Diskussion:Carsten Pfau

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Carsten Dirk Pfau (born 1970 in the greater Stuttgart area) is a German entrepreneur and professional investor who is active in several different business fields. He lives in Germany and in Paraguay, the two countries in which he develops most of his business activities.

2.1 Teenage and college period

While still in school, Pfau started to work part time for a real estate investment fund as an introducer and a sales representative. Later he also worked occasionally as an independent real estate advisor. He closed his first professional deals already at the age of fourteen. Age eighteen, he formally founded a real estate advisory company. Since the cellular phone had not been invented yet, he had to organize most of his business activities over the public phone in his highschool.

During his course of studies of business and economics at Mannheim University, he dedicated a significant fraction of his time to marketing and sales of real estate all over Germany. Temporarily, he specialized in real estate of the former GDR.

After graduation in November 1996, he spent almost an entire year in the United States and in Canada. Shortly before, his fathers consulting company had gone out of business and his father had unexpectedly died shortly after that. Pfau recovered only sluggishly from this stroke of fate. In early 1997 he finally decided to move to Asuncion (the capital of Paraguay).

In Paraguay, Pfau first started to buy and sell farmland, before shifting his focus towards real estate development. In March 1999 the Pfau Investment Group, Inc., which had been founded as a German private company already in 1996, was formally incorporated in the US state of Delaware. Carsten Pfau became President and CEO of the company.

Besides his activities in the field of real estate development, Pfau served as a representative for an English as well as a French Investment Fund for South America. Temporarily, he also worked as a financial advisor and corporate consultant.

2.2 Latin America´s talles building

Between 1999 and 2008, Pfau drew significant attention from the press and the media when he officially requested a building permit in order to develop and consequently build Latin America´s talles building in downtown Asunción. The proposed 320 meter (1.049 feet) highrise building, which was supposed to offer luxury condominium apartments, office and retail space, a convention center as well as a Marriott hotel and casino, led to severe polemic througout the Paraguayan press and media. Especially the country´s most important daily newspaper, abc color, assumed a negative position towards the project which in the newspapers opinion was oversized (*1). On the other hand, Pfau experienced significant support from the wealthy upper class of Asunción and, in sight of thousands of new jobs, from the unions (*2, *3). Also, the highly influential and popular tv station Telefuturo took a positive position towards the building project. After a period of more than three years of procedures, public hearings and evaluations, during which even the city building code was modified in order to fit the project, City Council as well as the building authorities appoved the proposed project and the requested permission was granted (Ordenanza Municipal 2000/ 130) (*4, *5, *6). However, even after having obtained all permits, Pfau was forced to put the project on hold. Under the impression of the severe financial crisis in neighboring Argentina (Corralito 2001/ 2002), the involved investors were reluctand to provide funding before knowing what kind of impact the Argentine crisis would have on Paraguay (*7). Only after 2005, the building project, by then called Pfau Tower, was again advanced seriously. Besides the US hotel chain Marriott, the Sao Paulo based construction company Metodo of Brazil supported the project, as well as an interest group of Paraguayan companies and banks. The Paraguayan government under President Nicanor Duarte also favored the venture (*8, *9). Still, in the end the ambitious project could not be developed after all. Shortly before the official date for groundbreaking was supposed to be announced during a press conference in late 2008, two of the main investors withdrew from the project, in sight of the expanding worldwide financial crisis and especially, the Madoff case. In early 2009, the project was cancelled permanently and consquently, the Pfau Investment Group was dissolved. While Pfau had repeatedly rejected offers to sell his project company (offers of eight digit figures were rumored), he had to admit to having suffered losses with the project in the end. When the Pfau Investment Group was dissolved, a follow-up building project in Sao Paulo, Brazil, which was already under projection, had to be put on hold as well.

2.3 Activities after 2010

Since March 2010, Carsten Pfau is dedicated to the import and wholesale of bovine meat, as well as to the professional investment in farmland with the intention to raise cattle in Paraguay and Uruguay. For 2013, he also plans to venture into landbanking (also in South America). He is currently on the executive board of two German companies and one Paraguayan company. He also is on the board of directors of Paraguayan construction company Globus.

Tambien se debe mencionar que el Grupo GLOBUS ya no existe y que el Sr. Pfau dejo muchas deudas sin pagar en PARAGUAY, motivo por el cual tuvo que salir del Pais.

2.4 Miscellaneous

Besides German, Pfau is fluent in English and Spanish. He also speaks Portuguese and French, as well as same basic Arabic. He is a dedicated chess player.