Electricity distribution company Edemsa approves electrical infrastructure for new luxury hotel and residences in the project, as well as village lots
MIAMI, FL/ACCESSWIRE/June 23, 2022/ Gaucho Group Holdings, Inc. (NASDAQ:VINO), a company that includes a growing collection of e-commerce platforms with a focus on fine wines, luxury real estate, leather goods and accessories, today announced that its proposed luxury winery development, Algodon Wine Estates, received electrical master plan approval from Edemsa. Algodon Wine Estates is a 4,138-acre winery, wellness, culinary and sports estate and luxury residential development, in San Rafael, Mendoza, Argentina.
Edemsa (Empresa Distribuidora de Electricidad Mendoza SA) is an electricity distribution company serving 11 departments in the Argentine province of Mendoza. The firm provides services to over 400,000 mostly residential clients. It operates a 940 km high voltage network, a 7,815 km medium voltage network and nearly 17,000 km of low voltage network.
As previously announced, this stage of the master plan was designed by architectural planning and design firm EDSA, whose work spans more than 5,000 projects in more than 100 countries. EDSA’s vision for Algodon Wine Estates is to continue the development of the estate’s award-winning vineyard with a focus on the existing winery and 1946 vines, local Mendocino culture, and land, amenities and features. existing in the domain.
The master plan includes the development of 200 additional lots, ranging in size from 2.47 acres to 12 acres. The company predicts that sales of these additional lots could ultimately generate more than $100 million in revenue. The centerpiece of the master plan is an ultra-luxury 80-bedroom hotel, which will also include 40-60 residences, for which Algodon Wine Estates is seeking to co-develop with a world-class luxury hotel brand. The revenue potential of hotel rooms and branded residences could generate an additional $25 million per year.
The expanded master plan includes a 27-hole championship-style golf course, championship-style tennis facilities, a centralized village center and sports club, and an equestrian facility which will include a riding and riding center. ‘coaching. Other highlights of the plan include an organic farming area, as well as organic fruit orchards, a boutique distillery, organic/seasonal restaurants, lavender and rose gardens, and various hiking trails, mountain biking and walking routes that connect the social and residential areas across the entire estate.
“This is a big step forward in our efforts to expand Algodon Wine Estates,” said Scott Mathis, Managing Director of Gaucho Group Holdings, Inc. “We now expect to further define the plan of electrical development for each area, including our upcoming Luxury Hotel & Residences, as well as approximately 45 new Village Lots and possibly more. We plan to prepare the plan with our engineers over the next 3 to 6 months.
About Gaucho Group Holdings, Inc.
For more than ten years, Gaucho Group Holdings, Inc. (gauchoholdings.com) has a mission to seek out and develop opportunities in the undervalued Argentine luxury and consumer real estate market. Our company has positioned itself to take advantage of the continued and rapid growth of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury goods and experiences across lifestyle industries and sought-after retail landscapes. With a focus on great wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com) and luxury real estate (algodonwineestates.com) associated with our proprietary brand Algodon, as well as leather goods, ready-to-wear and accessories from the fashion brand Gaucho – Buenos Aires™ (gaucho.com), these are the luxury brands in which Argentina finds its contemporary expression.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact included in this press release may constitute forward-looking statements. and do not constitute warranties. future performance, conditions or results and involve a number of risks and uncertainties. Actual results may differ materially from those in forward-looking statements due to a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no obligation to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.
Gaucho Group Holdings, Inc.
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