Frutillar, October 14th, 2011

Patagonia Virgin is pleased to announce the latest happenings in the month of October.

We have begun on-site work in preparation for construction of our first five Town Houses. Our project management and technical inspection, COZ Consultores, has installed a border fence around the 20,000 square meters where these 3-story houses will be built, amidst parks and gardens designed by landscape architect Juan Grimm. Works are already in the bidding process, to ensure that work begins within the year in accordance with the planned schedule.

Furthermore, we will begin construction of a fully equipped pilot apartment in October. A new on-site sales office will also be set up.

We are pleased to announce that in addition to the first stage of Sebastián Elcano, our architects are already finishing the design of the new Town Houses for the second stage on the Magallanes plot, where colonial German style will be maintained in a low-density setting with spectacular views of Frutillar Bay. This second stage will be launched on the market this month.