Torres Cardinal

Torres Cardinal represents the most pragmatic side of the eastern boom: quality housing between Punta del Este and Maldonado, on the Roosevelt corridor where the city lives year-round. The Liderus complex consists of four towers of 13 floors; the first two are already delivered, sold and occupied, and the second stage is progressing with 140 apartments ranging from studios —from 47 m²— to four bedrooms. Its big selling point is the promoted-housing regime: up to ten years of tax exemptions that make gross rental yield equal to net, around 4,5% to 5% per year. For those betting on Maldonado's record population growth and the decentralization of Montevideo, it's one of the most direct investment vehicles in the area.

The complex by architect Marcelo Armas Aguirre comprises four towers of 13 floors joined by a private, landscaped central park. The first stage — South and West towers, 116 units — is finished, sold and fully occupied; the second adds 140 apartments in the North and East towers, ranging from studios of 47 m² up to four-room units. All units come with an included basement parking space and closets in every room, with heavy-duty window frames, double glazing in the living rooms, blinds in the bedrooms and separate laundry rooms. Two-bedroom units go up to 79 m² with spacious living rooms, and the developer offers full virtual tours of the main unit types on its website.

Torres Cardinal occupies the corner of José Dodera and 3 de Febrero, one block from Avenida Roosevelt and a few blocks from the Mansa at parada 20, right on the hinge between Punta del Este and Maldonado. It's the geography of everyday life: supermarkets, medical centers, offices, shops, the bus terminal and the airport 13 kilometers away, in an area that lives and works year-round. The complex includes commercial spaces, panoramic rooftops with barbecue areas, fully equipped event rooms, a kids area, bike racks, storage boxes and closed-circuit camera security, with a central garden that serves as a shared green lung among the four towers.

The financial argument is the most straightforward in the eastern market: the promoted-housing regime grants up to ten years of tax exemptions, so gross rental yield practically matches the net figure, estimated at between 4% and 5% a year in an area with high rental demand and low building fees. On top of that comes direct financing from Liderus: up to 50% of the value post-occupancy over a term of up to 36 months at a low rate on the balance, plus significant discounts for those who pay 100% during construction. With the first stage fully occupied as proof of how it works, product risk is minimal for anyone buying into the Norte and Este towers.

• Complex of 4 towers with 13 floors: first stage delivered, sold and occupied
• Second phase under construction with 140 apartments
• Promoted-housing regime with up to 10 years of tax exemptions
• Estimated net yield of 4,5% to 5% annually for investors
• Five minutes from Punta del Este and close to Mansa
• Second phase: 140 apartments (studio, 1, 2 and 3 bedrooms) in 2 towers of 13 floors and a third central tower of 4 floors
• Project of 256 apartments in total; 3.000 m² of private park
• Covered by the Promoted Housing Law 18.795