Real estate in Bolivia

Indacochea & Asociados

Alonso Indacochea (property acquisitions, sales and investments; restructuring; and the development of commercial, industrial, hospitality and residential real estate), and Anwar Farah  (mergers, subdivisions, constitutions and the restructuring of real estate projects across the commercial real estate, hotel and agroindustrial sectors), co-lead Indacochea & Asociados’ eight-strong practice, which has been particularly active in large-scale urban development projects of late. Farah also advises clients before local authorities on urban development matters including land use, urbanisation processes, construction licenses, habitability certificates, operating licenses and environmental impact studies; he recently led advice to Grupo Fe on the division and partition of two sets of properties as part of an urbanisation project. Rural real estate matters are another area of strength for the group. Key associate María José Martinez has experience across the commercial real estate, hospitality and agroindustrial sectors.

Practice head(s):

Alonso Indacochea; Anwar Farah


In our case, we especially work on real estate rights issues; the firm’s Anwar Farah is a former public sector head of legal, which gives him an advantageous insight that helps the effective and prompt resolution of our applications.’

In the case of Anwar Farah, I highlight his experience in the area from the public sector perspective.’

Key clients

Triangulo de Oro


Grupo Fe


Riverfront Investments

Riverfront Salud


El Tejar Group

Vicente Roca

Work highlights

  • Advising a holding group active across the livestock and agricultural sectors regarding the regularisation of agricultural properties.  
  • Advising a residential real estate developer on its incorporation process and subsequent real estate development plans.
  • Advising a client on the development of a commercial real estate project in Santa Cruz.

Moreno Baldivieso Estudio De Abogados

Property finance and high-value corporate real estate mandates are core pillars of Moreno Baldivieso Estudio De Abogados’ practice, beyond which it handles the full array of real estate matters. The six-strong team's recent work includes advising the US Embassy on the acquisition of a 5,000m² property to house the US Ambassador's official residence in Bolivia. Delfor Zapata (real estate and complex litigation including disputes related to land ownership, multi-party land disputes and possessory actions), Luis Moreno (real estate; particularly the retail sub-sector), and René Cuellar (transactional real estate matters) co-lead the practice. Daniel Arredondo has experience in cross-border real estate transactions, and counsel Carlos Merino is noted for his expertise in advising on disputes regarding real estate ownership.

Key clients

The Church of Jesus Christ of Latter-day Saints

The Embassy of Canada

The Embassy of the United States of America

Phoenix Tower International

Caribbean Cinemas

BISA Financial Group



Richline Group

Industrías Venado

Work highlights

  • Assisting Phoenix Tower International with the transfer and registering of ownership rights for over 500 telecommunication towers.
  • Advised the Church of the Compañia de Jesús on its purchase of several real estate properties (aggregate value: $15m), and also on a $5m real estate project for the construction of a hospital.
  • Advised coffee producer Agricafe on its $1.5m acquisition of a coffee plantation.

Criales & Urcullo

Leveraging off its banking, finance and capital markets capabilities, the seven-strong team at Criales & Urcullo has developed market-leading expertise regarding real estate investments funds; indeed, it advised the clients on the establishment of the only existing real estate investment funds in Bolivia. With a core focus on mid- to high-value development projects, it typically handles the finance structure, land acquisition, project development and approval, negotiations and documentation of such mandates, as well as any allied tax aspects. In addition to his real estate project development experience, name partner José Criales has extensive expertise in construction matters; his fellow practice co-head Adrián Barrenechea focuses on complex and cross border transactions. Corporate partner Daniel Mariaca is an additional contact for property acquisition and financing; he too has solid real estate project development experience.

Key clients

Techo / Techo en el Urubó

GEL Inversiones

Ciudad Nueva Santa Cruz


Fibra Inversiones


Inmobiliaria e Inversiones Smart

Smart Holiday

Lakauta Bienes Raices


Inversiones Inmobiliarias Atlantis

Bolívar Administración e Inversiones (BAISA)

Entrevigas Bienes Raíces

Urbanova Desarrollos Urbanos

Fundación Solydes


Parque Industrial Larinoamericano (PILAT)

Bosque Grande

Work highlights

  • Assisting construction company Arqgepro with the development of the $38m Vitruvio Tower project.  
  • Advising Bosque Grande on all aspects of the development of a 100 hectare real estate project; aggregate value: $150m.
  • Advising El Pahuichi regarding the development of eight real estate projects.
  • Ongoing advice to Ciudad Nueva Santa Cruz regarding the $365m first phase of the development of said project, the largest in Bolivia.

Guevara & Gutiérrez S.C

Guevara & Gutiérrez S.C handles the purchase and sale, mortgage and regularisation of real estate, as well as a full array of more specialist services for rural projects and commercial and residential urban development, including construction and lease agreements; surface property rights, easements and rights of way; real estate and equity investment funds; and the securitisation of real estate receivables. Litigation specialist Primitivo Gutiérrez leads the Santa Cruz-based team, which has particular profile for construction litigation and the regularisation of property rights and contested land holdings. High-value land purchases is an additional area of expertise for the group. Senior associate Ana Lora is adept in both urban and rural real estate transactional matters. Since publication the firm has announced a tie-up with Dentons, effective as of mid-March 2021.

Practice head(s):

Primitivo Gutiérrez

PPO Abogados

The primarily corporate-side practice at PPO Abogados has been active handling mandates from clients in the retail, agricultural/agroindustrial and telecoms sectors, primarily on mid- to high-value acquisitions of commercial property and rural land. Santa Cruz-based Carlos Pinto (real estate transactions and regulatory), leads the department; with recently made up, La Paz-based Diego Borht - who handles permitting matters such as project-related construction and operational licenses and easements - the other key figure. Corporate/commercial senior associate, María René Suárez, is also active in this sector. Former disputes practice co-head Gerardo Villagómez - also previously active in the sector - left the firm in June 2019.

Practice head(s):

Carlos Pinto

Key clients


Levi Strauss Bolivia

Parque De Las Memorias

Phoenix Tower International

Agropecuaria Bolfarm

Pandora Bolivia

Dow AgroSciences Bolivia

Work highlights

  • Advising Pandora Bolivia on the launch of stores in the La Chiwiña shopping centre (La Paz), and the Patio Design Lifestyle Center and Ventura Mall, in Santa Cruz.
  • Assisting Levi Strauss Bolivia with the stablishment of 16 stores and a distribution centre.
  • Advised Bolfarm on the acquistion of several rural properties; aggregate value: $15.5m.

Würth Bedoya Costa Du Rels Abogados

Würth Bedoya Costa Du Rels Abogados’ 'efficient, punctual and methodical’ six-strong team is primarily active in transactional real estate involving both urban and rural property and land; it also has experience on the entire life-cycle of real estate project development. Jorge Serrate is currently advising Multipartes Santa Cruz on the purchase of multiple properties, with an aggregate value of $5m. The group is also adept at acting for foreign law firms in real estate matters. Serrate and Mauricio Costa du Rels, who also has considerable experience, co-lead the practice.


Würth Bedoya Costa Du Rels Abogados has an efficient, punctual and methodical team’.

Jorge Serrate is efficient, intelligent, insightful, attentive and responsive’.

Key clients

Multipartes Santa Cruz

Critchfield, Critchfield & Johnston


Work highlights

  • Advised INURSA on the development of an office building – from lot acquisition and construction agreement, through to commercialization; value; $7m. The team has also previously advised the client on the development of a 120-hectare gated-community.

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

The five-strong real estate department at Bufete Aguirre, Quintanilla, Soria & Nishizawa Sociedad Civil – (BAQSN) handles title review, updating and regularisation; and prepares transfer, lease, antichresis, constitution-of-guarantees and privileges contracts, and their registration, as well as transactional matters; it has particular experience in residential and hospitality matters. Fernando Aguirre and Santiago Nishizawa jointly lead the practice; Carolina Aguirre is also a key contact.

C.R. & F. Rojas – Abogados

Corporate partner Elizabeth Landivar and associate Sergio Dávila co-lead the five-strong practice at C.R. & F. Rojas – Abogados, which counts agribusiness and real estate among its key industry focuses. Particularly active, Davila has led on numerous matters of late, advising Pharma Investi on the development and construction of its new $3.2m logistics centre; Azzorti on the purchase of industrial land; and CMP Inversiones on the acquisition of rural land valued at $1.5m, among other matters. Mandates have also involved urban land purchases.

Key clients

Pedro Colanzi



Carlos Maria Vaquer

Rio Bueno


Iglesia Pentecostal Dios Es Amor

Nova Home Group Desarrollos Inmobiliarios

Pharma Inversti

CMP Inversiones

Work highlights

  • Advised Texorsa on the transfer ore real estate and associated reorganisation of a trading company; value: $18m.  
  • Advising Grupo Nuestros Parques’ subsidiary CMP Inversiones on a 12-hectare land contribution for a cemetery project, and associated approvals and operational matters.
  • Advising Rio Bueno on the purchase of industrial property and associated mortgage credit agreement and construction contract for delegated administration; value $5m.

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

Corporate and commercial boutique Medina, Galindo & Richter Abogados S.R.L., fields a five-strong team under the direction of name partner Sergio Medina Bozo, who has a notable tax aspect to his real estate practice. The team - including key associate Fabiola Rivero Stumpf - is primarily active in transactional matters (notably, in relation to residential properties and development), as well as the full array of associated administrative matters, including authorisations, permitting and licenses.

Key clients

Inypsa Informes y Proyectos

Técnica y Proyectos


China State Construction Engineering Corp

Constructora Santa Fe

Hunan Road and Construction Company

Marco Infraestructura y Medio Ambiente

José Cartellone Construcciones Civiles

CRZ Construcciones

Exploraciones Maldonado


Compañía de Obras Civiles (COCIV)

Concremat Engenharia e Consultoria

Diseños y Proyectos Técnicos (DITECSA)

Dechini Dirección de Proyectos

Grupo Hotelero Rosario

Banco de Crédito de Bolivia

Constructora Atacama

Desarrollador Inmobiliario INSAL

Empresa Constructora Salina

Engecorps Engenharia

Construtora Norberto Odebrecht


Work highlights

  • Advising Desarrollador Inmobiliario Insal on the development of a $4.5m eight story residential building in La Paz; construction is now concluded and the project is in its commercialisation phase.  
  • Permanent advice to En Victoria on all administrative real estate matters concerning its Condominio Victor I and II developments; aggregate value $13.3m.
  • Assisted Compañía de Obras Civiles with a $1.45m land purchase for residential purposes; and with the $2.5m sale of its DZ Builidng.

Serrate Paz y Asociados

Boutique firm Serrate Paz y Asociados has a small but capable real estate practice primarily focused on transactional work; it is led by Carola Constanza Serrate, who splits her practice between labour and real estate matters. Recent mandates saw Serrate advise retailer Hipermaxi on the acquisition of multiple real estate properties for the development of new outlets; she also represents a developer active in urbanisation work in Santa Fe. Associate José Miguel Paredes Sanchez assists with real estate transactions, particularly as regards negotiations, operational definition, due diligence and compliance.

Key clients


Industrias Belén


Work highlights

  • Advice to retailer Hipermaxi on the acquisition of some 15 real estate properties in Santa Cruz and Cochabamba for the construction of new supermarkets; value $9.56m.
  • Advice to a private client seller on the divestment of approximately 320 hectares of land to real estate company Grupo Lafuente.
  • Advising an industrial client on the regularization of multiple properties in an industrial park.