Team size: Ten

Major legal advisers: Lovill (Panama), BLP Legal (Costa Rica), Garrigues (Colombia)

What are the most significant cases or transactions in the LATAM region that you or your legal team has recently been involved in?

I have recently been involved in establishing of our corporate structure in LatAm and coordinated several real estate acquisition processes to develop our projects with a development value of approximately US$55 million. As these acquisitions were UDI Group’s first ever in LatAm, we had to proceed cautiously and deliberately.

At the same time, we needed to acquaint ourselves very quickly with local particularities, laws, and the business culture to successfully complete the acquisitions. Given these circumstances, the entire process was challenging and time-consuming. As there were travel restrictions, we used various online platforms to hold meetings. I must admit that the team is proud that these projects have been completed.

What are your organisations plans in the LATAM region over the next 12 months and how will your legal expertise help to achieve these plans?

There is much work to be done. Our Group would like to continue developing residential projects in Panama City, Panama and San José, Costa Rica, that is, complete designs with architects, apply for construction permits, hire a general construction supplier, project manager, and start the construction. Additionally, we aim to secure financing from banks to diversify our financial resources. If the development process is fast, our objective is to start the sale of residential units. I will be responsible for overseeing the legal and corporate aspects of these projects.

Simultaneously, we are actively looking for new potential projects in Costa Rica, Panama, and Colombia with the aim of expanding our presence in the region, including within the hospitality sector. Depending on the future of the market, we would like to cooperate with foreign investors and real estate investment groups. If this happens, we will need to negotiate and close all JV structures and related legal matters. Negotiating a JV agreement is a very dynamic process, requiring business knowledge and a business-oriented approach. I also plan to travel to meet our partners in person more frequently than before to maintain closer and more open business relationships. I am looking forward to the next few months!

How do you adapt your legal counselling to align with the diverse business practices and customs of various LATAM countries?

It generally takes time to digest the legal details of each country. We use legal and market reports from various business and legal advice providers. We then organise online meetings to receive comprehensive answers to most of our queries. Since the principles of project development are very similar in European and Latin American countries, we more less trust the advice of our local legal advisors as well as our common sense. Personally, I find the process of understanding the specifics of the region very interesting and challenging at the same time. This is what I like the most.