NEW YORK, NY / ACCESSWIRE / December 04, 2020 / Gaucho Group Holdings, Inc. (OTCQB:VINO), a company that includes a growing collection of e-commerce retail platforms with a concentration on fine wines, luxury real estate, leather goods, and luxury home items, today announces news that its subsidiary Algodon Wine Estates has successfully completed the first in a series of efforts to drill additional water wells at its luxury residential and vineyard estate in San Rafael, Mendoza, Argentina. The company believes this achievement significantly enhances the property's valuation and plans to continue drilling up to an additional six wells throughout its 4,138-acre development in the near future.
Algodon Wine Estates' (algodonwineestates.com) luxury residential development is comprised of over 400 estate lots in its Phase 1 plan and also features the vineyards and winery responsible for producing the wines of Algodon Fine Wines (algdoonfinewines.com), as well as a boutique hotel (algodonhotels.com), with amenities such as a nine-hole golf course (with an additional nine holes forthcoming), grand slam style tennis courts, a year-round restaurant serving traditional Argentine cuisine, and other services. More than 100 vineyard lots overlook the golf course, and the wines cultivated at the estate have garnered multiple awards from international tasting competitions.
Next year, the company anticipates applying to the local municipality to drill for an additional six water wells throughout the property. The successful completion of this initiative is intended to allow access to natural aquifers that can service the expansion of the estate's real estate project, vineyards and winery, and other amenities, which is expected to significantly enhance the value of the property.
"It is exciting to see the early accomplishments of this initiative," says Scott Mathis, CEO, and Founder of Gaucho Group Holdings. "People often forget that the majority of Mendoza sits in a high-desert climate, and in such an environment, access to freshwater is vital. We came to San Rafael, Mendoza, with a plan to develop the finest world-class wine, wellness, culinary and sports lifestyle resort and residential development in the region, and we feel as though we have done just that. Every additional amenity we develop is a step further to add even more value to this extraordinary project. In the wake of the pandemic, and after months in lockdown, we believe individuals are now prioritizing health and well-being, now more than ever. These days, big cities have lost their allure, and our award-winning rural community can provide many with a unique peace of mind only found in a natural, socially distanced living community."
About Algodon Fine Wines
Algodon Fine Wines are produced at Algodon Wine Estates, a boutique Mendoza winery located in the beautiful foothills of the Sierra Pintadas, in the southernmost region of Argentina's wine capital. Fed by the purest meltwater from the glacial Andes, our 325 acres of vines go back as far as 1946 and produce exceptional fruit on sandy and clay loam. Algodon Wines are handcrafted by the brilliant winemaker Mauro Nosenzo, who is advised by Master of Wine, Anthony Foster. Our goal is to produce premium wines utilizing ecofriendly, organic inspired approaches, combined with the best modern winemaking technology. Brought together by Scott Mathis and his partners, Algodon Wine Estates' renowned winemakers bring decades of experience, as well as craftsmanship and tradition that have been passed down for generations. Visit AlgodonFineWines.com for more information.
About Gaucho Group Holdings, Inc.
For more than ten years, Gaucho Group Holdings, Inc.'s (gauchoholding.com) mission has been to source and develop opportunities in Argentina's undervalued luxury real estate and consumer marketplace. Our company has positioned itself to take advantage of the continued and fast growth pace of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury goods and experiences in sought after lifestyle industries and retail landscapes. With a concentration on fine wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com) and luxury real estate (algodonwineestates.com) associated with our proprietary Algodon brand, as well as the leather goods, ready-to-wear and accessories of the fashion brand Gaucho - Buenos Aires™ (gauchobuenosaires.com), these are the luxury brands in which Argentina finds its contemporary expression.
Gaucho Group Holdings, Inc.
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SOURCE: Gaucho Group Holdings, Inc.