With the growth of the economy in recent years, Brazil has been one of the most attractive countries for international companies and investors motivated by the development of new infrastructure projects and construction.
The Royal Institute of Chartered Surveyors (RICS) entered Brazil 3 years ago following the surge of real estate market growth and is now looking to direct its attention towards construction within the region.
Neil Shah, managing director of the Americas for RICS, told Commercial Property Executive “Brazil is an important real estate investment market as the development over the last decade has been substantial. There’s a strong need for skills development, capability building and having a set of standards for professionalism in the real estate market.”
“All economies go through ebbs and flows, but regardless to where Brazil winds up after the election in October, we believe there is a strong need for infrastructure development, for skills development, and for on-going education and professionalism. That’s why we are committed to the region,” Shah said. “For us, it’s an important time to be there to work with other organizations and be a part of the fabric of the real estate industry in Brazil as more and more international investment has flown into the country to develop commercial property, to develop retail property and build the profession itself.”
Brazil’s initial goal is towards more globalisation and having signed up to the International Financial Reporting Standards, progress is already being made making it easier for foreign investors to buy a Brazilian Company. With RICS now being part of an international market and learning about international standards, this will hopefully allow the local professional to respond when an international player wants to do business in Brazil.
Invest in Brazil has been encouraging overseas investors to consider Brazil as the ideal investment opportunity for over 8 years now and with 2 outstanding projects under their belt, the Tambaba Country Club Resort and Pueblo Do Mar developments in the North East are a safe and beneficial option.