Luis Emilio Velutini (born January 8, 1953, in Caracas) is a businessman and investor of the Latin American financial and real estate market. A descendant of Vicente José María Velutini, an immigrant from Corsica who arrived in Venezuela during the 1830s and helped rebuild the Chaguaramal El Batey, a town who gave origin to Zaraza, Guárico State;[1] he is the third son of Guillermo José Velutini Agüero and Josefina Urbina.[2]

Professional life

The Velutini Agüero family group participated in the construction of projects like the Club Playa Azul and the Lagartijo Dam.[3]

He founded the Aguasal Enterprises Group in 1976 together with his eldest brother Guillermo José Velutini Urbina[4] and motivated the development of the Hotel Fiesta Inn Aguasal and Club Aguasal.[5][6]

During the 90s, he founded Fondo de Valores Inmobiliarios along with Luis García Montoya, Nelson Ortiz, Luis Carlos Serra Carmona and various local banks.[7]

In the year 1994, he founded the consulting company Velutini & Asociados Asesoria Financiera along with his cousin Horacio Velutini Sosa. In 1995 Velutini & Asociados acquires control of the company Fondo de Valores Inmobiliarios, with the approval of the National Stock Exchange Commission and its registration in the Caracas Stock Exchange.[8]

In 1996, he achieves the association of the Argentinean real estate group IRSA and the known investor George Soros with the Fondo de Valores Inmobiliarios, starting a process of real estate assets acquisitions and reorienting the business towards the rent of office spaces in Caracas for corporation uses. In 1998, he registers the shares of the Fondo de Valores Inmobiliarios in the Level I ADR program of the Bank of New York in the NYSE.[9]

For the year 2000 Luis Emilio Velutini incorporates Equity International Properties (EIP) as a strategic partner of the Fondo de Valores Inmobiliarios, which is an Investment Fund led by the North American investor Samuel Zell, founder and shareholder of Equity Office Properties (EOP) and Equity Residencial Properties.[10]

In the year 2002, he directs the Fondo de Valores Inmobiliarios towards the Mall business, due to the success of the positioning, management and operation of the Centro San Ignacio in Caracas. He also inaugurated the Tolón Fashion Mall the commercial and offices mall Paseo El Hatillo-La Lagunita.[11]

In August 2010, he inaugurated alongside President Leonel Fernández, "Blue Mall Santo Domingo" in Dominican Republic, a commercial complex located in Santo Domingo.[12]

Right now, Luis Emilio Velutini continues being the President of Velutini & Asociados and the Fondo de Valores Inmobiliarios, and develops Blue Mall St. Maarten and Blue Mall Punta Cana.[13]

Corporate social responsibility

He is the President of the Fondo de Valores Inmobiliarios Foundation,[14] which, since its creation in the year 2003, has improved the quality of life of those with more needs through the financing of social investment projects. Working directly with the communities, its training programs, the support to its workers and the promotion of a very willing group of volunteers, its added to the donations that Luis Emilio Velutini makes to the Non Government Organizations that support minority groups.[15]

References

  1. ↑ Jorge Agobian V. "Historical Review of Pedro Zaraza Municipality" (in Spanish). Retrieved 30 May 2011.
  2. ↑ Rafael Díaz Casanova. "Luis Emilio Velutini Urbina" (in Spanish). Retrieved 30 May 2011.
  3. ↑ Ministerio del Poder Popular para el Ambiente. "Venezuela's Dams" (in Spanish). pp. 59–60. Archived from the original (Presentación de Power Point) on 25 March 2012. Retrieved 30 May 2011.
  4. ↑ Rafael Díaz Casanova. "Guillermo José Velutini Aguero" (in Spanish). Retrieved 30 May 2011.
  5. ↑ Grupo Aguasal. "History of Aguasal" (in Spanish). Archived from the original on 21 January 2012. Retrieved 30 May 2011.
  6. ↑ Grupo Aguasal. "Aguasal Real State Projects" (in Spanish). Archived from the original on 21 January 2012. Retrieved 30 May 2011.
  7. ↑ Softline Ratings. "F.V.I. Fondo de Valores Inmobiliarios" (PDF) (in Spanish). p. 2. Retrieved 30 May 2011.
  8. ↑ Superintendencia Nacional de Valores. "F.V.I. Fondo de Valores Inmobiliarios, S.A.C.A." (in Spanish). Archived from the original on 25 March 2012. Retrieved 30 May 2011.
  9. ↑ Bloomberg Businessweek. "F.V.I. Fondo de Valores Inmobiliarios" (in Spanish). Archived from the original on October 13, 2012. Retrieved 30 May 2011. {{cite web}}: |author= has generic name (help)
  10. ↑ Softline Ratings. "F.V.I. Fondo de Valores Inmobiliarios" (PDF) (in Spanish). pp. 2–3. Retrieved 30 May 2011.
  11. ↑ El Universal. "F.V.I. invest $65 million in Caracas" (in Spanish). Retrieved 30 May 2011.
  12. ↑ Hoy Digital. "Blue Mall Santo Domingo spectacular opening in the heart of SD" (in Spanish). Archived from the original on 15 August 2010. Retrieved 30 May 2011.
  13. ↑ Turismo Dominicano. "They will build Blue Mall Punta Cana" (in Spanish). Archived from the original on 6 December 2010. Retrieved 30 May 2011.
  14. ↑ Analítica. "Fundación Fondo de Valores Inmobiliarios support schooling in Petare" (in Spanish). Archived from the original on 30 September 2012. Retrieved 30 May 2011.
  15. ↑ Fundación Fondo de Valores Inmobiliarios. "About us" (in Spanish). Archived from the original on 25 March 2012. Retrieved 30 May 2011.
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