Edit to add: This is not a recent purchase, he tried to purchase it in 2008. Keyword TRIED. The local laws prevent him from doing so, because the land is right next to Chile and is a suspiciously convenient strategic place for a foreigner to buy land. And that's without taking into account the fact there are PEOPLE LIVING THERE.
Now, HE IS STILL TRYING TO GET THE LAND HE PURCHASED. There's been back and forth over the years and with more protective laws he doesn't legally have the ownership of the land. The thing is, with the new law Milei is trying to pass, it will be impossible to stop the rabbi of doing whatever the fuck he wants with this place and the homes of the people that have been living there for decades.
And if he is successful, more rich foreigners will do the same to do god knows what. IT WILL BE IMPOSSIBLE TO GET IT BACK LATER. THEY WILL KICK PEOPLE OUT. THEY WILL DO WHATEVER THEY PLEASE. This is BAD.
It is NOT a coincidence that Peter Thiel is here, specially after his failed experiment with Prospera in Nicaragua. It wouldn't be an exageration to think that he is waiting (and probably lobbied) this law to pass to do the same bullshit experiment here where our stupid ass president will turn a blind eye on it.