Strong outlook for property market sees commercial investment in Brazil
Date added: 9th August, 2010 at 09:38
(view all articles from August, 2010)
Categories: Property News
One of Europe's largest property speculators has made a commercial investment in Brazil, citing a positive outlook for the country's economy and real estate market.
Standard Life Investments recently announced it had ploughed R$110 million (£39.17 million) into two acquisitions in Sao Paulo.
Madison Building and Bela Paulista Building were purchased by the company at a cost of R$52 million and R$54.5 million respectively.
"We are particularly positive about the prospects for the Brazilian economy and its associated commercial real estate market," the firm said in a statement.
The 6,542 sq m floor space of Bela Paulista Building is already 50 per cent let, while the company expects to see a reversionary net income yield of 12.1 per cent.
Meanwhile, all 8,432 sq m of Madison Building has been leased out and Standard Life Investments believes it will receive a net reversionary yield of 11.2 per cent.
Elsewhere, Mayor Eduardo Paes of Rio de Janeiro recently announced on CBN radio that 378 favelas in the city would be rehabilitated, according to EFE.
For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array of opportunities for commercial investment in Brazil.
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