ES · EN
Salinas
Architecture and Developments
La Barra · Manantiales · José Ignacio
Uruguay
Projects 2026 — Confidential
Investment Portfolio · 5 Projects

Projects
2026

La Barra, Balneario Buenos Aires, La Juanita and Ruta 104 — residential and urban developments in South America's most dynamic corridor.

USD 39.7M
Total portfolio
investment
USD 72.1M
Estimated total
sales
5
Projects
in portfolio
100%
Equity · Un-
leveraged

"A portfolio built on strategic land, solid financial structures and architecture that adds differential value to the East Coast market."

Salinas Architecture and Developments · 2026
01 — Portfolio Summary

The 5
Projects

Five developments in presale and direct sale stages, structured at 100% equity. Horizon of 3 to 4 years. Weighted average IRR above 30% per year.

Project
Investment
Est. Sales
IRR
NPV (12%)
Payback
La Barra
La Barra · Maldonado
USD 9.13Mland 4,545 m²
USD 14.18Msellable area 4,090 m²
56% p/year
USD 2.48M
2.5 years
Balneario Buenos Aires
Manantiales · Uruguay
USD 11.05Mland 2,400 m²
USD 14.26Msellable area 3,480 m²
65% p/year
USD 1.76M
3.5 years
La Juanita
José Ignacio · Uruguay
USD 3.90Mland 1,425 m²
USD 5.40Msellable area 1,353 m²
53% p/year
USD 0.78M
Year 1–2
Ruta 104 — Private Community
Manantiales · Ruta 104
USD 9.33M43 ha · 65 lots
USD 19.35Mdeveloped lots
25% p/year
USD 3.48M
3.2 years
Ruta 104 — Medellín
Manantiales · Ruta 104
USD 7.90M42 ha · 65 lots
USD 19.35Mdeveloped lots
31% p/year
USD 4.68M
3.2 years
02 — Projects in Detail

Investment
Profiles

Each project structured at 100% equity, with no leverage. Presale + direct sale. Architecture and development by Salinas Architecture and Developments.

La Barra · Maldonado · Uruguay
01
La Barra
Residential Development · Presale + Direct Sale
Land 4,545 m²
Sellable Area 4,090 m²
Horizon 3 years
Structure 100% Equity — Unlevered
Key Financial Indicators
Total Investment
USD 9.13M
Estimated Total Sales
USD 14.18M
Annual IRR
56%
Estimated annual internal return
NPV at 12%
USD 2.48M
Net present value
Estimated Payback
2.5 years
Balneario Buenos Aires · Manantiales · Uruguay
02
Balneario Buenos Aires
Residential Development · Presale + Direct Sale
Land 2,400 m²
Sellable Area 3,480 m²
Horizon 3.5 years
Structure 100% Equity — Unlevered
Key Financial Indicators
Total Investment
USD 11.05M
Estimated Total Sales
USD 14.26M
Annual IRR
65%
Estimated annual internal return
NPV at 12%
USD 1.76M
Net present value
Estimated Payback
3.5 years
La Juanita · José Ignacio · Uruguay
03
La Juanita
Residential Development · Presale + Direct Sale
Land 1,425 m²
Sellable Area 1,353 m²
Horizon 3 years
Structure 100% Equity — Unlevered
Key Financial Indicators
Total Investment
USD 3.90M
Estimated Total Sales
USD 5.40M
Annual IRR
53%
Estimated annual internal return
NPV at 12%
USD 0.78M
Net present value
Estimated Payback
Between Year 1 and Year 2
Ruta 104 · Manantiales · Uruguay
04
Ruta 104
Private Community
Developed Lots + Infrastructure · PAI
Land 43 hectares
Number of Lots 65 lots
Land Use Potentially Transformable Rural (PAI)
Horizon 4 years
Structure 100% Equity — Unlevered
Key Financial Indicators
Total Investment
USD 9.33M
Estimated Total Sales
USD 19.35M
Annual IRR
25%
Estimated annual internal return
NPV at 12%
USD 3.48M
Net present value
Estimated Payback
3.2 years
Ruta 104 Medellín · Manantiales · Uruguay
05
Ruta 104
Medellín
Developed Lots + Infrastructure · PAI
Land 42 hectares
Number of Lots 65 lots
Land Use Potentially Transformable Rural (PAI)
Horizon 4 years
Structure 100% Equity — Unlevered
Key Financial Indicators
Total Investment
USD 7.90M
Estimated Total Sales
USD 19.35M
Annual IRR
31%
Estimated annual internal return
NPV at 12%
USD 4.68M
Net present value
Estimated Payback
3.2 years
03 — Consolidated Portfolio

Portfolio
Numbers

The sum of the five projects consolidates an institutional-scale investment opportunity, with above-market returns and geographically distributed risk.

Total Portfolio Investment
USD 39.71M
5 projects · 100% equity · no financial debt
Estimated Total Sales
USD 72.14M
Sum of projected sales across all 5 developments
Weighted Avg. IRR
~42%
Range: 22% – 65% per year by project
Total NPV (12%)
USD 13.13M
Consolidated net present value at 12% rate
Average Horizon
3.4 years
Average payback between 2.5 and 3.5 years
04 — Project Structure

Investment
Model

All projects share a conservative, market-proven financial structure in Uruguay.

🏗️
100% Equity, No Debt
None of the projects operate with financial leverage. The investment structure is 100% equity, eliminating refinancing risk and reducing exposure to interest rate volatility. The investor knows their exact participation from day one.
🏘️
Presale + Direct Sale
The sales strategy combines presale to finance the construction stage and direct sale to capture the market price at delivery. This model reduces locked capital and accelerates investment recovery, with paybacks starting from 2.5 years.
📐
Architecture as Differentiator
Salinas Architecture and Developments provides design, permits management and construction supervision as an integral part of each project. Architectural quality is not an additional cost — it is the pricing argument that justifies the premium positioning in each zone of the corridor.