Paraguay’s Boom Has Yet to Fully Deliver
A year after reaching investment grade, the country is growing fast but many Paraguayans feel left behind.
ASUNCIÓN—Distrito Perseverancia has been billed as “a city within a city.” The $300 million private development, due to open later this year in Paraguay’s capital, will include boutiques, restaurants, 20 corporate towers, and apartment blocks containing penthouses worth $700,000. Not far away is the $70 million Petra Imperiale that promises “resort living” amid Roman-style fountains and sculptures in 400 apartments across 73 floors, which would make it the fifth-tallest building in South America. The projects—part of the dozens of real-estate developments transforming the...
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