Housing investment in Ceara announced
Date added: 26th January, 2010 at 09:29
(view all articles from January, 2010)
Categories: Property News
More Brazilians will be able to buy their own homes after plans for a new development of affordable property in Ceara were announced.
MDMY Investment will build 1,200 houses in the city of Caucaia, North East Brazil.
Jamie MacDonald-Murray, the director of MDMY Investment, said the new homes would contribute to bringing down the deficit of 420,000 homes in Ceara as well as helping with social awareness in Caucaia.
He said: "We're delivering micro-communities within the existing residential areas that are quick to develop and therefore reduce the huge deficit in the municipality. We are delivering homes to people who need them."
Government bank Caixa Economica now offers working class locals the opportunity to buy property in Brazil by taking out mortgages on low interest rates.
Ceara has recently seen investment from mining company Vale, which announced plans with Dongkuk Steel, a South Korean firm, to build a steel mill in the region.
The project will cost around $4 billion (£2.5 billion) and create an estimated 15,000 jobs.
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