This article came out on Friday September 20th of 2013, in the supplement “Companies and Businesses” of the “Crónicas” Weekly.

Campiglia Constructions Company is one that is betting on projects covered under this law. "The company, in its 34 years of existence, has carried out projects for all types of public, therefore, we saw an opportunity to be able to continue offering housing solutions to many of our customers, either to live in and to invest with security." said Alejandra González from the Commercial Department of the company.

They are currently marketing four projects approved under the 18.795 law of the Ministry of Housing and the National Housing Agency. The first was launched on August of 2012, its name is “Vitis” and it is located on Prado neighborhood on the corner of Millán Ave. and Vilardebó Street. The second project was “El Roble”, which is located on the edge of the neighborhoods Aguada and Goes, at the corner of Millán Ave. and San Martin Ave. The third, released this year, was “Estrellas del Sur” which is a real estate development that is located in the neighborhoods of Barrio Sur and Palermo, in the former factory Strauch. It covers the entire block: Isla de Flores Street, Ejido Street, Gonzalo Ramírez Ave. and Dr. Aquiles Lanza Street. The set includes more than 300 apartments of one, two and three bedrooms and commercial premises. It also includes an internal recreational space between the towers and the Zitarrosa Square limiting Aquiles Lanza Street, which is a new challenge for the company. Finally, a month and a half ago, they carried out the launch of the fourth project approved under the new law, its name is Thays and it is located in Batlle Park on Italia Ave. at the corner of Francisco Simón Street. "We also have several projects standard by this law, for which we are preparing their launch -for example, “Torre Modelo” in La Blanqueada neighborhood- and some others that we have displayed at the ANV and we hope satisfy their approval process."

Gonzalez said that the evaluation of the law is "very positive" as it has encouraged the housing construction level average which otherwise would not be possible because of expensive construction costs. "With the benefit that offers this law, either to people who buy the houses as to companies, prices and payment methods have eased and it has made it possible that people who previously could not obtain their own house, now can see it as a real possibility," she described.

One of the benefits that Campiglia Constructions has with the law is to maintain the pace of construction that are used to and continue generating jobs to many people, with a long-term vision. On the other hand, this law allows companies the exoneration of IVA tax. "In our case, we transferred this benefit to the price of the apartments, which allows that the prices to be more reasonable and there are more people with the possibility to access to the purchase of their first home, or the median investor access to buy an apartment that will generate incomes and greater economic tranquility", explained the interviewee. Another benefit is that if the company could not sell the units after finished the building, "stock" ones would not reckon for heritage and can be rented without paying renting tax.

On the other hand, the market reaction was immediate; the replies have been listed as "very good". The company has made agreements with both public and private banks. They also have their funding for the projects they are marketing. "We try to adapt to the needs of our customers, therefore we also have apartments that fall within the “Fondo de Garantía de Créditos Hipotecarios” and the “Yo Ahorro” plan that offers the BHU", said González.

Source: Empresas y Negocios del Semanario Crónicas