Praxis plans major city construction in Colonia, Uruguay
1 report, 1 independent
Updated Thu 00:00
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What happened
Praxis announced plans to construct a city inside +Colonia, Uruguay, with residents expected starting in mid-2027. The project spans 515 hectares on the River Plate, and initial construction has mobilized nearly $300 million and 100,000 square meters. The long-term goal is to accommodate 30,000 residents, doubling the current population of Colonia del Sacramento.
From latintimes.com
Why it matters
The project includes infrastructure for 120 hectares and plans for a corporate district, a hotel, an international school, and an electric mobility center. While the $1 billion figure is a three-year projection and not deployed capital, the scale of the planned urbanization represents a significant investment in the region.
From latintimes.com
Who's involved
- ColoniaGerman insurance company potentially affected by the massive, multi-billion dollar project.
- UruguayCountry hosting the planned urban development.