JHSF acquires Enjoy Punta del Este for $160 million
The Brazilian real estate group JHSF announced the acquisition of the entire share capital of Baluma, the company domiciled in Uruguay that owns the Enjoy Punta del Este complex. The operation, approved by the Central Bank of Uruguay, was finalized for 160 million dollars from the Chilean company Enjoy. With this acquisition, the Brazilian company aims to redevelop one of the country's main tourism and entertainment assets, in what company sources described as a key destination due to Punta del Este's potential.
The acquisition was made through JHSF Península, a company within the economic group that controls JHSF. The chairman of JHSF's board of directors, José Auriemo Neto, announced that the venue will be renamed Fasano Península. The plan includes a significant expansion of the asset, with a new Fasano hotel, a shopping center with approximately 50 stores and restaurants, mostly international, the existing casino, and new residential units. The first phase, already under the Fasano brand, is scheduled for the end of this year, and the second, with the complete project, for the end of 2027. With this investment, according to the statement, JHSF reinforces its presence in the Uruguayan market, where it has already operated the Fasano Punta del Este Hotel for over 15 years.
This move redefines the role of the casino within the complex. In an interview with Forbes Uruguay in April, JHSF CEO Augusto Martins explained that the casino remains a relevant component with a strong tradition within the asset, but it will no longer be the sole focus of attraction, becoming part of a broader offering where different experiences coexist and complement each other. According to Martins, the new project has a more urban dynamic and a greater diversity of experiences, which expands the high-net-worth audience and usage occasions.
The executive also highlighted the country's conditions for this type of development. He stated that Uruguay brings together important attributes such as stability, legal certainty, and a favorable investment environment, which create a solid foundation for projects of this nature.
Tags: JHSF, Enjoy Punta del Este, Fasano Peninsula, acquisitions in Uruguay, José Auriemo Neto