Leading Individuals

Rising Stars

Real estate in Bolivia

Indacochea & Asociados

Indacochea & Asociados‘ strong real estate team advises clients on the development and financing, as well as the sale and purchase, of property. Anwar Farah is a specialist in the practice area and leads the team, assisting clients with a range of real estate procedures, such as mergers, subdivisions and the restructuring of real estate projects. He also advises investors, and has been actively assisting clients with urbanisation projects, particularly in Santa Cruz. Maria José Martinez, who was raised to the partnership in December 2022, supports clients in the commercial, hotel and agro-industrial industries, from the selling of urban and rural land, to the purchase and lease of commercial properties. At the associate level, Fabiana Vaca Pereira carries out processes related to the regularisations and transfers of real estate. Alejandra Suarez advises clients on the acquisition, development, financing, sale and lease of real estate, and on obtaining licenses, permits and authorisations before national and departmental authorities.

Practice head(s):

Anwar Farah


The Indacochea & Asociados real estate team, led by Anwar Farah, is probably the best team in this specialty in the country. It has in-depth knowledge of all legal and regulatory aspects for transactions of this type.

The team has extensive knowledge of the laws and contacts at all levels of regulatory entities for these types of operations (tax, municipal, state). The lawyers not only know the theory, but also have a very practical knowledge of what is feasible, and the best structures used for this type of operation.

Key clients


Inversiones CYA

Klinsky Family

Work highlights

  • Advising Msinlot on the urbanisation of two plots of land: 20 hectares located in the Municipality of Warnes, and 243 hectares located in the municipality of Cotoca.
  • Advising Watch Tower Bible and Tract Society of Pennsylvania on the sale of 46 units that compose the Jazmin apartment building.
  • Assisting the Klinsky family with drafting purchase and sale agreements, capital contributions, and registration and registration of ownership rights for approximately 11 properties.

Moreno Baldivieso Estudio De Abogados

Boosted by its expertise in corporate and finance matters, the team at Moreno Baldivieso Estudio De Abogados has recently participated in key real estate transactions in Bolivia. The group assists national and international clients, such as the Claure Group and the US Embassy, with large-scale development projects, purchases and sales. The team also offers advice on the administration of real estate assets to developers, investors, resource managers and companies. Practice co-head René Cuellar has extensive experience in real estate matters, including complex constructions and engineering transactions. He leads the team alongside Teddy Mercado and Luis Moreno, who has participated in high-value real estate transactions, advising major companies in the industry. Delfor Zapata is an experienced litigator, handling disputes related to land ownership, multi-party land disputes and possessory actions. Associate Juan Diego Cuellar advises clients on real estate M&A projects, and the division and partition of real estate properties, as well as constitution and cancellation of liens and mortgages.

Practice head(s):

René Cuellar; Luis Moreno; Teddy Mercado

Key clients

Claure Group

Drogueria Inti

Industrias Venado

Compañía de Jesús

Millicom International Cellular


Embassy of the United States of America

Phoenix Towers Bolivia

El Deber

Tienda Amiga

Work highlights

  • Advising Bisa on a dispute over land valued at $8m.
  • Advising Droguería Inti on a regularisation of its proprietary right over a drug manufacturing plant.
  • Acted for the US Embassy on the acquisition of a residential property in the city of La Paz, to become the official residence of the US Ambassador in Bolivia.

Criales & Urcullo

Supported by its banking and finance practice, Criales & Urcullo‘s real estate team offers multidisciplinary advice to clients on real estate investment funds in Bolivia. The firm has an intricate knowledge of real estate regulations and specialises in registering property for investment funds and international clients. The real estate team regularly advises clients for a project’s duration, which includes assistance with the planning, negotiation and drafting of necessary documents, and advice on tax planning. José Antonio Criales heads the team, along with Adrián Barrenechea, who regularly leads advice to the firm’s largest clients on real estate projects and transactions, and David Alcozer Alcón, who is noted for his ability to structure business models in the real estate market.

Practice head(s):

José Antonio Criales; Adrián Barrenechea; David Alcozer Alcón


I think they have a very interesting practice. Particularly because they have a specialist partner in procedures related to real estate law. That could be the differentiator.

I consider that they are responsible lawyers with their opinions. They also provide quality services to their customers.

Key clients

Fibra Gestión de Inversiones Inmobiliarias

Lakauta Bienes Raices

Entrevigas Bienes Raices

Inmobiliaria e Inversiones Smart Upgrade

Ultragrupo Servicios Jardecome

Constructora Sorflo

Inversiones Inmobiliarias Atlantis

Guido Iriarte

Grupo Empresarial Lafuente

Work highlights

  • Advised Smart Group on three real estate projects totalling approximately $30m in value.
  • Advised Grupo La Fuente on its Nueva Santa Cruz project, including advice on land acquisition, project development, contract negotiations and commercial agreements.
  • Advised Entrevigas on the conceptual, legal, and financial structuring of a $40m real estate development project in the Urubó area.

Bufete Aguirre, Quintanilla, Soria & Nishizawa Sociedad Civil – (BAQSN)

Bufete Aguirre, Quintanilla, Soria & Nishizawa Sociedad Civil – (BAQSN)‘s real estate team handles the gamut of matters within the practice area, including title reviews, updating and regularisations. The firm prepares and registers a range of contracts, including transfer, lease, antichresis, constitution of guarantees and privileges. Recent areas of growth for the team include the management of buildings and the sale of multiple properties. The team is led by Santiago Nishizawa and Fernando Aguirre, who are supported by Gonzalo Prudencio.

Practice head(s):

Santiago Nishizawa; Fernando Aguirre

Key clients

JICA Bolivia

M40 Plaza Empresarial

Inmobiliaria Dagus

Work highlights

  • Advised Sociedad Salesiana on the strategy design and, subsequently, on the negotiation, drafting and closing of all necessary agreements for the sale of real estate.
  • Advised the Sauma Mendoza family on the sale of commercial property.
  • Advised Sociedad Salesiana on the preparation for the construction of an educational complex.

Dentons Guevara & Gutierrez

The real estate team at Dentons Guevara & Gutierrez has an in-depth understanding of property law regulations, and regularly performs due diligence processes for its clients. The firm offers advice on leasing and other transactions for the management of shares and rights related to properties, in both urban and rural areas. The team continues to assist a notable volume of clients from the agribusiness sector. The main partner contacts in the team are Jaime Lora, Primitivo Gutiérrez and Enrique Barrios. Senior associate Ana Lora is a further key name, with extensive experience in real estate, including the preparation of documents and sales contracts and the defence of client interests in judicial processes related to real estate.

Practice head(s):

Jaime Lora; Primitivo Gutiérrez; Enrique Barrios; Ana Lora

Work highlights

Medina, Galindo & Richter Abogados S.R.L.

Boutique corporate and commercial law firm Medina, Galindo & Richter Abogados S.R.L. advises clients on proprietary rights and real estate matters from its La Paz office. The firm’s real estate team advises clients on a range of relevant matters, including sale and purchase agreements, construction projects and due diligence processes. The group is led by Rodrigo Galindo Garrett and Sergio Medina Bozo. Fabiola Rivero Stumpf left the firm in June 2022.

Practice head(s):

Rodrigo Galindo Garrett; Sergio Medina Bozo

Key clients

Inypsa Informes y Proyectos

Amtrust Financial Services



Gitec – Igip

Constructora Interandes

China State Construction Engineering

Constructora Santa Fe

Constructora Arce Lema

BDO Bolivia

Desarrollador Inmobiliario Salinas (DISA)

Inmobiliaria Los Cipreses

Bera de Bolivia

Sociedad Ibérica de Construcciones Eléctricas

Grupo Inclam

Kieffer y Asociados S.A. Corredores de Seguros

Master Sense

Practical Action ONG

Vellisimo Center

Hunan Road and Construction Company

Procon Nerium

Marca Verde

Marco Infraestructura y Medio Ambiente


José Cartellone Construcciones Civiles

CRZ Construcciones

Pagos Electrónicos Khipu

Iberam Re Corredores Internacionales de Reaseguros

Exploraciones Maldonado


Frigorífico del Oriente

Compañía de Obras Civiles

Compañía Cervecera Boliviana

Sociedad Industrial Taunus

Dechini Dirección de Proyectos

Projecto Pacu Aquicultura

Grupo Hotelero Rosario

Componente Digital

Constructora Atacama

Desarrollador Inmobiliario Insal

Empresa Constructora Salina

Heinsohn Business Technology

Engecorps Engenharia

Aguilar Consultores

En Victoria

Importadora Kortabaco Bolivia

Construtora Norberto Odebrecht


Work highlights

  • Advised Grupo Incerpaz on proceedings before the Autonomous Municipal Government of Viacha and the real estate office, to obtain all legal papers related to the construction of a new factory and brick factory.
  • Assisted Cosapi with the due diligence for a building contact signed with The Church of Jesus Christ of the Latter Day Saints to build a new church and centre in the city of Santa Cruz de la Sierra.
  • Advised Constructora Interandes on its incorporation in Bolivia and on a capital increase operation.

PPO Abogados

PPO Abogados operates in the real estate sector, through its transactional, regulatory and dispute resolution teams, with particular strengths in permitting and compliance. The team advises site owners and investors, as well as regularly participating in M&A transactions, performing due diligence reviews of property documents and handling a full range of real estate contracts work. The firm’s litigators handle real estate contentious matters. Carlos Pinto, who focuses on financial and regulatory matters, is a key name, alongside public law expert Diego Böhrt, and Marcial Fernández, who has broad corporate and commercial expertise. At the senior associate level, Delma Paz and María René Suárez are names to note.

Work highlights

Serrate Paz y Asociados

At Serrate Paz y Asociados, Carola Constanza Serrate Tarabillo is the key contact for real estate matters. She specialises in real estate law, advising clients on the acquisition and selling of properties, as well as assessing the development of condominiums. The firm has recently developed its litigation practice in relation to real estate, with Codessa as a key client. María Lía Serrate Paz Ramajo and senior associate José Miguel Paredes Sánchez assist with disputes in the sector.

Practice head(s):

Carola Constanza Serrate Tarabillo


I have noticed its knowledge of the subject, and that it analyses the cases to define action strategies.

Professionalism, knowledge, kindness and teamwork are the most outstanding characteristics of Jose Miguel Paredes, with whom I had the opportunity to work.

The work format of Serrate Paz y Asoc. is pragmatic and direct to the point, they are always careful to thoroughly understand the entire object of the transaction and the profile of the participants so that they have a comprehensive view of the parties and their interests.

Key clients



Grupo Sion

Industrias Belen

Arrendamientos Belen


Work highlights

  • Advised several joint owners of properties of a condominium on a real estate arbitration dispute for $3.5m.
  • Advised Codessa on 22 claims to recover the possession of properties of a condominium.
  • Acted for Industrias Belen in a contentious administrative process before the district court, revoking the Santa Cruz government’s resolution that reversed the property rights of the site.