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Brazil property in strong demand



Country:  Brazil

9 November 2009

A growing number of international property investors and companies are investing into the Brazil property market, particularly in Sao Paulo, the country’s most populous state, reports UV10.

The Brazil property market is attracting global investor interest thanks to its rapidly improving economy, and the fact that it has been selected to host of the 2014 football World Cup and 2016 Olympic Games, which will lead to the construction of new and improved infrastructure and homes in Brazil.

GoldenTree InSite, based in New York, recently raised £300m to invest in Brazilian property, while Portuguese hotel group Porto Bay acquired an 80-room boutique facility in Sao Paolo, according to UV10.

Valia, one of Brazil's largest pension fund suppliers, also bought part of the Continental Tower in Sao Paolo for £70m.

Canada's CPP Investment Board also entered into a joint venture with Cyrela Commercial Properties SA Empreendimentos e Particpacoes, which will include the real investment arm of the government of Singapore, to develop and acquire property in Brazil.


See Also:   Brazil


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