Two offspring of Donald Trump launched Tuesday in Punta del Este a $100 million building development with which the U.S. magnate plans to mark "a before and after" of the famous Uruguayan seaside resort.

Located on Playa Brava beach, Torre Trump (Trump Tower) will be a luxury 25-story building with 129 residences at prices ranging from $750,000 to $3 million.

Accompanied by Tourism Minister Lilian Kechichian and the U.S. ambassador to Uruguay, Julissa Reynoso, Ivanka and Eric Trump cut the ceremonial ribbon at the construction site.

Torre Trump is coming to one of the most exclusive spots at the Uruguayan resort, a meeting place for tourists from Argentina, Brazil, Paraguay, Chile, the United States and Europe.

Construction is planned to start halfway through this year and will take 30 months to complete.

The Trump family is undertaking the project in alliance with two Argentine concerns, the YY Group of developers and the architects' office of Dujovne and Hirsch. 

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