Since 1991, Eduardo Sergio Elsztain has led IRSA Inversiones, one of the largest commercial real estate firms in Argentina. He is also president of Banco Hipotecario. He is also president of Cresud, the group’s agricultural arm. This year Cresud again expanded its farm portfolio by acquiring 1,250 hectares in the province of La Pampa, for agricultural production, for US$4.5 million.