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When an individual has incredible ideas, success might be just around the corner; however, if he complements his talents by joining forces with another visionary, then the growth potential can be astronomical. This is the case of CYJ Builders, a Peruvian company founded on the initiative of its leaders, CEO Jaime Rodríguez Larraín Gonzáles del Riego, and partner and General Manager Carlos Palacios. In 1999, the two joined forces and talents to renovate and construct houses.
Their teamwork and natural instincts for the business are evident in the continued growth of CYJ. The company today is an experienced construction development company in the commercial sector, as well as in the housing market. It has more than 10 years of experience in the domestic real estate and construction sector, primarily focused on engineering, architecture and urbanism.
The company employs technical and professional staff whose members combine the elements of experience, flair and imagination to develop the most ambitious, avant-garde projects.
CYJ’s main objective is to be recognized nationally and internationally as a first-rate company in real estate and construction. With the values of perseverance, effectiveness, professionalism, honesty and quality, it hopes to attract both local and foreign clients.
CFO Carlos Arnaiz Muñoz emphasizes that CYJ is dedicated to building homes, commercial apartments and offices in Peru. It has extensive experience in the development of commercial, residential and housing projects.
“Our leaders combine more than 20 years of experience working in the construction market,” Arnaiz notes. CYJ Builders also offers services in real estate investment assessment; project management, including planning and development; obtaining licenses; registration of securities; accounting and tax advice for real estate.
The main goal of CYJ is to build high-quality projects that offer comfort, excellence and a superior lifestyle. “We have earned a reputation for top-level relationships with our customers and maintain an excellent connection with each of them,” Arnaiz says.
“We handle projects from apartment buildings, offices and civil works to upscale communities. As far as upscale housing, we offer apartments with a base price of $140,000 and up in very exclusive locations in Lima, Perú.
“Many of these clients [range] from small to medium corporations.”
The company is developing the 17-story Omega Corporate Building in the Cruz del Sur area, to be completed in February. The $10 million building boasts a modern façade and a surface area of 36,860 square meters. The client is Mire Real Estate Perú S.A.C.
Additionally, CYJ is about to deliver the MiraGolf Building for its client
Palmalimade Inversiones S.A.C. at a cost of $17 million. The 22,102-square-meter project consists of 47 apartments in an exclusive residential area in Lima.
Some models offer a standard design that repeats throughout the building, and the top floors are penthouse-style. The apartments began selling last year, with prices ranging from $300,000 to $700,000 per unit, and the delivery covers a period from December 2011 until February 2012. Even though the building has been completed, many of the buyers have last-minute requests, including design changes, that CYJ is more than capable of accommodating.
“We are set far apart from the competition,” Arnaíz says. “We base our differences in compliance, commitments, deadlines, price and efficiency, and of course, the special treatment we extend to each of our clients. This is a vital key to this business – in addition to a team of highly trained executives – that gives us a huge advantage.”
When CYJ participates on a project, Arnaiz says it provides “the commitment of high-level, trained personnel, including expert assessment. We also maintain a team that is extremely efficient in all building construction areas. When working as contractors, we follow closely our customers’ inputs and special requests.”
The Lima-based firm wants to apply its strengths and talents to projects outside of Lima. “We have recently made a partnership with a Chilean construction company, Echeverría Izquierdo Construction and Engineering S. A., with 30 years’ experience and a proven track record as a recognized leader in the construction industry,” he says.
CYJ and Echeverría Izquierdo are collaborating on a $20 million project in San Isidro, Lima's financial district. Both firms are committed to sustainable construction, and the goal is for the building to be certified LEED Silver. It is owned by investment fund Larrain Vial-Colliers.
The next few years are very promising for CYJ. It plans to joint-venture with larger Spanish, Colombian and Chilean construction ventures while working locally in the residential market. “Our company has interest in collaborating on a government housing project,” Arnaiz says. The work would be under the MI VIVIENDA Fund, established in 1998 by the Peruvian government.
CYJ is active in about 10 projects in Lima, including the Murano building in the Miraflores District for client Inmobiliaria Domo; the Miragolf Building on Cerros de Camacho Avenue for client Palmalimade Inversiones S.A.C.; el Centro Empresarial Tomasal in El Surco; and Galería CompuWilson in downtown Lima.
With all of this activity, it’s a safe bet that CYJ alliance has exceeded the expectations of its founders and partners – CEO Jaime Rodríguez Larraín Gonzáles del Riego and General Manager Carlos Palacios – when they joined forces a dozen years ago.