Two Buenos Aires development plots near Costantini's tower project up for sale

Two prime plots of land in Buenos Aires's Catalinas Norte 2 district are on the market, with an estimated value of $50 million. This area is poised to become one of the city's most aspirational business centers, featuring a new riverfront skyline.

The land is part of a larger urban renewal project initiated after the city legislature rezoned the railway property in 2016. This sector, spanning nearly 90,000 square meters between Retiro and Puerto Madero, offers exclusive river views and is adjacent to Catalinas, a prime office hub known for its high rental values. The initial land auctions between 2017 and 2018 generated $350 million, which funded the Paseo del Bajo, an underground highway connecting major expressways.

These seven parcels follow the existing Catalinas development along the avenue before crossing the dock. For years, these sites housed parking lots. The two plots closest to Retiro station are now being sold by Newmark and RED. Developers can construct two towers on each plot, with 1,400 square meter bases, 62-meter heights, allowing for 21 floors of housing and 17 floors of offices.

Nearby, Eduardo Costantini is advancing his project, which includes three office towers with commercial bases offering entertainment, gastronomy, and art. Other planned developments include a mixed-use building by Banco Macro designed by Norman Foster and a corporate building for Techint. Real estate experts believe the area will solidify its position as a key business district within the next five years, given its unique characteristics and riverfront location.