Uruguay Amends Incentive Regime for Building Construction and Urbanization

Uruguay has published Decree No. 225/021, which provides amendments to the incentive regime for investments in building construction and urbanization that was introduced in response to COVID-19. The Decree amends the general conditions for qualifying projects in relation to the minimum area of a project that must be dedicated for common use. Instead of fixed percentages of the project area (5% or 10%, depending on investment amount), it is provided that the Enforcement Commission (COMAP) wil…