue its judgment within fifteen days. The eviction order must also be served personally or by summons to any subtenants and squatters identified during the proceedings. They have the same timeframe as the primary tenant to vacate the property. This ensures that all occupants are formally notified of the court's decision. The Code also provides protection against occupants who enter the property after the lawsuit has begun. Eviction can be enforced against any subsequent occupant if the plaintiff, when filing the lawsuit, requests that the property be registered as subject to litigation and that an inspection of the property be carried out, recording the occupants. These procedures must be completed within eight days of the filing of the lawsuit. The registration must be published for three days by edict in a newspaper of wide circulation. Another option is a future judgment. This allows an eviction lawsuit to be filed before the agreed-upon deadline for vacating the property. In that case, the judgment ordering the eviction is enforced once the deadline has passed. If the defendant accepts the lawsuit and complies with the agreed-upon terms, the plaintiff is responsible for court costs. Regarding the duration of the process, the timeframes can vary considerably. Although the Code establishes short deadlines for responding to the complaint, producing evidence, and issuing a judgment, the actual duration depends on the specifics of each case. When there is no opposition from the defendant, the trial can last approximately six months to a year. However, if there is opposition, procedural incidents, appeals, disputes regarding occupants, rights invoked by third parties, or more complex situations, the process can extend for a longer period. In particularly contentious cases, it can last several years and even significantly exceed the standard timeframes. Law No. 6979 introduced a significant amendment to Article 621 of the Code of Civil Procedure. Following this reform, eviction proceedings are not admissible when the lawsuit is filed against elderly ascendants or persons with disabilities, provided that the plaintiff or owner has a legal obligation to provide support and that the eviction could create a situation of vulnerability and serious abandonment. This situation can be proven at any stage of the proceedings through incidental motions. The processing of the incidental motion does not suspend the main trial, but it must be resolved in the final judgment, after receiving an opinion from the Public Defender's Office. With this amendment, the law incorporates an exception related to cases of special family or social vulnerability. In summary, eviction proceedings in Paraguay are a specific legal procedure for recovering a property when there is a legally enforceable obligation to return it. Its legal structure includes short timeframes, limited evidentiary rules, and mechanisms for including other occupants in the process. At the same time, it provides exceptions and safeguards for certain sensitive cases, especially when vulnerable elderly people or people with disabilities may be affected. For the real estate sector, understanding this procedure is crucial. Contractual clarity, proper documentation, occupant identification, and strict adherence to legal steps are key elements in preventing protracted conflicts and ensuring that property restitution can be processed within the framework established by law.

The country maintains one of the most sustained growth trajectories in Latin America, but the challenge lies in accelerating that process. In this context, the real estate sector emerges as one of the main channels for realizing that growth. Paraguay is experiencing a unique moment in its economic history. With cumulative growth exceeding 1,500% over the last six decades and one of the most dynamic growth rates in Latin America in recent years, the country is on an upward trajectory that, according to President Santiago Peña himself, has the potential to lead the region. However, the discussion is no longer solely about growth, but about the speed at which that growth translates into tangible development. That difference between growth and development is precisely where the real estate sector acquires a central role. From a macroeconomic perspective, the current scenario presents particularly favorable conditions. The Central Bank of Paraguay projects GDP growth of 4.2% for this year, accompanied by contained inflation of around 1.9% year-on-year and a declining monetary policy rate, currently at 5.5%. This set of variables creates an environment of greater predictability, reduced borrowing costs, and incentives for investment—factors that have historically been directly correlated with the expansion of the real estate market. But beyond macro indicators, what is relevant is how this growth translates into concrete dynamics within the sector. First, sustained economic growth, accompanied by the creation of formal employment—identified by the World Bank as the main driver of poverty reduction—has a direct impact on housing demand. As more people gain access to stable and better-paying incomes, the base of potential buyers and renters expands, especially in middle-income segments that have historically been underserved. This phenomenon not only drives the absorption of residential projects but also begins to refine demand, raising standards in terms of location, construction quality, and services. At the same time, the reduction in poverty, which fell from over 50% to around 16% in the last two decades, has a structural effect on the market. The escape of large segments of the population from vulnerable conditions not only increases consumption but also redefines housing aspirations, giving rise to new housing types, greater urban densification, and a progressive formalization of the market. In parallel, the growth of the agricultural sector, which has been revised upwards by the Central Bank of Paraguay (BCP), introduces another layer of significant impact. The dynamism of agriculture not only strengthens exports and foreign exchange earnings, but also generates capital surpluses that, in many cases, find a safe haven and diversification vehicle in real estate. This investment flow, traditional in Paraguay, has been one of the driving forces behind the expansion of residential developments, rental buildings, and mixed-use projects in major urban centers, excluding foreign investment. However, one of the most decisive elements in President Peña's analysis is Paraguay's status as the least urbanized country in Latin America. Far from being a weakness, this characteristic represents one of the greatest structural opportunities for the real estate sector. Low urban density and geographic dispersion mean that much of the country's future growth has not yet materialized in the form of cities. This opens up significant opportunities for the development of new urban centers, infrastructure expansion, the creation of new hubs, and the integration of services in areas that currently lack them. This translates into opportunities for residential development as well as for commercial, logistics, and industrial assets, and even for projects related to health and education. In turn, Paraguay's strategic location at the heart of a regional market of over 500 million people reinforces its attractiveness as an investment destination. This positioning, combined with competitive energy, macroeconomic stability, and an improved business climate, is beginning to solidify a narrative that transcends the local level and places the country on the radar of international capital. In real estate terms, this translates into a growing demand for investor-oriented products, ranging from rental units to large-scale institutional developments. However, the official diagnosis itself introduces a relevant warning: growth alone does not guarantee accelerated transformation. To shorten development timelines, moving from decades to shorter cycles, it will be necessary to more efficiently coordinate the public sector, the private sector, and the technology ecosystem. For the real estate market, this implies a change in scale and complexity. It is no longer simply a matter of responding to existing demand, but of anticipating and structuring the country's future growth. This includes everything from planning new urban districts to incorporating more integrated development models, where housing, work, services, and public space coexist more efficiently. In practice, this process is already beginning to be observed in different parts of the country. In Asunción, the Mariscal neighborhood has become a clear example of progressive collaboration between developers, commercial operators, and private stakeholders, creating a new urban center through the integration of uses and the improvement of the surrounding area. On a larger scale, initiatives such as the development of Distrito Norte or the collaboration of developers around the CIT zone reflect an emerging trend in which different actors in the sector are beginning to coordinate efforts to influence not only individual projects but also the urban planning of entire areas. This type of dynamic marks a turning point in the Paraguayan real estate market, where development ceases to be solely lot by lot or building by building, to be thought of in terms of urban ecosystems, with a more strategic, collaborative and long-term logic. This can be seen in Barrio Marical and on a larger scale in Distrito Norte or the Association of Developers in the CIT area, where developers and business owners from different areas join forces to improve urban planning. In short, Paraguay's current situation presents a unique opportunity. Economic growth, job creation, poverty reduction, and macroeconomic stability form a solid foundation. But it is on the ground, in how that growth materializes in cities, buildings, and infrastructure, that the true scope of development is defined.

The project incorporates larger-scale residences, experience-oriented amenities, and an operation that integrates services, design, and security within an already established complex in Asunción. Continuing the success of EMINENT Tower I and Tower II, EMINENT Tower III is now available, a new development on the residential boulevard of Avenida Santa Teresa, solidifying one of Asunción's most prestigious residential offerings. Located opposite the two existing towers, this third phase reinforces the area's status as one of the city's most sought-after locations, offering immediate access to major shopping centers, the city's most important corporate hub, high-end restaurants, and educational institutions. The location fosters a dynamic daily life based on proximity, with essential services, offices, and social spaces all within walking distance. Santa Teresa Boulevard is establishing itself as a high-end residential hub, where the integration of residential life, commercial activity, and services defines a complete urban environment, complemented by a range of amenities and services geared towards a more holistic lifestyle. Within this setting, the project proposes a continuation of a residential style defined by understated elegance, exclusivity, and a clear European inspiration, where design, proportions, and materials are integrated into a coherent whole. The residences are designed to offer unobstructed views of the city, complemented by high-end finishes and meticulous attention to detail—elements that define the character of the complex from its inception. The development of Tower III stems from the experience and performance of the first two towers, which achieved high sales and occupancy rates, a well-established community of residents, and a strong presence in the local market. Building on this success, the project follows the same approach along the boulevard, incorporating a third building that expands the scale of the complex and provides continuity to its design. The project's architecture directly reflects ABV's philosophy as a developer. The firm has established a style based on a minimalist aesthetic, characterized by few elements and clean lines, where formal simplicity is combined with contemporary technology. Tower III maintains this identity, with a 25-story building of slender volume that reinforces the presence of the complex and culminates in a rooftop design that enhances the views and the rooftop experience, consolidating a residential offering that prioritizes design, proportion, and spatial quality. With a design that prioritizes greater spaciousness compared to previous towers, the unit types range from two-bedroom apartments to large semi-detached flats, with floor areas ranging from 105 m² to 376 m². The main feature of this third tower is the incorporation of larger units and more comfortable spaces, maintaining the same level of finishes and quality, but with a superior scale in interior design. Regarding amenities, the project continues the approach developed in EMINENT I and II, focused on creating spaces for use and experience within the building. The tower includes a premium lobby, an infinity pool with panoramic views of the city skyline, a solarium, a fully equipped gym, locker rooms with sauna, a business center, a rooftop terrace with a bistro and grills, a wine cellar, a restaurant and bar with a sunset rooftop, complimentary parking, and laundry facilities. Each of these spaces is designed for everyday use as well as for social gatherings, creating a concept that seeks to integrate residential life with a hotel-like experience. The building also incorporates a service structure that reinforces this logic, including a 24-hour concierge, on-site catering, and a grand entrance for vehicles that allows passengers to disembark inside the building. The operation of these services is supported by a dedicated team, which is a central part of the overall design. In terms of security, EMINENT Tower III features a comprehensive system that includes 24-hour surveillance, vehicle access control, camera monitoring in common areas, amenity reservation management via mobile apps, and on-site staff. The building also incorporates systems that regulate access based on reservations and digital controls, creating a secure environment for residents and visitors. This same operational and security logic has already been implemented in EMINENT Tower I and Tower II, where the complex has been chosen as a residence by diplomatic representations, based on its security and quality standards, consolidating a resident profile that prioritizes these attributes. One of the key differentiators of the EMINENT complex lies in the quality of its materials and construction. The existing towers, nearly seven years old, maintain a condition that reflects the durability of the materials used. The project incorporates Italian marble, European furnishings, and high-end amenities in the common areas, reinforcing a coherent aesthetic and material style throughout the complex—a feature that translates into the preservation of the finishes and the stability of the asset's value over time. In this context, the integration of Armani Casa furniture in the common areas stands out, reflecting a relationship the developer has established in various projects. EMINENT thus positions itself as one of the first developments in Latin America to incorporate this type of furnishings into its amenities, solidifying a concept that combines design, materials, and ambiance under a unified vision. The experience within the building is complemented by the presence of a bistro and gastronomic services, which allow residents to consume within the complex itself or receive guests, incorporating an additional dimension to the daily use of the building. The units are currently being marketed from approximately USD 2,200 per m² with prices starting from USD 190,000, with an estimated delivery date of 2027. The development is being handled by ABV, an Argentine developer with over 36 years of experience, which has developed nearly 60 buildings and boasts more than 300,000 m² built and 600,000 m² planned in Argentina and other countries. It currently leads the high-end segment in its home market with projects such as Deco Polo Furnished by Armani Casa, two residential towers located facing the polo field and the river in Buenos Aires. The firm is also developing projects in Puerto Madero and in the Núñez innovation hub, also on the riverfront. ABV is fully involved in all stages of its developments, including design, development, marketing, construction, after-sales service, and follow-up, working with teams and tradespeople with whom it maintains long-term relationships, thus consolidating its own management model for project execution. Within this framework, EMINENT Torre III is incorporated as a new stage within a development already consolidated in the local market, expanding the scale of the complex on the Santa Teresa boulevard and maintaining a design and operation line that defines its place within the high-end segment in Asunción.

The new development of the Venire line is progressing in one of the most dynamic areas of Asunción with a proposal that combines contemporary design, commercial integration and solutions geared towards short-term rental management. Last Thursday, April 16th, the groundbreaking ceremony for Venire Villa Morra took place. This new building is part of the ongoing urban transformation of one of Asunción's most active and established neighborhoods. Located one block from Mariscal López Avenue, across from the Atrium and in close proximity to Shopping Mariscal on Guido Spano Street between Senador Huey Pierce Long and Dr. Francisco Morra, the project is situated within an area characterized by its high concentration of commercial, corporate, and gastronomic activity, reinforcing a development approach that prioritizes proximity, walkability, and integrated uses. Venire Villa Morra represents the continuation of a conceptual approach that the developer has been consolidating in the local market. It is the second building under the Venire brand, following a first development near Shopping del Sol, and responds to a clear strategy: to be located in dynamic urban centers where daily life can be managed on a pedestrian scale. More than a traditional residential building, the project proposes a way of living in the city, aimed at a demographic that prioritizes immediate access to services, reduced commute times, and a more integrated urban experience. In architectural terms, the building adopts an aesthetic defined by the combination of high-quality materials such as exposed brick, steel, and concrete, in a composition that evokes a contemporary reinterpretation of industrial design, with influences from the "New York Style." This formal identity is not merely an aesthetic choice, but rather seeks to forge a more direct relationship with the urban environment of Villa Morra, recreating to some extent the scale and materiality of the traditional neighborhood, but from a contemporary perspective. The building will have a total of 80 apartments distributed over eight levels, incorporating amenities such as a swimming pool, gym and enclosed barbecue area on the rooftop, while on the ground floor a key commercial component will be integrated into the proposal: a specialty coffee shop, conceived not only as a service for the residents, but also as a meeting place, work space and extension of the building itself towards the city. One of the project's most distinctive aspects is its focus on short-term rentals, incorporating technology that enables self-management of the units. Through digital systems, owners can remotely manage their apartments, enable access via smart locks, monitor income and expenses using facial recognition, and manage rental operations without physical presence. This technological layer introduces a traceability and control component that responds to a growing market demand, particularly among investors seeking to maximize the return on their assets in flexible rental schemes. The proposal is largely aimed at a young, active demographic, linked to one of Asunción's main urban axes, who value the opportunity to live close to their workplace, with immediate access to services, restaurants, and leisure spaces. This represents a shift in demand patterns, where time and mobility take center stage, and where location ceases to be merely an added value attribute, becoming an essential component of quality of life. The unit types include studios, one-bedroom, and two-bedroom apartments, ranging in size from approximately 43 m² to 80 m², with layouts that prioritize spaciousness, functionality, and comfort, in line with the product's positioning within the upper-middle segment. Currently, the studio apartments are completely sold out, reflecting the existing demand for this type of property in the area. In commercial terms, the project is progressing significantly, with approximately 65% of the units already sold at the start of construction, reinforcing the market's validity. Currently, the available units are one- and two-bedroom layouts, with prices starting at USD 94,000, and financing options that combine interest-free down payments during construction with bank financing upon delivery. Behind the project is Creo Inmuebles, a locally owned developer with ten years of experience, currently boasting over a dozen developments in various stages of completion and more than a thousand units across finished, under-construction, and planned projects. Their approach is based on a long-term vision, strong local roots, and a work policy focused on selecting top-tier suppliers and contractors, with an emphasis on after-sales service and the long-term sustainability of their developments. In line with this expansion, the firm is currently moving forward with new developments such as Ventura Ycuá Satí, Ventura Hassler, and Veralta Los Laureles , reinforcing its position within Asunción's main residential areas. Construction will be handled by Alcina Wood & Asociados, a firm with extensive experience in the local market, backed by decades of expertise in developing residential and corporate buildings, as well as projects of varying scales. The choice of a construction company with this profile aligns with the developer's strategy of prioritizing construction quality and durability as core elements of its value proposition. The design, by Pro Arquitectos, also incorporates a strong technical foundation through the use of BIM technology, which optimizes the coordination of specialties, improves construction efficiency, and ensures greater control over the final quality of the project. With over 18 years of experience and a team of approximately 20 architects, the firm has focused much of its expertise on the development of residential buildings, consolidating an approach that prioritizes both functionality and efficient execution. In parallel, the firm is already preparing the launch of a new project along the same lines, Venire 568, located a few blocks from Shopping Mariscal, which is currently in the pre-sale stage and will continue to deepen this urban development strategy oriented towards pedestrian life and flexible rental. With the start of construction on Venire Villa Morra, a new development is being added to one of the city's most dynamic areas, aligned with a growing demand focused on location, practicality, and flexibility of use. The project reflects a typology that is gaining ground in Asunción: compact buildings, well-located and with a clear purpose, appealing both to those seeking to live in the city and to those prioritizing rental income as their investment.

With 120,000 m², integration of uses and design by Gensler, the project transforms the traditional shopping center into the first large mixed-use urban complex in the Central Department, boosting the growth of the northern metropolitan axis. Last Thursday, April 16th, the official launch of Shopping Mariano's transformation into Mariano Centro Urbano took place, in an event that included the groundbreaking ceremony and the unveiling of its new brand identity. More than just a commercial expansion, the project marks the beginning of a new scale of urban development in Greater Asunción, aiming to redefine how commerce, services, housing, and public space are integrated in one of the fastest-growing areas of the metropolitan region. What began approximately 15 years ago as a shopping center built on land previously used for plantations and agricultural activity has now become the heart of a broader urban transformation. In retrospect, the decision to build a shopping mall in Mariano Roque Alonso, driven by the visionary Don Aldo Zuccolillo when few imagined the area's potential, marked a turning point for the city. Today, the surrounding growth has not only validated that initial investment but has also established the mall as one of the area's main landmarks. Tamara Mendelzon, Paul Robinson, Jorge Mendelzon (Director de Penta), Inés Giménez (Gerente de Mariano), Santiago Lantermino (Gerente General de Penta S.A.) y Pablo Mendelzon, durante el acto de la primera palada de Mariano. In this context, Mariano ceases to be merely a commercial destination and becomes an integrated urban center. The project not only expands its scale but also incorporates new uses: commerce, services, healthcare, and housing, aligned with the growing demand in the area, consolidating itself as a central hub of activity with a more constant and diversified flow throughout the day. The total intervention covers approximately 120,000 m², combining the modernization of existing areas with new construction that significantly expands the complex's capacity and scope. The current shopping center is fully occupied, with growing demand for additional spaces. This scenario not only reflects the project's established position but also validates the need for expansion. The expansion will allow the number of stores to increase from approximately 90 to nearly 200, representing not only growth in quantity but also a concrete opportunity to optimize the retail mix to meet evolving consumer demands, particularly in the areas of food, services, and experiences. The project's location is one of its key strategic assets. Situated on one of the most important access routes to Greater Asunción, in a corridor connecting the capital with the north of the country and with Argentina, Mariano is located in an area that has experienced sustained urban growth in recent years. Mariano Roque Alonso has ceased to be a peripheral area and has become a rapidly expanding zone, with residential development and commercial growth. In this scenario, the new Mariano acts as a catalyst for development. Its scale, its diversity of uses, and its ability to attract people position it as an anchor point capable of structuring the growth of the Northern District , generating a multiplier effect on the surrounding area. One of the most significant aspects of the project is its focus on the urban experience. Mariano incorporates an open design, where interior and exterior spaces are integrated through simple and clear pathways, with a strong presence of green areas and gathering spaces. The addition of an internal commercial avenue and open plazas not only expands the retail offering but also incorporates new urban spaces into the city. In its first phase, the project incorporates new components, with 10,000 m² of additional retail space and 10,000 m² dedicated to a large-scale medical center, which will integrate a clinic and consulting rooms. This healthcare component adds a new layer of functionality, aligned with a growing trend toward the concentration of services in integrated urban hubs. In addition, there are 12,500 m² comprising two residential towers, with a third tower planned for later phases. Integrating housing within the complex not only expands the overall offering but also creates a permanent community. This translates into higher usage, constant activity across different sectors, and a more stable demand base for commercial tenants, complementing the traditional flow of the retail component. This approach is supported by an infrastructure designed to accommodate this new scale, with approximately 1,500 parking spaces, optimized internal vehicular circulation, and the integration of vegetation as a central component of the project. In addition, there are spaces designated for events and activities, allowing for continuous programming and greater dynamism throughout the complex year-round. Construction is scheduled to begin in the last quarter of 2026, with completion estimated for mid-2029, including the modernization of existing areas. The design of the new Mariano is being handled by Gensler, the world's largest architecture and design firm, with a presence in over 100 countries and a proven track record in developing large-scale urban projects. The choice of a firm of this caliber reflects the scale and significance of the transformation. In this sense, Gensler's involvement brings not only design expertise but also experience in planning this type of development on a global scale. In short, Mariano is not just expanding a shopping mall. He's introducing a new logic of urban development in Greater Asunción, where the integration of uses, community building, and quality of experience become the central pillars. This project, due to its scale, location, and design, is establishing itself as the main urban hub of the northern metropolitan area and a turning point in the evolution of the local real estate market.

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