At a time when the real estate market is moving in a cautious mode, One developer decided to move in the opposite direction. The Iris Group, consisting of the capitals of Argentina and Chile, announced… An investment worth one billion US dollars For the next ten years. In this context, the group will develop 700,000 square meters In a decade, at a target pace of 70,000 meters annually And the amount of investment amounted to Estimated construction value is approximately US$1,500 per square metre.
With this commitment, it seeks to develop new poles in the northern region of Greater Buenos Aires. The investment comes in a context of excellence Macroeconomic fluctuationsThe rapid increase in construction costs and the difficulty of long-term planning.
In 2025 from the developer They have already invested US$53 million In purchasing land, it plans to disburse another $45 million in 2026.
The news is surprising in a scenario where launches have been reduced and many companies have chosen to manage inventory rather than expand. Part of this caution responds to a central fact: In the past 18 months, construction costs have risen well above the rate of inflation Overall, which compressed margins and forced them to redefine strategies.
However, the company emphasizes that long-term regional planning allows for this It goes through economic cycles without losing value. “When you look at it in 10, 15 or 20-year horizons, the business is not just development, it is also a capital gain for the land,” says Gonzalo Sánchez Zeni, general manager of Iris Desarrollos.
One of the pillars of the plan is strategy Land Banking Services: Obtaining and reserving land in the areas where They anticipate demographic growth or accessibility improvements. For this reason, the group purchased land in Benavidez, Cardales and Tortugas. They also have meters left in Pilar.
“The key is to generate the urban fabric, not individual projects,” sums up Sánchez Zeni with an area of 70 hectares in those areas. “This year we bought 500,000 new square meters for development; it is not land that should be saved; It is land for urban development“, he points out.
The focus is not on an isolated project, but on… – Creating complete neighborhoods with housing, services, green spaces, and equipment Under the same main scheme. In other words, the CEO summarizes the company’s philosophy as follows: “Make a city” More than chasing specific opportunities. “We do not build square meters and in every project we leave space for greenery, encounters and life. We choose to lose meters before we lose meaning,” confirms Javier Ríos, the Argentine partner who, together with Chilean Eduardo Fernández León, made the decision to go ahead with this investment plan. This focus on In the long term it is justified to continue investing in Argentina Even with high volatility.
At Benavidez, the early stages of what the company knows Aires Benavidez area. There the group got about 15 hectares On Benavidez Street, the corridor that connects traditional clubs, schools and Nordelta Shopping Centre. Project from Housing and apartments to Investments worth 18 million US dollars With tickets that go From US$150,000 to US$260,000.
At Kardales the focus is on another type of entrepreneurship: a venture with more Larger with an area of 2600 m2 designed for those who want to build a second home. The project is designed as “Reef neighborhood”It has low density and half of the space is dedicated to shared uses. In the first stage, 116 piecesapproximately 40% sold out already, and tickets are ranging Between $100,000 and $200,000. “There will be two houses in each building,” the executive adds.
“We were surprised by the speed of demand for second homes: there are practically no investors, They are families who imagine themselves living in the countryside. “Half an hour from traditional arcades in the northern region,” says the executive.
In parallel, the company expects this Pilar continues to be the operational hubwith a margin sufficient to triple the surface area developed so far. The group has new residential and mixed-use projects in Panamericana in its portfolio, including products for premium sectors in the area known as Belara.
The third focus of the plan is the Tortugas regionThey have acquired around 15 hectares between kilometers 38 and 40 of Panamericana, in a corridor where other related players also operate. There the project still exists Planning stage It does not have a launch date, but the bet is to replicate the logic of the regions with a mix of uses and complement the development of other actors in the region.
The company that developed the traditional neighborhood of Aires del Pilar has a nearly 30-year presence in the country with a model based on planned communities, integrated infrastructure and phased development. There, on land that two decades ago was fields, the group has developed more than 160,000 square meters between gated communities, residential units and office buildings, and still maintains The remaining land is to add another 150,000 square meters in the Iris Villa areaat kilometer 43.5 of Panamericana. This precedent, which has known how to transform large rural areas into urban neighborhoods, is what is now being sought to be repeated in new areas.
Away from urban potential, The plan faces clear challenges. The Argentine economy offers cycles that quickly adjust costs, financing and business rates. Any project extends over time You must take into account changing scenariosFrom changes in the exchange rate to regulatory restrictions or changes in demand. “The biggest challenge is the homeland.”Sánchez Zeni admits and describes it Each launch requires working with different scenarios In terms of prices, working times and financing, relying on consultations, land forecasts and flexible planning.
However, he confirms that the group’s Chilean partner retains An optimistic vision for Argentina in the medium term “He believes that the right time is coming for Argentina, and that is why we are now rushing to expect this improvement.”
The announced investment also acts as a signal. In a market that has downsized in recent years, the decision to move forward with a broad regional plan offers a different nuance: the idea that, even in adverse contexts, There are companies that want to work with a long-term vision.
The company confirms this Projects do not rely exclusively on the pre-sales level to progressAllowing them to maintain schedules even when the market slows. “When we launch a project, we finish it regardless of the speed of sales,” stresses Sánchez Zeni.
If the plan comes to fruition as planned, Benavidez, Cardales and Pilar could do just that Creating a corridor with new central services, services and housing proposals of various scales. The scale of the project, both in terms of area and investment, suggests that the impact will not only be commercial, but urban as well. But for now, the strategy is clear: grow in the area, anticipate demand, and make the city stand out in times of uncertainty.