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Praxis and +Colonia: The Tech City Coming to Colonia, Uruguay

Montevideo waterfront and Rambla along the Río de la Plata

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Jorge

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The Praxis Uruguay project is one of the most talked-about developments in the country.

In September 2026, The New York Times reported that Praxis — a US-born technology community that describes itself as a “digital nation” — had chosen Uruguay for its first physical city. After exploring the Mediterranean, a site in California and even Greenland, it settled on +Colonia, a planned smart city on the coast near Colonia del Sacramento. Here is what is known so far, and what it could mean for anyone looking at property in the area.

What is +Colonia?

+Colonia is a 515-hectare urban development launched in 2022 near Colonia del Sacramento, the UNESCO-listed town an hour by ferry from Buenos Aires. Led by Argentine businessman Eduardo Bastitta, it is designed as a smart, green city for entrepreneurs, companies and families, built around the idea of linking the “two shores” of the River Plate. Projects within it are already sold and under construction, and Uruguay’s national innovation agency (ANII), its technology laboratory (LATU) and Germany’s Fraunhofer IAO are among the institutions involved, alongside some 30 technology start-ups.

What is Praxis?

Praxis was co-founded by American entrepreneur Dryden Brown and began as an online community of founders, investors and technologists, with links to the crypto and artificial-intelligence worlds. According to Forbes Argentina, it now has more than 150,000 members. Its goal is to build a physical city where its members can live and work together.

The key numbers

  • Investment: a projected US$1 billion over the first years — described as the largest US-origin capital commitment in Uruguayan real estate.
  • Scale: a first stage covering more than 20% of +Colonia, around 350,000 square metres of buildable area.
  • Timeline: Brown said he planned to move to Uruguay in December 2026, with the first residents expected by mid-2027, initially in existing buildings.
  • Government contact: Brown met President Yamandú Orsi in New York after the announcement, El Observador reported.

Within Uruguayan law

Praxis has its roots in the “network state” movement, and similar ventures elsewhere — such as Próspera in Honduras — ended up in legal disputes after seeking special governance regimes. In Uruguay, Brown has publicly said the project will operate entirely within the country’s legal system and does not require its own governance. That matters: Uruguay’s appeal lies precisely in its stable institutions and rule of law, which apply equally to everyone.

Why Uruguay?

The choice fits a broader pattern. Uruguay offers political stability, Latin America’s first commercial 5G network and fibre broadband nationwide, a deep pool of software talent and free trade zones that already host more than 1,300 companies. Colonia adds proximity to Buenos Aires and a historic town with a high quality of life.

What it means for property buyers

  • Interest in Colonia is rising. International attention tends to bring demand — and higher prices — to the surrounding area. Colonia is already one of the places where foreigners choose to live.
  • Announcements are not buildings. Track the milestones: purchase contracts in 2027, the arrival of the first residents and actual construction.
  • Do your due diligence on off-plan purchases. Check the developer’s track record, the escribano’s title review and payment guarantees — see how to buy property in Uruguay.
  • Compare with established areas. Montevideo, Punta del Este and José Ignacio have long track records — see property prices by area.

Frequently asked questions

Where is +Colonia?

On the River Plate coast near Colonia del Sacramento, in south-west Uruguay, about an hour by fast ferry from Buenos Aires and around two and a half hours by road from Montevideo.

When will Praxis residents arrive?

The organisation has said the first residents should arrive by mid-2027. As with any large development, timelines may change.

Can foreigners buy property in +Colonia?

Yes. Foreigners can buy property anywhere in Uruguay on the same terms as citizens — read can a US citizen buy a house in Uruguay.

The Praxis Uruguay project: key takeaways

Atlantic waves on the Uruguayan coast — Praxis Uruguay project

The Praxis Uruguay project plans a first stage of more than 20% of +Colonia near Colonia del Sacramento, with around US$1 billion projected and the first residents expected by mid-2027, operating within Uruguayan law. For buyers it signals rising interest in the Colonia region — but announcements are not buildings, so follow the milestones and do careful due diligence on any off-plan purchase.

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