Betting on dollarization, Dinosaurio prepares the sale of Milénica 7 and starts a new building

Grupo Dinosaurio is getting ready to launch the marketing of Milénica 7, the seventh building it built in the real estate and commercial complex it has at the intersection of Rodríguez del Busto and Cardeñosa avenues.

Strictly speaking, the building has been almost ready since the end of last year, but the company headed by Euclides “Tati” Bugliotti understood that that moment – ​​in the middle of the presidential transition – was not the best time to go on the market.

Meanwhile, the construction of Milénica 8 has already started, a work in which it will modify its traditional way of selling.

Insignia, the name of the seventh tower, is a high-end building with 186 one-, two- and a few three-bedroom apartments, distributed over 23 floors.

The first ones have 80 square meters; the two-bedroom units, 140 square meters, and the largest, 190 square meters.

In addition, it has 200 underground garages and another 40 more uncovered, since some apartments have a double garage. With this, there is a total of 25 thousand square meters, of which 20 thousand correspond to the housing area.

The building has amenities and details premium, as double glass with sunshade system, imported from Germany; doors with key system, fingerprint and opening with cell phone; floor heating with water radiators and air conditioning; Vieytes joinery curtains and Johnson kitchen furniture; Whirlpool refrigerators, and other appliances such as a washing machine, microwave and extractor fan.

But, in addition, the building has a bearing of one thousand square meters (also designed for social and cultural activities, such as art exhibitions), a park of 17 thousand square meters with a swimming pool.

“It is a product designed for the segment premium of the market,” highlights Bugliotti, before explaining the prices at which each unit will go on sale. “At this moment it is very difficult to put a price, we don’t know how much the iron costs! But the idea is to leave with prices a little lower than Puerto Madero,” he explains.

Dollarization in sight

With some units, which could be located around or above US$ 400 thousand, Grupo Dinosaurio is in the final stage of processing the necessary documentation to offer financing in dollars, through its own Banco Dino, and with the support of a local bank that could be defined in the coming days.

According to the businessman, the apartments “will be sold with a 10-year dollar mortgage, applying the mortgage interest rate set by the United States Federal Reserve (FED).”

This is another reason why the company has been delaying the start of marketing, waiting for the Central Bank of the Argentine Republic (BCRA) to authorize operations in dollars, as well as for the country to unify exchange rates. and definitively enter the dollarization promoted by President Javier Milei.

The businessman understands that if Argentina dollarizes at an exchange rate around $1,000, as seems to be happening at present, savers who have their capital in the US currency will be encouraged to invest it, since under these conditions the rent will not be a good deal.

In his vision, also this year the Government would launch a money laundering scheme that will encourage savers to put their dollars into the formal channels of the economy.

What’s coming

It is for this reason that, since the end of last year, the construction of Milénica 8 also began, a building with almost the same characteristics as Insignia. It will have apartments with one and two bedrooms, mostly, and between eight and 10 three-bedroom units, adding another 186 homes and 25 thousand square meters covered in total.

The proposal will be similar and will also be offered with mortgages in dollars. But in this case, the Córdoba company plans to innovate in marketing times. Historically, Bugliotti has been disinclined to sell “in the pot” (he prefers to do so once the work is finished and ready to deliver), but in the latter case he could make an exception.

“We still have to determine the adjustment system and we are going to wait for the work to be more balanced,” warns the businessman while watching how the first columns are already beginning to take height.

Milénica has six buildings with a total of 340 apartments, in a space of 34,200 square meters. When the two high-end buildings are ready, the complex will reach 712 apartments on a total property of 6.5 hectares.

“Due to its location, its security conditions, the green environment and its commercial offering, it is a unique place in Córdoba,” highlights Bugliotti.

Industrial park: when will it be ready

According to Bugliotti, “in three to four months” he will be ready to start marketing the industrial park he is developing in Colonia Caroya.

On a 26-hectare property, it has a park under construction with 46 industrial lots, which includes the tenth branch of its hypermarket chain and an area for housing.

Currently, Grupo Dinosaurio is working on the construction of the gutter curb, thus entering the last stage of its development.

The entry of companies into this complex will be supported by a line of financing and benefits, such as exemption from provincial taxes such as Gross Income and the Commerce and Industry tax, among other contributions.