What happened to the 'Puerto Madero of Asunción' that the ANNP handed over to an event businessman?

A controversial project to revitalize the Puerto de Asunción, dubbed the "Puerto Madero de Asunción," is facing significant delays two years after a 20-year concession was granted. The National Administration of Navigation and Ports (ANNP) awarded the contract to Nuevo Mundo Entertainment SA, a company associated with event entrepreneur Rodrigo "Coto" Nogues, who also heads the Club Olimpia.

The project, envisioned as a transformation of a historic port zone into a vibrant space for events, commerce, and other businesses, has seen limited progress. While Nuevo Mundo Entertainment SA has begun utilizing parking areas and hosting events, the core construction work on four key warehouses remains incomplete. The ANNP claims the delay is partly due to unforeseen structural work beneath the pier.

ANNP president Julio César Vera Cáceres assured that the four warehouses (A, B, C, and G) are slated for completion between November and early December. He noted that one warehouse is nearly finished, and the largest one, designated for events, is also nearing completion. However, the initial plan promised a significant overhaul, requiring an investment of over $5 million from Nuevo Mundo Entertainment SA to bring the warehouses up to standard and develop the planned facilities.

Nuevo Mundo Entertainment SA, established in 2015, partnered with Ueno Bank shortly after securing the ANNP contract, with the bank becoming the "official sponsor" of the Puerto de Asunción. Critics point to the slow pace of development and the lack of public information regarding the final tenants for the commercial spaces, raising questions about the project's future and the ANNP's oversight.

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The four warehouses are being worked on, and one warehouse is already almost finished. The largest of all, which is warehouse G, which will be for events, that one is already almost finished.