In 'El Club del Ladrillo,' Proaco's CEO reviewed his history and the impact of social media on the real estate sector
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Lucas Salimwas welcomed by Beltrán Briones and Nico Kiperszmid in a new edition of El Club del Ladrillo.Proaco's CEO outlined his vision of real estate development in Córdoba to the hosts. The extensive conversation covered everything from his beginnings during the crisis to the current state of the sector.
The businessman described how he turned the 2001 collapse into a business opportunity for the private sector. He recalled that savings were trapped in the Corralito and lost value day by day due to inflation. The regulations allowed those funds to be released only if they were productively invested in new construction.
When asked by Briones, Salim explained that he sought out desperate investors to capitalize on private projects. He started by building houses in gated communities, taking advantage of the low dollar costs during that critical time. That youthful boldness allowed him to grow and build capital when the financial market was paralyzed.
The origin of venture capital
Salim recalled the era of provincial bonds and the lack of liquidity that suffocated the real economy. Despite his young age, he managed to convince fixed-term deposit holders to turn to real estate. It was a market solution to the State's inefficiency in guaranteeing deposit ownership.
The initial business consisted of buying lots that were worth a fraction of what they cost today. Building a house cost about twenty thousand dollars and could be sold for twice as much on the secondary market. Rapid capital turnover was the key to generating his own wealth without external debt.
Over time, the developer shifted toward residential complexes to gain scale and operational efficiency. He understood that logistics was vital and that grouping homes significantly reduced costs. This is how he managed to position himself over the years as one of the largest builders in Córdoba province.
El CEO de Proaco desglosó su visión sobre el desarrollo inmobiliario en Córdoba ante los anfitriones.
His market insight sharpened as he linked office development to GDP growth. He noted that when the free economy grows, companies demand space, so he invested in that segment. He used industrialized construction systems to erect large-scale buildings in record time.
Salim explained that precast concrete technology is essential to avoid depending on traditional timelines. While earthworks are underway, the structures are manufactured in an industrial plant. This allows a complete building to be assembled in a matter of days once the foundations are ready.
However, he detailed how the lack of mortgage credit holds back the industry's true potential. He explained that the company must finance projects at the pace of client payments, which is inefficient. This disconnect creates downtime that increases the final price of homes for people.
State obstacles and hidden costs
The CEO criticized the additional costs caused by bureaucracy and exchange rate instability in Argentina. Keeping a project on hold means paying for security and taxes without generating any real added value. Those costs are passed on to the buyer, who ends up paying for the public system's inefficiency.
He also pointed out import restrictions that have affected the sector in recent years. He cited as an example the ridiculously low price paid for digital locks due to border closures. The lack of external competition forced the consumption of expensive local products or overpriced imports.
Salim welcomed the current trade liberalization that allows access to higher quality supplies at reasonable prices. He asserted that free competition and access to the world will directly benefit the end consumer. The possibility of importing Chinese or European technology will revolutionize local construction standards.
Salim celebró la apertura comercial actual que permite acceder a insumos de mejor calidad a precios lógicos.
Digital convergence and real estate
In the conversation with Beltrán Briones, a pioneer in connecting networks and business, the value of communication was highlighted. Salim explained that showing the raw reality of projects generates genuine trust among investors. This digital strategy makes it possible to validate real demand before launching new real estate projects.
Social media now functions as a real-time, zero-cost market study for the company. Before breaking ground, renderings are released to measure interaction and interest from potential clients. If the market doesn't validate the product digitally, the course is corrected before capital is committed.
For entrepreneurs, the advice was to take calculated risks when there is nothing to lose. He recommended avoiding excessive analysis that leads to paralysis and focusing on constant action to gain experience. He maintained that the Argentine market rewards those who persist and bet on private enterprise.
Future and growth expectations
Looking ahead, Salim expressed optimism about the normalization of the economy by 2026. He projects that stability and access to global supplies will strongly boost private activity. Lower inflation will allow credit for long-term home purchases to reappear.
The businessman concluded that efficiency will be the only way to compete in an open and transparent market. Companies that do not modernize their processes will be left out as new standards emerge. "Córdoba has all the potential to lead this stage of national real estate modernization."
Salim explicó que la tecnología de hormigón prefabricado es fundamental para no depender de los tiempos tradicionales.
