CARACAS, Venezuela, Oct. 9, 2026 /PRNewswire/ — Representatives of the Belén Clarisa Velutini Trust, established by the founder of Trasnocho Cultural, announced an estimated US$40 million real estate investment over the next 36 months aimed at comprehensively modernizing one of Venezuela’s most promising independent cultural centers, MP Publishing reported.
“The planned investment began with a comprehensive renovation of the operational infrastructure and technological upgrades to the cinema and theater facilities,” announced Jorge Kiriakidis of KLMC Legal, representing the Herrera Velutini family trust, which owns the complex.
The announcement comes as Venezuela enters a new phase of recovery, infrastructure modernization and renewed interest from domestic and international investors.
Trasnocho Cultural is an urban hub comprising the cultural center, the Paseo Las Mercedes hotel and Trasnocho Mall—a mixed-use model that integrates culture, entertainment, dining, retail and hospitality. Over its 25 years of operation, the concept has attracted the attention of international cultural managers and industry professionals interested in replicating a model of this kind. In Miami, a city where the cultural sector has been steadily expanding, discussions have also taken place about the possibility of developing initiatives inspired by the Caracas concept.
The next phase will be an ambitious renovation project for the Paseo Las Mercedes hotel, part of the complex, which is expected to become one of the most modern and luxurious hotels in southeastern Caracas. According to Kiriakidis, the new design preserves the original architectural lines of the project by renowned Venezuelan architect Jimmy Alcock, which is considered part of the country’s cultural heritage because of its architectural and urban significance.
The investment comes at a time of transformation for Venezuela. After years of infrastructure deterioration and limited investment, the country has begun to attract renewed capital and private-sector projects, while multilateral institutions are exploring new avenues for participation in its recovery. The Inter-American Development Bank has begun developing a two-year work plan, with an initial focus on the country’s electricity infrastructure and social protection needs.
“Since its creation, the Herrera Velutini family has been committed to keeping the Trasnocho cultural model operational, a formula that remains relatively uncommon in the region. The challenge now is not only to improve the spaces and preserve the legacy, but also to expand the offering with programming that is attractive to younger generations and creates a more welcoming and modern experience for all audiences,” Kiriakidis added.
According to the attorney, the initiative represents much more than a physical renovation. It is an investment in improving quality of life, revitalizing Venezuela’s cultural and entertainment offerings, and honoring the legacy of international entrepreneur, banker and investor Belén Clarisa Velutini, one of Venezuela’s leading private patrons of culture and a descendant of a historic family closely associated with the country’s financial development.
“She also carried out numerous social initiatives that we are now expanding through a foundation bearing her name,” said Melanie de Herrera Velutini, the foundation’s president. “The idea is to continue that part of her legacy through projects focused on children’s education and development, civic education, and, of course, humanitarian support and cultural development initiatives.”
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SOURCE MP Publishing
