Santa Cruz allows foreign-owned firm to buy land in protected Magallanes Peninsula
Governor Claudio Vidal signed a one-time exception to a 2017 ban, enabling a Dubai-linked company to purchase property for an eco-tourism project near Perito Moreno Glacier.
KEY POINTS
- Decree 915/26 permits a one-time exception to the 2017 ban on foreign land ownership in protected areas.
- Buyer ASB Hospitality Calafate SAU is wholly owned by a Dubai-based entity formed two months prior.
- The land is located in Península de Magallanes, facing Perito Moreno Glacier.
- Project "Master Plan Ecocentro" includes 24 eco-cabins and three hiking trails.
- Local business, tourism, and environmental groups oppose development in the pristine area.
Santa Cruz Governor Claudio Vidal signed Decree 915/26 on September 1, authorizing the sale of a parcel inside the Península de Magallanes protected area to ASB Hospitality Calafate SAU. The decree grants a one-time exception to a 2017 provincial law that bars foreign ownership of land in protected zones.
The buyer, ASB Hospitality Calafate SAU, was incorporated on July 27, 2026, with a capital of 30 million pesos. Its sole shareholder is ASB Hospitality LLC, a company registered in Dubai, United Arab Emirates, which belongs to the Albwardy Investment group.
“The exception is granted "for a single time and with strictly exceptional character" and cannot be used as a precedent.”
The transaction involves current owner Lacustre del Sud S.A. and is explicitly tied to the "Master Plan Ecocentro" tourism project. Plans include 24 eco-cabins and three low-difficulty hiking trails on the property facing Perito Moreno Glacier.
The decision sparked controversy in El Calafate among business, tourism, and environmental sectors. These groups have historically opposed development in the area to keep the ecosystem in its original state.
Albwardy Investment operates luxury hotels under brands such as Four Seasons, Hyatt, and Meliá. In Argentina, the group already owns the Four Seasons Hotel Buenos Aires and the Gran Meliá Iguazú inside Iguazú National Park.
2 more sources below
COMMENTS (0)
No comments yet. Be the first.
RELATED STORIES
Romanian President Dan to Address Political Crisis at Cotroceni Press Conference
President Nicușor Dan will answer four questions on Romania’s financial situation, rating agencies, AUR governance, and early elections.
Lahore tops world pollution list as AQI hits 590
Lahore ranked as the world's most polluted major city as hazardous smog blanketed the provincial capital.
US Representative Massie introduces eight-article impeachment against Defense Secretary Hegseth
Congressman Thomas Massie accuses Pete Hegseth of eight impeachable offenses, including unauthorized wars and civilian casualties, while President Trump defends him.
- Istanbul Investigation File on Mustafa Sarigul Sent to Ankara
- BJP labels Sonia Gandhi memoir whitewashing over Emergency remarks
- Spain's Supreme Court Rejects Vox Bid to Bar Grandchildren of Naturalized Citizens from Voting on Nov. 29
- São Paulo prosecutors charge Milton Leite and 13 others over PCC bus scheme
- Canary Islands declare migration emergency as thousands arrive in November
This page was compiled with AI assistance from the outlets named above and passed an automated language check before publication. Montegre has no reporters of its own; the byline names the outlets the story was compiled from. Method and editorial standards