ERA Real Estate Signs Agreement in Uruguay
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ERA Real Estate Signs Agreement in Uruguay

December 16, 2022 // // MADISON, N.J. - ERA Real Estate announced today the signing of a master franchise agreement for Uruguay with developer Kopel Sánchez and Rutland S.A.

Kopel Sánchez was started 21 years ago by founders Fabián Kopel and Sebastián Sánchez. The company is focused on developing housing stock in existing and emerging areas of the country.

Rutland S.A., led by owner Ernesto Orosman Gomez and CEO Francisco Manuel Gomez Mansilla, also serves as the brokerage operations for ERA Paraguay.

Wilder Ananikian, a successful real estate entrepreneur with more than 30 years of experience in brokerage in the markets of Montevideo and Punta del Este, past-president of CILA, Latin American Real Estate Confederation and past-president of CIU, Camara Inmobiliaria Uruguaya, will assume the position of president of ERA Uruguay. The main office of ERA Uruguay is located at 2842 Bulevar España, in the Pocitos neighborhood of Montevideo, the country's capital.

Uruguay has become a "mecca" for real estate development across the entire region thanks to its public policies, stable economy, and tax benefits. The citizens of Uruguay view housing as a right guaranteed by their constitution. There are considerable opportunities for developers to meet Uruguay's current housing demands due to the estimated housing deficit of approximately 65,000 homes and the government's recent commitment to investing in the country's road infrastructure that will make many of the country's regions more accessible.

According to Uruguay's National Housing Agency, in 2021, a total of 43,021 home sales were made throughout the country: 33% from Montevideo, 17% from Maldonado and 50% throughout the rest of the country. Prices also increased 5%, bringing them back up to pre-pandemic levels. 



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