Cipriani asks for more time to develop casino resort in Punta del Este

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The developer of a proposed casino resort in Punta del Este, Uruguay, has asked the local government for more time to start construction work of the Cipriani Ocean Resort, Club Residences & Casino, which will be located on the land traditionally occupied by the Hotel San Rafael.

The Maldonado Mayor’s Office had shown concerns around the company not moving forward with construction work and called for a meeting with Giuseppe Cipriani, the Italian businessman in charge of the project.

In response, Cipriani requested “patience” from the Uruguayan government, as he explained that the pandemic has hindered the “mobilization of the capital” and, consequently, the development of the projects that they are working on.

Moreover, councilors have asked for “certainties” on whether the project will be carried out. Officials explained that if there are no guarantees that the work will be done, they will vote against the modifications presented by the company weeks ago.

Additionally, the Mayor requested “a written note with missing data to analyze the latest project presented by the investor group”, according to La Diaria Maldonado, as well as a signed agreement with the Ministry of Economy and Finance to finalize the tender process.

In this regard, the director of the Urban Planning department of the Municipality of Maldonado, Soledad Laguarda, said that “at the moment, there is no information on what the final cost of the investment will be or when the work would start”.

The Municipality of Maldonado received the proposals, complete with modifications, at the beginning of April. Once approved, the complete project will be sent to the Departamental Board for a final nod.

The new casino resort will feature three luxury towers. Contrary to the original project, these towers would have many floors and would be built in more phases, with the first one being installed in a span of three years. During this first phase, the company would also build a 5-star hotel, casino, complementary services and parking lots.