Brazil tipped to be property hot spot by US Billionaire Sam Zell
Tuesday, May 6, 2008
Brazilian real estate made the headlines as a great place to invest in the property market. This time Brazil is backed by the US Billionaire, real estate investor and entrepreneur Sam Zell.
Zell told the Milken Institute Global Conference that Brazil has the chance 30 years from now of being a bigger economic power than China. His comments are backed up by positive economic growth ensuring growing demand across all sectors of the population for property and with continued foreign direct investment pouring in to Brazil.
Zell said the Brazil's multi-skilled work force; array of crops and depth of natural resources has made it largely self-sufficient. Sam Zell's Equity Group Investments, LLC, recently invested $44.5 million in the ECISA Group, Brazil’s largest mall operator, which is having 10 % retail growth annually.
Goldman Sachs is also tipping Brazil on the course to be the 5th largest economy in the world. Brazil’s economy is strong and economic growth is predicted to be 4.8% GDP this year.
Sam zell’s Equity International Properties, Ltd has invested approximately US$50 million in Gafisa, a leading Brazilian property company based in Sao Paulo. Gafisa is a fully-integrated property and construction company, developed more than 800 residential buildings. Carlos Medeiros, one of the Gafisa director said that this partnership will bring many benefits to Gafisa and also to the Brazilian real estate market.
Zell told the Milken Institute Global Conference that Brazil has the chance 30 years from now of being a bigger economic power than China. His comments are backed up by positive economic growth ensuring growing demand across all sectors of the population for property and with continued foreign direct investment pouring in to Brazil.
Zell said the Brazil's multi-skilled work force; array of crops and depth of natural resources has made it largely self-sufficient. Sam Zell's Equity Group Investments, LLC, recently invested $44.5 million in the ECISA Group, Brazil’s largest mall operator, which is having 10 % retail growth annually.
Goldman Sachs is also tipping Brazil on the course to be the 5th largest economy in the world. Brazil’s economy is strong and economic growth is predicted to be 4.8% GDP this year.
Sam zell’s Equity International Properties, Ltd has invested approximately US$50 million in Gafisa, a leading Brazilian property company based in Sao Paulo. Gafisa is a fully-integrated property and construction company, developed more than 800 residential buildings. Carlos Medeiros, one of the Gafisa director said that this partnership will bring many benefits to Gafisa and also to the Brazilian real estate market.
Labels: Investment-property, Latest-News, Sao Paulo
