From The Mall To The Cybermall

Argentina's real estate czar wants to take shoppers online

Argentine real-estate mogul Eduardo S. Elsztain made a killing in the 1990s capitalizing on booming demand for prime office space and shopping malls in Buenos Aires. Now, he's staking his claim on today's hottest piece of property: the Internet. In May, Elsztain's Inversiones y Representaciones (IRSA) launched Altocity.com, a virtual mall some analysts say has a shot at becoming a Latin e-tailing powerhouse. "Preparing my companies for the Internet culture dominates everything I do these days,"says IRSA's chairman.

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