Algodon Wine Estates

Hotel Reservations

The combination of golf, vineyards and houses takes hold as an investment in Mendoza

Source: Diario Los Andes
By: Miguel Angel Flores
04.11.2009

Algodon Wine Estates in the South and Aymuray in Lujan joined now driven golfer Eduardo Romero.

Another million-dollar project that combines golf, wine and luxury homes began to take shape in Mendoza and shows that the format is here to stay. The project is set to attract foreigners who have no confidence in the economies of their countries and seek another destination for their money. This time, the hand of the golfer Eduardo "Gato" Romero has been a large capital investment in South Africa, associated with British and Americans, on an area of 300 hectares in Tunuyan.

Is already the third of its kind that stand in the province, after the already entrenched Viñas del Golf (now Algodon Wine Estate) San Rafael, and one of the two that are known so far in 2009, along with Aymuray, in Lujan, submitted in late February. Made with demarcations initials, is scheduled to begin in May in the first movements of the work, which has a term of three years from a budget of more than U $ S 50 million.

A “Gato” among the vineyards

But in addition, Uco Valley Spa and Golf Resorts (his original name) shared with the enterprise and between Agrelo Cacheuta the particularity of being backed by investors from South Africa. Aymuray, with the Argentine Obarrio as a developer, was the first to attract businessmen from home and that Americans, too close to the golfer Gary Player, the main funder of the initiative in eight years, as announced, will involve about $ 1000 million.

Overall, the total property is approximately 10 miles distant from that place, adjacent to the plant Eco de los Andes. And construction of the athletic administration and will be the debut of Romero Design in Latin America, the company's athlete Cordoban for such developments.

Moreover, the group that is funding the project is dedicated to urban design and construction. "They chose this site. In your country this type of project is in fashion, along with them I want to Argentina, and what better than Mendoza, both for its landscape and the quality of the grapes," said Romero, for whom opportunity arose in one of many conducted tours for various golf tournaments in the calendar, but also recognize contacts through a local winery.

In principle, the greens will occupy about 60 hectares (in the future could be extended to a polo field) and 150 vineyards. The rest will be for the lots, with prices not transcended, to luxury homes to access the complex amenities (spa, Olympic pool, etc). This, in turn, also 2 restaurants and plans, and as Aymuray Cotton, a luxury hotel and club house.

Attractions

The rest of the proposal is common to competition: the buyer can build your house on the site and also produce their own wine. Or leave your assets in the hands of the trading firm to manage it.

"We have sold about 30 of a total of 120 lots, but is being evaluated to 300," said Romero.

Meanwhile, further south, Algodon Wine Estates, precursor of the venture business that was born as Viñas del Golf de Ricardo Jurado (who also bet on the combination golf and urbanism in Guaymallén) provides for delivery in September to build the first batch of 301 distributed in most of the 825 acres it occupies in Table Benegas, San Rafael.

While initially the band of extended contributions to the 264 thousand dollars, due to international crisis (see) the increased demand dropped in price ranges.

Diego Coll, manager of the complex, pointing to the Dutch, Germans and Americans and to a lesser extent, Argentina aimed at non-productive land (without wine) lower surface, the order of 70 thousand dollars.

Seeking to attract more local customers, Coll explained that "the extended form of payment and financing as well as more flexible deadlines for reservations."

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