# Jaime Garbarsky: Long-Term Strategy Essential for Argentine Real Estate Grupo Ecipsa president emphasizes innovation and self-financing amid persistent credit market limitations. - **Source:** [Perfil](https://www.perfil.com) - **Published:** 2026-11-09 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/46282305-8d53-463d-bed6-fb1875ba367b ## Market Challenges in Argentina The Argentine real estate sector faces significant structural hurdles, primarily due to the scarcity of long-term financing for developers. Jaime Garbarsky, president of Grupo Ecipsa, notes that while mortgage credit has shown growth, it remains insufficient to fully revitalize private construction projects compared to regional standards in neighboring countries. ## The Need for Differentiation Garbarsky argues that developers must move beyond traditional offerings to stimulate demand in a complex economic environment. By creating unique residential products that lack direct market comparables, companies can justify higher valuations and maintain project viability even when macroeconomic conditions are not optimal for the broader construction industry. ## Self-Financing as a Necessity Because institutional credit remains limited, construction firms cannot afford to wait for improved financial conditions to resume operations. Garbarsky emphasizes that companies must adopt internal self-financing mechanisms to sustain their investment pipelines. This proactive approach allows developers to continue executing projects while anticipating the eventual return of robust mortgage credit. ## Case Study: MilAires Project The MilAires residential development in Villa Devoto serves as a primary example of this strategy. With an initial investment exceeding 140 million dollars, the project features 871 units and extensive amenities. The development successfully transitioned from an initial price of 1,800 dollars per square meter to over 4,000 dollars currently. ## Value Creation Through Amenities The project integrates 50 distinct amenities, including coworking spaces, spas, and gourmet salons, across 17,250 square meters of green space. By combining traditional housing with high-scale services, the firm creates a unique residential experience. This strategy has proven effective, as over 85 percent of the masterplan units are already sold. ## Economic Impact of Construction Construction remains a vital engine for the Argentine economy due to its capacity to generate significant manual labor employment. Garbarsky highlights that the sector has the power to transform entire neighborhoods through large-scale projects. Despite current slowdowns, the industry's role in urban development remains a critical pillar for national growth. ## Long-Term Market Outlook Despite the current economic volatility, Garbarsky maintains a positive outlook on the existence of investment opportunities in Argentina. He insists that success depends on the ability to look toward the long term rather than reacting to short-term fluctuations. Understanding market trajectories is essential for identifying viable projects in challenging times. ## Future Industry Expectations Garbarsky remains convinced that mortgage credit will eventually return with greater force to the Argentine market. Until that happens, the focus remains on product differentiation and operational resilience. Developers who successfully adapt their business models to current constraints are better positioned to capture value when the broader financial landscape improves. ## Sources covering this story - https://perfil.com/cordoba/garbarsky-en-argentina-siempre-hay-oportunidades-pero-hay-que-saber-mirar-a-largo-plazo-aCm8n7t4BTT8 — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._