President Santiago Peña met in New York with Paraguayan businesspeople Santiago Jariton and María Bertha Peroni and Chilean businessman Daniel Hiller to discuss a project intended to turn Asunción’s Costanera Norte into a commercial, tourism and entertainment hub serving Paraguay and the region.
The businesspeople are described by the Presidency as driving one of the most important entertainment and urban-development projects in the country’s history. The first stage includes an arena, an event center, a hotel and a shopping mall. The detailed project is in its final phase, and the government has presented early 2027 as the expected start of construction.
The future arena is expected to host about 100 shows a year. The event center would have approximately 80 additional activities, including exhibitions, fairs and conferences, with the participation of local and international promoters and operators.
Daniel Hiller, a partner of Live Nation in Chile and Peru, will be responsible for managing the arena, according to the official presentation. The plan also foresees the creation of direct and indirect jobs during construction and the complex’s permanent operation.
The initiative was declared to be of national interest and, according to the Presidency, has the full backing of the Government of Paraguay and the Municipality of Asunción. The announcement came during Peña’s official trip to the United States for the 81st United Nations General Assembly. The General Debate is scheduled to take place from September 22 to 26, while the president’s visit will conclude on September 28, 2026.
Costanera Norte is the site chosen for the development, whose proposal combines entertainment, events, lodging and commerce in a single urban project. The official presentation, however, still treats the schedule as a projection: construction can begin only after the detailed project is completed.
Peña traveled with First Lady Leticia Ocampos; Foreign Minister Rubén Ramírez Lezcano; Chief of the Civil Cabinet Javier Giménez; and ministers Óscar Lovera, of the Economy; Marco Riquelme, of Industry and Commerce; Juan Carlos Baruja, of Urban Planning, Housing and Habitat; and Gustavo Villate, of Information and Communication Technologies.
The delegation also included Carlos Carvallo, president of the Central Bank of Paraguay; Antonella Albertini, coordinator of the First Lady’s Office; Rodrigo Maluff, an adviser to the Presidency; Lucas Strubing, director general of State Ceremonial; and Lieutenant Colonel Oscar Armando Sostoa, head of presidential security.