Connect DIRECTLY to Brazilian Sellers, Buyers, Agents & Developers
Select Language:

Brazilian property developer sees 30% growth in profit

Date added: 16th August, 2011 at 10:42
(view all articles from August, 2011)

Categories: Property News

The largest Brazilian property developer PDG Realty has announced a 30 per cent increase in net revenue over the year to June.

Profit during the second quarter of 2011 stood at 1.71 billion reais (£657.66 million), with a net income up 12 per cent at 247.51 reais and adjusted earnings before interest, tax, deductions and amortisation up 19 per cent at 442.16 million reais.

In the year to June, launches grew 14 per cent to 2.05 billion reais and contracted sales expanded by 17 per cent to 1.82 billion reais.

As many as 42 per cent of the units built in this time were part of affordable housing projects, many of which were eligible for the government's Minha Casa, Minha Vida (My House, My Life) programme.

In the second quarter of 2010, 68 per cent of low income units built by PDG qualified for the social housing scheme, while 23 per cent of domiciles were suitable in the three months to June 2011.

Affordable housing projects have been very profitable for one Brazilian property developer, with Rubens Menin Teixeira de Souza, owner of Belo Horizonte-based homebuilder MRV Engenharia & Participacoes, telling Bloomberg that constructing abodes for the less wealthy in the population was one of the factors that led to him becoming a billionaire.

PropertyinBrasil.com for Brazilian Property Investments - Connecting you DIRECTLY to the Property Seller; Brazilian Developer | Owner or the Selling Agent!!

Transfer Money to Brazilian Real | Send Money to Brazil

Related Articles

US and European residents increasingly moving into Brazilian property

People from the US, Britain and European countries are moving into Brazilian property, as a wealth of opportunities in the nation attracts Western professionals....

Date added: 15th August, 2011 at 10:14
(view all articles from August, 2011)

read more >

Affordable housing projects in Brazil "make a lot of money"

Investing in affordable housing projects in Brazil is very profitable, one expert has argued....

Date added: 12th August, 2011 at 10:59
(view all articles from August, 2011)

read more >

Evercore Partners 'to invest in Brazilian property'

G5 Advisors, an Evercore Partners joint venture, is to invest in Brazilian property, natural resources and utilities....

Date added: 11th August, 2011 at 10:21
(view all articles from August, 2011)

read more >
View News By Category: Apartments (7)Economy (488)Florianopolis (18)Fortaleza (43)Hotels (51)Islands (8)Joao Pessoa (6)Land (1)Natal (49)Natural Resources (208)Olympics 2016 (39)Property News (248)Rio (64)Salvador (60)Social and Affordable Housing in Brazil (26)Tourism (166)Villas (36)World Cup 2014 (35)
Archived News: August 2011 (13)July 2011 (26)June 2011 (28)May 2011 (26)April 2011 (24)March 2011 (26)February 2011 (26)January 2011 (26)November 2010 (22)October 2010 (26)September 2010 (26)August 2010 (26)July 2010 (26)June 2010 (29)May 2010 (26)April 2010 (26)March 2010 (27)February 2010 (26)January 2010 (27)December 2009 (25)November 2009 (27)October 2009 (26)September 2009 (26)August 2009 (26)July 2009 (26)June 2009 (25)May 2009 (26)April 2009 (26)March 2009 (26)February 2009 (26)January 2009 (26)December 2008 (26)November 2008 (27)October 2008 (24)September 2008 (29)August 2008 (26)July 2008 (39)June 2008 (31)May 2008 (28)April 2008 (29)March 2008 (3)