Zell Continues to Bet on Brazilian Investments

One of the first foreigners to invest in Brazil, US billionaire Sam Zell maintains his bet on Brazilian investments. His latest acquisition includes the controlling stake of Tha Group, specialising in property in Brazil.

Through his investment company Equity International, Sam Zell has a history of interest in investments in Brazil and was one of the first foreigners to include Brazil on the global investment radar. Equity International’s Brazilian investments have to date included a range of companies operating within the Brazilian real estate market.

Expansion Within Brazil

One of the oldest companies in the Brazilian property sector, Tha Group specialises in development and construction of real estate. A spokesperson for the company said that the acquisition by Equity International will give Tha Group a much-welcomed opportunity to grow and expand within different regions of Brazil.

This expansion comes at a time when Brazilian real estate is experiencing strong growth, particularly in areas outside Sao Paulo and Rio de Janeiro. Real estate funds are increasingly interested in these areas and it appears Equity International is setting a trend for equity investment in Brazil.

Equity International has had stakes in shopping malls via BR Malls and commercial property in Brazil through Bracor. Sam Zell’s company has also owned interest in AGV Logistica and in 2011, formed part of Gafisa – one of the largest developers of real estate in Brazil – and Brazilian Finance.

High Performance from Real Estate Funds

The renewed interest from Equity International in property in Brazil comes as no surprise to market observers. Brazilian real estate funds achieved record highs during 2010 and last year also saw exceptional performance by some funds, although the average return of 11.63% was lower than 2010.

This average, however, hides a much higher performance from certain real estate funds in Brazilian. According to the business magazine Exame, the Banco do Brasil’s real estate fund achieved just under 58% for its holders last year. Other successful Brazilian real estate funds in 2011 belonged to Caixa, Brazilian Mortgages and Brazil Capital Real Estate Fund. All achieved returns in the region of 30% to 40%.

For Obelisk International, Sam Zell’s renewed interest in Brazil confirms the country as a top investment destination. “Mr Zell was something of a pioneer in Brazilian investments,” comments Gary Hardacre, CEO of Obelisk International, “and the fact that he’s back shows Brazil still has plenty of potential.” Obelisk International expects to see further big interest in Brazil from foreign investors this year.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Brazilian Investment Beats the Crisis

With most of Europe in financial and economic straits, Brazil beckons as the place for investment opportunities. The country is well set to weather the global crisis and may even benefit from it, a huge plus for Brazilian investments.

Based on Moody’s latest comments on the Brazilian economy, the Financial Times (FT) blog beyondbrics claims Brazil is the best place to beat the crisis. “Stressed out about the eurozone crisis? Worried about bank CDS spreads? Perhaps it’s time you moved to Brazil,” starts one of last week’s blog entries.

Good Economic Management

The FT comes to this conclusion based on remarks made by the regional credit officer for Moody’s in Latin America Mauro Leos, at a recent Sao Paulo conference. Mr Leos noted that Brazil is a good economic position in the face of the current crisis and pointed out that during the last global crisis in 2009, Brazil investment rating went up.

This rise in rating was awarded because of Brazil’s response to the crisis and “the resilience that was shown,” Mr Leos explained. Management of economics is a criteria Moody’s look at when reviewing ratings – “one of the things that allows us to understand a country and better differentiate them is how they behave during a crisis,” he said.

Brazil managed the previous crisis well with only a brief recession during Q4 2008 and Q1 2009. Since then, the country has gone from economic strength to strength. Buoyant GDP growth last year is continuing this year, unemployment is at a record low and Brazilian investment is experiencing a boom with the highest inflows ever.

Balanced Books

The FT emphasises other positive points in the Brazilian economy, particularly the solidity of banks in Brazil. Unlike many of their European counterparts, Brazilian banks have high capital reserves thanks to strict banking regulations. Brazil also has its external accounts in good order.

Moody’s, who raised Brazil’s rating last June to Baa2 with a positive outlook, are not troubled by the rising inflation rate in Brazil. Moody’s timescale for upgrades is usually between 12 and 18 months, and Mr Leos said the credit agency intends to review Brazil’s rating in autumn next year at the earliest.

Obelisk International shares Moody’s positive outlook for Brazil and firmly believes that with the financial uncertainty in Europe, Brazil is proving to offer the best – and safest – opportunities for investment. “There’s no doubt that Brazil is the place to be for investors,” says Gary Hardacre, CEO at Obelisk International, “as it has solid economic foundations and demand drivers that are difficult to match.” Record levels of investor confidence and foreign investment in Brazil would seem to prove that it certainly is time to move your investments to Brazil.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Brazilian Investment Beats the Crisis

With most of Europe in financial and economic straits, Brazil beckons as the place for investment opportunities. The country is well set to weather the global crisis and may even benefit from it, a huge plus for Brazilian investments.

Based on Moody’s latest comments on the Brazilian economy, the Financial Times (FT) blog beyondbrics claims Brazil is the best place to beat the crisis. “Stressed out about the eurozone crisis? Worried about bank CDS spreads? Perhaps it’s time you moved to Brazil,” starts one of last week’s blog entries.

Good Economic Management

The FT comes to this conclusion based on remarks made by the regional credit officer for Moody’s in Latin America Mauro Leos, at a recent Sao Paulo conference. Mr Leos noted that Brazil is a good economic position in the face of the current crisis and pointed out that during the last global crisis in 2009, Brazil investment rating went up.

This rise in rating was awarded because of Brazil’s response to the crisis and “the resilience that was shown,” Mr Leos explained. Management of economics is a criteria Moody’s look at when reviewing ratings – “one of the things that allows us to understand a country and better differentiate them is how they behave during a crisis,” he said.

Brazil managed the previous crisis well with only a brief recession during Q4 2008 and Q1 2009. Since then, the country has gone from economic strength to strength. Buoyant GDP growth last year is continuing this year, unemployment is at a record low and Brazilian investment is experiencing a boom with the highest inflows ever.

Balanced Books

The FT emphasises other positive points in the Brazilian economy, particularly the solidity of banks in Brazil. Unlike many of their European counterparts, Brazilian banks have high capital reserves thanks to strict banking regulations. Brazil also has its external accounts in good order.

Moody’s, who raised Brazil’s rating last June to Baa2 with a positive outlook, are not troubled by the rising inflation rate in Brazil. Moody’s timescale for upgrades is usually between 12 and 18 months, and Mr Leos said the credit agency intends to review Brazil’s rating in autumn next year at the earliest.

Obelisk International shares Moody’s positive outlook for Brazil and firmly believes that with the financial uncertainty in Europe, Brazil is proving to offer the best – and safest – opportunities for investment. “There’s no doubt that Brazil is the place to be for investors,” says Gary Hardacre, CEO at Obelisk International, “as it has solid economic foundations and demand drivers that are difficult to match.” Record levels of investor confidence and foreign investment in Brazil would seem to prove that it certainly is time to move your investments to Brazil.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Brazilian Investment Confidence Grows

Confidence in Brazilian investments continues to grow. Both Brazilian executives and foreign investors are bullish on the prospects for investment in Brazil.

Ernst & Young’s latest Capital Confidence Barometer for Brazil finds the majority of survey respondents optimistic about the immediate future for investments in Brazil. Published last month, the Barometer summarises survey replies from over 1,000 executives.

More Pluses Than Minuses

In the Perspectives section, the Barometer lists the reasons behind the current executive confidence in Brazil. As well as the fast-growing consumer market and strong Brazilian commodities market, the “continued euphoria over the discovery of vast new offshore oil and gas” leads the Barometer to believe the economy will continue to “sizzle”.

The huge growth of the middle classes is another boost to investor confidence in Brazil. Ernst & Young say that Brazil’s upper and middle classes will include 144 million people by 2014, a 20% increase on today’s figures. This marked increase in the middle class is a main driver behind the Brazilian real estate market, currently a major investment focus for foreign companies including Obelisk International.

Along with these fundamentals, investment in Brazil can also draw on the fact that Brazil’s public-sector debt has fallen by nearly half in the last ten years. Public deficit stands at a mere 1.5% of GDP – in developed economies, it’s nearer 9%. And Brazil is a creditor with bank reserves sitting at 11%, 3% more than the Basil I standards.

Brazil does, of course, present some minus points, although the largest worry for Brazilian executives – macro-financial stability – is the same concern facing all multi-nationals. The rise in consumer prices in Brazil represents an issue for some respondents to the Barometer as well as the sharp gains recently experienced by the real.

On balance, however, the Barometer reports that when it comes to investment in Brazil “the pluses far outweigh the minuses”. It concludes that confidence in Brazilian investments is high and notes that “investor caution regarding Brazil has declined sharply”.

For Obelisk International CEO Gary Hardacre, this reflects the growing maturity of Brazil as an investment market. “There has been a complete turnaround in investor perception of Brazil over the last few years,” Mr Hardacre said, “with investors now recognising the amazing opportunities in this solid investment destination.”

Bullish Prospects

Given the buoyant situation of their own economy, the Brazilian respondents to the Barometer are understandably more bullish about the financial crisis and the prospects of their companies. Only 10% of Brazilian executives believe the crisis still has a year or more to go and 77% are more optimistic about their companies’ prospects than they were six months ago.

Reflecting the solid reserves in the Brazilian banking system, the vast majority of Brazilian executives said credit and capital conditions have improved. 62% of them claim they have no need to refinance, considerably higher than the international average (49%).

All in all, the Barometer paints a brighter picture for the global economy and reports that “leading companies are now focused on growth again, not survival”. Obelisk International believes that emerging markets like Brazil will be at the forefront of this growth and continue to offer some of the world’s best investment opportunities.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Minha Casa Minha Vida Investment Adds Up in Rio Grande do Norte

Minha Casa Minha Vida has been described as the largest Brazilian real estate investment in decades. Figures just released for Rio Grande do Norte state explain why.

Rio Grande do Norte, situated in the corner of north east Brazil, serves as a good indicator of the government social housing programme, Minha Casa Minha Vida (MCMV). The state statistics for the first phase of the programme – job creation and benefits for the local economy – highlight the scale behind this massive investment in low-cost property.

Brazil is now into the second phase of MCMV and the government financier of the project, Caixa Economica Federal bank is releasing state results for the first phase. In Brazilian terms, Rio Grande do Norte with a population of 3.17 million is hardly large, but the first stage of MCMV in the state shows some impressive statistics.

Almost 15,000 Properties

According to Caixa, Rio Grande do Norte will benefit from 14,765 Minha Casa Minha Vida homes for Brazilian families earning between zero and three times the minimum salary. Obelisk International’s Minha Casa Minha Vida investments in north east Brazil – some 3,300 properties to date – are part of this figure.

Caixa’s regional director, Roberto Linhares said “the sky is the limit” for homes for families in the 3-10 times minimum wages bracket. This is because normal market conditions apply for these MCMV properties since developers sell them through normal marketing channels, although families still benefit from highly-favourable Caixa finance.

Big Local Benefits

As well as supplying housing for thousands of families who would otherwise be living in sub-standard accommodation, the Brazilian social housing programme has brought huge benefits to local communities. In its short history, MCMV has created thousands of jobs in Brazilian cities and provided a much-needed boost to countless local economies.

Rio Grande do Norte is a case in point. Brazilian real estate investment in MCMV has created 17,500 jobs in the state (the national total is 665,000), easily fulfilling one of MCMV’s secondary objectives, job creation. The programme has also injected R$1.4 billion into the state economy, benefitting thousands of locals directly as well as indirectly through secondary services.

Speaking to local real estate developers in Natal, the capital of Rio Grande do Norte, Mr Linhares stated that “Minha Casa Minha Vida is the biggest programme in Brazil in decades”. He said that in spite of the challenges that come with building 3 million homes, no one should underestimate what owning a home means to a poor family.

Obelisk International is well aware of the multiple benefits of MCMV for Brazilian society. “It’s interesting to see how this Brazilian investment opportunity provides excellent returns at investor level and is also hugely profitable for the local community,” says Gary Hardacre, CEO at Obelisk International.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Safe Haven for Brazilian Investment | Obelisk International

Foreign funds, particularly dollars, have been pouring into Brazil this year. The record influx indicates that investment in Brazil is seen as a safe haven for funds.

Brazilian investment ranked fifth in the world in 2010 for foreign direct investment (FDI). Amounts this year appear to be increasing on 2010. Flows of FDI into Brazil during the first six months of this year were the highest since 1947 when the Brazilian Central Bank records began.

Foreign investment in Brazil from January to June totalled US$32.5 billion, 67% of the total FDI in 2010. The business magazine Istoe Dinheiro attributes the rise in foreign funds to the forthcoming World Cup and Olympics plus big investment in Brazil’s oil and gas industries.

Investment Oasis

Against a background of global economic uncertainty, Brazilian investment is seen as an opportunity. Istoe Dinheiro calls Brazil “an oasis in the midst of the global drought”. Obelisk International shares this perception, particularly because Brazil represents such good investment potential across a wide range of options.

These options encompass equity, commodities, agriculture and real estate in Brazil offering timescales for every portfolio. Funds for short-term investments are attracted to Brazil because of the profits to be made on high interest rates. Long-term investments find appeal in Brazil’s expanding consumer market.

Brazilian investment is also perceived as a safe haven from doubts over US debt and the second Greek bail out. The buoyant Brazilian domestic market with its fast-growing middle classes is a magnet for consumer-orientated investment and Brazil’s strategic position in Latin America brings many other emerging markets such as Chile, Colombia and Peru within easy reach.

Brazilian Investment Abroad

Parallel to the huge influx of FDI into Brazil is Brazilian investment abroad, also experiencing record levels. Central Bank statistics reveal a massive increase this year – from January to July, Brazilians invested US10.53 billion outside Brazil, 91% of the 2010 total. Total Brazilian assets abroad are expected to reach US$300 billion by the end of this year.

Most Brazil investments outside Brazil are direct participation in foreign companies, followed by equity and porfolio investment. Perhaps surprisingly given the booming Brazilian property market is the size of real estate investment by Brazilians abroad. The largest group of foreign buyers of real estate in Miami are Brazilians who are buying 9% of property there.

For Gary Hardacre, CEO of Obelisk International, the latest FDI figures for Brazil are indicative of the country’s consolidation as an investment destination. “With current global insecurity, we at Obelisk International expect to see further investment in Brazil and other solid emerging markets,” he commented. Mr Hardacre also expressed his belief that bigger Brazilian investment abroad is a sign of increasing Brazilian wealth and of Brazil’s increasingly important international presence.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Obelisk International Launches Minha Casa Minha Vida Investment Website

Obelisk International announces the launch of the definitive information site for Minha Casa Minha Vida investments. This new site provides investors with vital insight into a niche market in Brazilian real estate.

www.minhacamasaminhavidainvestment.com takes a fresh look at the Brazilian social housing programme, implemented in 2009 to build 3 million low-cost homes. Obelisk International has launched the site to provide answers to the many investor questions about social housing property in Brazil.

Vital Information Source

Visitors to the site will find a description of the programme itself with essential facts about Minha Casa Minha Vida listed in easy-to-read sections. These include a background to the government-backed social housing programme, information about the two phases of Minha Casa Minha Vida and details on how the programme is financed.

Under ‘The Investment’ tab, Obelisk International takes an in-depth look at its own Minha Casa Minha Vida investment in Brazil. This section explains the history of the company’s social housing investments in north east Brazil (over 3,300 units to date) and examines the investment in detail. This, together with the company information, gives the investor a comprehensive overview of what Obelisk International’s Minha Casa Minha Vida investment are all about.

Ethos Behind New Site

The objective behind the new site is to help investors make informed decisions. Obelisk International CEO Gary Hardacre believes the new site is an essential addition to this kind of investment into Brazilian real estate. “There’s a lot of information out there, but it’s difficult to find a detailed overview of the programme on one site,” he explained. “Our new site fills that gap.”

The information-based nature of Obelisk International’s sister site will also give investors a better understanding of how Minha Casa Minha Vida investments work. “Obelisk International social housing investments comply with all the aspects of the government programme,” said Mr Hardacre, “making our investments a genuine part of this much-needed housing programme”.

Up-to-date Resources

Those interested in social housing investment in Brazil also have the opportunity to keep up with latest news and events through the new Obelisk International site. Up-to-date news articles are displayed on the site offering information on Brazil, the Minha Casa Minha Vida programme and the Brazilian property market generally.

Obelisk International’s in-house resources are also available as free downloads from the site. These include the company’s Brazil Investment Guide and a Minha Casa Minha Vida preview brochure for prospective investors. Further useful additions based on Obelisk International’s extensive market research will be added to the resources section in the near future.

Latest Investment

The latest Obelisk International Minha Casa Minha Vida project is offering 175% returns over 24 months based on a minimum investment of £100,000. Full capital is returned to the investor after 12 months with 75% profit following 12 months later. More information about this investment can be found on www.minhacasaminhavidainvestment.com and www.obeliskinternational.com

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Middle Class Dominates Brazilian Investment

The changing face of the Brazilian middle class brings new challenges to domestic and foreign investment in Brazil. Once content with cheap promotions, the middle class is now more discerning and looking for quality.

This search for better products affects consumer goods across the board. From laptops to real estate, Brazilian middle class (known as Class C) is going for quality over price. Until now, they were content with cheap offers, but with higher wages and more widely-available credit, middle class Brazilians prefer quality and well-established brand names.

A recent conference hosted by Grupo Doria in Sao Paulo addressed the challenges facing Brazilian investment firms as they seek to meet this change in middle class consumers. The high number of participants at the conference demonstrates the huge interest in catering for middle class customers.

Huge Opportunities for Investment

Brazil is home to one of the world’s fastest growing middle classes. Between 2003 and 2010, some 32 million Brazilians moved out of poverty into Class C, becoming new middle class citizens. Statistics quoted in the business weekly, Istoe Dinheiro, claim 35 million more are poised to join them by 2014.

This growth will bring the middle class to 140 million in just three years time. In tandem with this increase come huge opportunities for investment in Brazil in virtually all business sectors. To make the most of these investment opportunities, Brazilian and foreign companies need to understand this new consumer class.

Change in Marketing

In an attempt to to match middle class demands, Brazilian companies are adapting their marketing strategies. Changes are apparent in a range of industries - from online commerce to air travel and from cars to white goods.

The Brazilian airline TAM, historically more orientated towards business executives, is now targeting the new middle class. Not only are TAM plane tickets cheaper but they are on sale in more outlets including universities and stores. Company representatives claim sales have soared with Class C clients among the biggest buyers.

Shortage of Brazilian Property

“Perhaps the most important part of the Brazilian middle class story is the demand for properties,” says Gary Hardacre, CEO at Obelisk International. As the number of middle class families grow so does the demand for suitable housing, which the Brazilian real estate market is currently unable to meet.

Mr Hardacre points out that some of this demand is being met by the government social housing programme, Minha Casa Minha Vida. Despite building 3 million homes, the programme falls far short of demand, which may be as high as 8 million properties. Obelisk International recognises the excellent investment potential in property in Brazil aimed at the new middle class, particularly its newest members. “We expect this market to provide solid Brazilian investments for at least a decade,” said Mr Hardacre.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Brazilian Football Investment Kicks Off

Official preparations for the World Cup have begun in Natal, north east Brazil. At the presentation, the Mayor unveiled plans for R$800 million in investments.

Brazil is preparing for the 2014 World Cup in earnest. Part of this preparation includes events in host cities to present investment plans to local businesses. Natal, the fourth Brazilian city to hold the event, will receive a total of R$800 million in public funds plus an unspecified amount of private investment.

Speaking to the many entrepreneurs at the event, the Mayor Micarla de Sousa said that the World Cup is hugely important for Natal and by extension, Rio Grande do Norte. “Natal will never be the same after the World Cup,” she told those present.

Big Urban Improvements

Part of the government investment in Natal will go towards urban improvements such as street paving, drainage and sanitation. Further funds will be spent on upgrading transport infrastructure such as converting the Natal-Mossoro highway into dual-carriageway.

Most government money is coming from the Growth Acceleration Programme (PAC), the same funds that are financing Minha Casa Minha Vida, the largest investment in real estate in Brazil. The remainder of public funds form part of the federal budget for the World Cup.

The new stadium in Natal will, as is the case in most of the host cities, form the centre piece of Brazilian investment in the football tournament. The Arena das Dunas is being built under a public-private partnership and has a budget of R$400 million. Built to seat 42,000 spectators, the stadium will be finished in December 2013 in time to host four or five World Cup matches.

Big Opportunities for Investment

Brazil is more than conscious of the massive opportunities that come from hosting a world class sporting event. Natal’s Mayor reported that in Natal alone, the World Cup will create 30,000 new jobs with 15,000 of these in the civil construction sector.

“This is the moment. This is the opportunity,” Ms de Sousa explained as she urged local businesses to make the most of all the opportunities available to them. As well as civil construction, other sectors expected to benefit from the World Cup are tourism and services.

One of the main objectives of the Natal presentation was to provide a platform for entrepreneurs so they could pinpoint specific areas for investment. At the event, Natal businesses drew up plans of action to identify areas with maximum investment potential.

For Obelisk International, the 2014 World Cup represents a unique event for all the Brazilian host cities and offers exceptional opportunities for investment in Brazil. And these opportunities are not just limited to the World Cup cities themselves – Obelisk International believes that the areas of influence go beyond city boundaries and out into most of Brazil.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Investment in Brazil Steams into Fifth Place

Foreign investment in Brazil in 2010 was the fifth highest in the world. Within South America, Brazilian investment is the main focus for foreigners.

In the latest World Investment Report issued by the United Nations Conference on Trade and Development (UNCTAD), Brazil lies in fifth position in terms of the world’s top host economies. Ahead of Brazil in investment are the US, China, Hong Kong and Belgium.

With US$86 billion last year in foreign investment, Brazil has climbed ten places up the global ranking. For Obelisk International, this clearly indicates Brazil’s higher profile among investors, which is being reinforced this year. According to UNCTAD, foreign direct investment (FDI) into Brazil from January to April this year reached US$23 billion, three times higher than the same period in 2010.

Biggest Player in South America

South America was a magnet for FDI in 2010 when investment levels were 56% higher than the previous year with Brazil attracting the bulk of foreign interest. According to UNCTAD, there was an “unprecedented surge of investment” in Brazil and Latin America as a whole from developing Asian countries, particularly China and India.

FDI inflows to Brazil were concentrated in two main areas – equity capital and the manufacturing sector. Equity capital investment in Brazil doubled during 2010 and FDI into manufacturing grew by 16%. Substantial amounts of foreign equity capital have entered Brazilian real estate funds, which have grown 355% since 2004.

Investment in Brazilian equity capital has continued to be strong during 2011. Intra-company loans have also attracted high levels of FDI along with Greenfield projects. UNCTAD expects FDI to remain buoyant during the rest of this year.

Investment by Brazilian companies abroad was also strong in 2010 when outflows reached US$11.5 billion. Acquisitions in developed countries by household names such as Vale, Gerdau and Petrobras made up the core of Brazilian investments overseas.

Emerging Markets New Powerhouses

UNCTAD highlights the growing importance of emerging markets for both inflows and outflows of FDI. The report finds that these new markets are increasingly dominating levels of FDI globally. This tendency mirrors the world economy where emerging markets gradually account for higher percentages of economic growth.

The report states that in 2010, “developing and transition economies together attracted more than half of global FDI flows”. The rise in FDI leads UNCTAD to call emerging markets “new FDI powerhouses”, an opinion Obelisk International shares given the economic strength and booming consumer markets in countries like Brazil, India and China. Obelisk International fully expects Brazil to continue to feature among the world’s top five nations for investment over the next few years.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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First Minha Casa Minha Vida Investment in Parnamirim

The draw for the first Minha Casa Minha Vida development in Parnamirim took place last weekend. 352 families are now the lucky owners of apartments in the largest programme for property investment in Brazil.

To view photos of the draw please CLICK HERE.

The first Minha Casa Minha Vida investment in Parnamirim is called Nelson Monteiro and consists of 352 apartments in the Vale do Sol district of the city. The next step for the new owners is to sign the mortgage contracts with Caixa Economica Federal and move into their homes in mid-August.

Social Housing Hub

Parnamirim lies to the south-west of Natal in Rio Grande do Norte state and forms a focal point for Brazilian investments in social housing. Over half the allocation for Minha Casa Minha Vida in Rio Grande do Norte lies within the district of Parnamirim where Obelisk International is currently developing Minha Casa Minha Vida projects.

The local council is pulling out all the stops to finish infrastructure in the Minha Casa Minha Vida districts so that new homeowners are within easy reach of amenities. This makes Parnamirim an attractive location for Minha Casa Minha Vida investment since prospective homebuyers know they will be near facilities. Parnamirim’s Mayor said the council’s aim is to ensure schools and health centres are less than 1km from the social housing developments.

Dream Come True

Speaking at the draw for the 352 new homes, the Mayor recognised the huge importance of the occasion. “I come from a poor family,” he said, “and know this is a very special moment in our lives”. The representative from Caixa Economica Federal – the bank providing finance for all Minha Casa Minha Vida investment in Brazil – expressed his satisfaction at “sharing this dream come true in Parnamirim”.

The stories behind the 352 new homeowners speak for themselves. From the 88-year old lady fulfilling her lifelong dream of owning a home to the father of two who said “it’s going to be a big relief to have a roof over our heads”, every family expressed their gratitude towards the programme.

Obelisk International believes that as well as an extraordinary opportunity to invest in Brazilian real estate, Minha Casa Minha Vida is about improving people’s lives. And the first social housing investment to come to life in Parnamirim is doing just that.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Investment in Brazil Warms up for World Cup

The 2014 World Cup means big business for Brazilian investments, employment and the economy generally. Latest figures point to economic growth in excess of US$70 billion.

As well as one of the world’s most important sporting festivals, the World Cup is a huge money-making machine. 2014 will be no exception for Brazil as can be seen from the expected earnings just announced by the Brazilian Ministry of Sport.

Big Numbers

Overall, the Brazilian economy is predicted to grow by US$70 billion. This growth will mostly come from public and private investment in Brazil, in areas such as infrastructure and services. Consumption by visitors to the World Cup is also expected to bring a major boost to Brazil’s already buoyant economy.

Employment will see huge growth over the next three years. Some 330,000 permanent jobs are expected to be created throughout Brazil where unemployment is currently at a record low of 6.2%. For Obelisk International, this job creation will inevitably lead to more middle class wealth and in turn, generate further income for other sectors of the economy.

Tourism will be one of the sectors most benefitted by the football tournament. Over 600,000 foreigners will travel to Brazil to watch the games, bolstering the fast-growing Brazilian tourist industry. Foreign visitors will generate US$2.5 billion in extra income for Brazil.

Along with earnings from foreign visitors, the Brazilians themselves will be adding to the country’s coffers when they travel around Brazil to see the games. The Ministry of Sport estimates that the World Cup will generate US$3.5 billion in earnings from the 3 million Brazilians who go along to watch.

Adding up the Investment

Brazil, along with preparations for the World Cup and Olympics, is also making huge investment in real estate and hydropower. The 2 million homes being built in the Minha Casa Minha Vida programme represent the biggest Brazilian property investment ever. These plus two of the world’s largest hydropower plants do not leave a lot of leeway for more construction financed by public investment in Brazil.

Costs for materials and labour have risen sharply since Brazil was awarded the World Cup and the budgets for several stadiums are now considerably higher. The Sports Minister believes the construction of Brazil’s new stadiums will come out at around US$7,000 a seat, 17% higher than originally expected.

Despite the additional costs – common to preparations for all major sporting events – the overall figures look hugely positive to Brazil, set to reap huge benefits from the 2014 World Cup. Obelisk International believes the next three years are full of opportunity for Brazil and Brazilian investment.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Experts on Investment in Brazil Have Their Say

New York recently hosted the Bloomberg Link Brazil Conference. The event brought together Brazilian investment experts and their views on Brazil’s economy and future.

Hot topics among analysts on investment in Brazil were inflation, Brazilian currency and interest rates. Those present at the conference were also asked by Bloomberg on the possibility of Brazil suffering a credit bubble, a concern that has been aired by some media recently.

General opinion was upbeat and the Brazilian investment experts painted a positive picture for the Brazilian economy over the next few years. As one analyst said, “everyone is in love with Brazil”, a claim backed up by foreign ownership of 40% of Brazilian stock.

Inflation & Interest Rates

For Standard & Poor’s, inflation in Brazil is high, but their representative pointed out that when the rate is put “into the bigger picture, we don’t see it moving out of control”. Alexei Remizov from Global Capital Markets at HSBC said high inflation rates could affect Brazilian investments but that “it is very clear that the government is taking action to curb inflation”.

Consensus is that interest rates will continue to rise. Barclays Capital predicts two further rises this year. For Oppenheimer Funds, “the highest real interest rates in the world” plus the fact that Brazil is one of the few countries in the world with a primary surplus mean that “it’s hard not to have overweight in Brazil”.

Froth not Bubble

For the CEO of Equity International, Gary Garrabrant there is no evidence of a bubble in the Brazilian credit market. “We see growth opportunities driven by fundamental demand in Brazilian real estate sectors,” he said.

Obelisk International also sees this growth potential in property in Brazil, particularly among the middle classes, one of the engines behind this “fundamental demand”. The representative from ICAP, one of the largest brokers in Brazil, pointed out that the new middle class consumers are demand drivers and this, he said “shows it’s an event”.

The Chief Brazilian Economist at Barclays Capital also sees no sign of a bubble but rather “a little bit of froth”. Marcelo Salomon believes this will “be cleaned out” as the economy slows down. (After last year’s GDP growth of 7.9%, Brazil is looking at around 4% for this year.)

Bright Future for Brazilian Investment

Furthermore, Mr Salomon sees no problem of debt overhang with consumers. Barclays Capital believes that the Brazilian real should not be depreciated despite the recent high rises in Brazilian currency exchange rates. For Mr Salomon, the future looks good for Brazil – “things are going to continue as they are right now for a while,” he said.

Obelisk International coincides with this opinion. Our market research points to more of the same when it comes to investment potential, particularly in north east Brazil where lower foreign investment and domestic wealth levels give more room for manoeuvre.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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UK Push on Brazilian Investment | Obelisk International News

The recent visit by British Deputy Prime Minister Nick Clegg to Brazil underlines the growing importance of UK investments in Brazil. Mr Clegg wants British exports to Brazil to double by 2015.

In his first official visit to the country, Mr Clegg spoke of Brazil as a “natural partner” for the UK and emphasised the many Brazilian investment opportunities open to British companies. “As Brazil is set to become the fifth largest economy in the world, UK companies should seize on every opportunity to prosper in Brazil,” he said.

UK exports currently run to £2.1 billion a year and the government is keen for British investment in Brazil to reach £4 billion over the next four years. During the visit, deals worth £2.5 billion were announced and further Brazilian investment opportunities earmarked, moves that were welcomed by foreign companies already in Brazil such as Obelisk International, who have four Minha Casa Minha Vida projects in the Rio Grande do Norte region.

British Companies Waking Up to Brazil

Investments by British companies have up to now been slow and other European countries have made considerably more Brazilian investments. Former UK Consul General in Sao Paulo, Martin Raven claims that “British business has taken a long time to take Brazil seriously”.

In a BBC article, Mr Raven states that Germany, France and Italy are much further ahead and have established a solid presence in Brazil. Danone, Parmalat and Siemens, for example, are now household names and Sao Paulo has more German companies than any one city in Germany.

However, Mr Raven says this attitude is changing and he has noticed that “British companies are waking up to Brazil” and the massive investment opportunities available there. He believes British companies have numerous fields to explore when investing in Brazil and he calls for further efforts from the British government to promote these.

Windows of Opportunity

While he recognises that investing in Brazil is not easy, Mr Raven cites several successful Brazilian investment ventures by British companies including Lloyds of London in reinsurance and Experian in the field of credit. Credit has experienced huge expansion recently on the back of the rise in loans for retail goods and mortgages for Brazilian real estate.

Mr Raven believes that UK-Brazil cooperation should go beyond trade because the two countries have a great deal in common. He would like to see a British-Brazilian partnership on many issues including development and climate change. For his part, Mr Clegg also stressed the common ties of democracy and human rights between the UK and Brazil.

In common with many observers, Obelisk International believes that British interest in Brazilian investments has been slow to arrive given the potential for success. Like Mr Raven, Obelisk International is also aware of the pitfalls in Brazil for foreign investors without local knowledge but share his opinion that investment in Brazil “will pay off”.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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The Middle Way for Brazilian Investment | Obelisk International News

When it comes to distribution of income, Brazil has the recipe for success. As the economy and investment in Brazil grow, new wealth is shared and inequality reduced. As a result, the Brazilian middle classes are a force to be reckoned with.

The middle classes in Brazil have experienced massive growth over the last decade. They now include 105 million people, 133% more than in 1993. According to Marcelo Neri, sociologist and author of numerous studies on the Brazilian middle classes, Brazilian investments and economic activity should focus on this sector of the population.

In an interview published in the business magazine Istoe Dinheiro, Mr Neri says that Class C (earning between R$1,200 and R$5,300 a month) “represents a safe haven for Brazil”. He believes that this strong class base provides a guarantee of Brazil’s future economic strength.

New Investment Focus

Class C has greater purchasing power than Classes A and B, and accounts for 46.3% of total consumption in Brazil, making Class C the dominant class. According to Mr Neri, Brazilian and foreign companies are gradually waking up to this new social reality and adapting their Brazilian investment strategies accordingly.

The Brazilian middle classes are an important focus for investment in Brazil and businesses are fitting their products to middle class demands. These range from small items such as kitchen appliances and computers to big purchases such as vehicles and homes – the markets for Brazilian real estate and cars are among the world’s fastest growing.

Balance of Wealth

But for Mr Neri, the most important aspect of the rise in the Brazilian middle classes is that they prove inequality is being reduced. Massive government and private investment in Brazil has led to strong economic growth and the wealth from this growth is being distributed among Brazilians. As a result of this wealth distribution, Class C Brazilians are receiving better education and employment opportunities leading to a better quality of life.

Mr Neri believes that Brazil has achieved the right balance between a strong state and a strong market, a difficult feat. This “middle way” comes from public iniciatives such as the government investment in Minha Casa Minha Vida social housing and the Zero Hunger programmes. These in tandem with private investment in Brazil have achieved a spread of wealth throughout society.

As Brazil’s economic growth progresses – GDP growth of 5% is predicted for this year – the middle classes continue to grow. For Mr Neri, this growth is Brazil’s “life insurance” and what sets Brazil apart from most of the rest of the world. He claims there are few other countries where strong economic growth is matched by a marked reduction in inequality.

Obelisk International’s Brazilian investments have always focussed on the middle classes and our market research has clearly shown that Class C is a driving force behind many investment opportunities. This is particularly true of the social housing programme, Minha Casa Minha Vida, giving millions of Brazilians the chance to own a home.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Minha Casa Minha Vida Enters Second Phase | Obelisk International News

The government has just announced the second phase of Minha Casa Minha Vida, currently the largest single investment in Brazilian real estate. This phase of the social housing programme will allow millions more Brazilians to realise their dream of owning a property in Brazil.

In a recent radio interview, Brazilian President Dilma Rousseff announced the start of Minha Casa Minha Vida 2. The second stage aims to build 2 million properties in Brazil for low-income families. Dilma claims that it will now be even easier for Brazilians to buy a property and realise their dream of owning their own home.

Part Two of the government Minha Casa Minha Vida investment brings changes to the characteristics of the properties. All social housing units will be larger, tiled throughout and incorporate solar heating. A significant proportion of properties in the new phase will be for families earning below R$1,600 a month in Brazil.

Real Estate Investment Drives Economy

Dilma’s predecessor Lula was the instigator of this much-needed social housing project. Unsurprisingly, given Minha Casa Minha Vida’s excellent uptake, Dilma is a keen advocate of this huge investment in property in Brazil. “The construction of millions of homes moves factories, business and employment,” she said in the interview. For Dilma, Minha Casa Minha Vida is “an engine driving the whole economy and benefitting everyone”.

The programme’s benefits have been felt nationwide and this in tandem with the massive construction for the forthcoming sporting events will continue to create employment and wealth. In turn, this will mean more Brazilians families become part of the middle classes, one of the main drivers behind Brazilian investments.

Caixa Bank Finance

Caixa bank, the provider of finance for Minha Casa Minha Vida, has announced the second stage of funds for the social housing investment. New loans for properties in Brazil from Caixa up to mid-June came to R$30.8 billion, 4% higher than the same period last year. Caixa mortgages generally are up 17% this year.

As well as the Minha Casa Minha Vida source of funds for developers and mortgages for buyers, Caixa is the largest provider of mortgages in Brazil. The market share for the government bank amounts to over 70% and Caixa expects to approve mortgages on Brazilian real estate worth R$81 billion this year.

Obelisk International welcomes the official launch of the second phase of Minha Casa Minha Vida programme and sees this huge investment in social housing as an excellent opportunity for millions of Brazilians to improve the quality of their lives. It also opens further windows for Obelisk International investment in Brazil.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Why Brazilian Real Estate Prices Will Keep Going Up? | Obelisk International

It’s no secret that the Brazilian real estate market is booming. For many analysts, this is just the beginning of a long positive cycle for property in Brazil accompanied by steadily rising prices.

A recent article in the business magazine Exame looks at the many reasons why prices for real estate in Brazil will continue to rise. All the reasons indicate price rises are here to stay providing a compelling argument for property investment in Brazil.

Property Price Adjustment

According to Exame, house prices in Brazil have only just started to catch up with inflation. Their previous prices lagged behind inflation levels and the recent increases prove that there has been some very necessary price-adjustment in the Brazilian property market.

Exame quotes a recent study by JP Morgan into property value and income ratios. The study finds the value of property in Brazil is around 5.5 times the average annual income. In countries like China and Singapore, this rises to 11 times the average income showing there’s plenty of room for house price growth in Brazil.

Supply and Demand Drivers

One of the biggest drivers behind the boom in Brazil property is the huge demand for housing. This demand is apparent at all class levels and at the lower end, the social housing programme, Minha Casa Minha Vida is helping to address the problem.

Many real estate experts believe the Minha Casa Minha Vida programme is playing a large part in the current property boom in Brazil. The launch this week of the second phase of the programme – building 2 million properties in Brazil by the end of 2014 – has undoubtedly boosted the housing market still further.

Then there’s the lack of supply. This is highly visible in all sectors and Exame looks at the commercial real estate sector in Brazil where the shortage is particularly acute. The article finds that Brazil urgently needs new construction of all types of commercial property, particularly offices where vacancy rates are at all-time lows.

Funding for Brazilian Real Estate

While the take-up on mortgages in Brazil has grown rapidly over the last few years, the total loan rate still represents a fraction of the country’s GDP. Exame calculates that loans for property in Brazil currently stand at around 5% of GDP – Mexico and Chile come in at 11% and 18% respectively.

Brazil’s funding system means that here, too, there is plenty of room for growth. Maximum loans on Brazilian real estate are usually 65% and mortgages short term (15 years). Added to the buoyant mortgage market is the abundance of capital market alternatives. Analysts believe that Brazil has ample scope to bring in large-scale securitization over the next few years.

For Obelisk International, the Exame article highlights the fundamentals behind the Brazilian property market. The fact that these fundamentals are simultaneous and set to continue for the medium term underlines the huge potential for property investment in Brazil. The article also confirms Obelisk International’s belief that with price rises here to stay, now is the time to invest in Brazilian real estate to obtain maximum benefit from these increases.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Big Potential for Investment in Brazil’s North East | Obelisk International

As Brazil consolidates its position as a leading emerging market, north east Brazil is attracting big investment attention. For The Economist, the region is a hive of opportunities for Brazilian investment.

Containing eight states including Ceara, Piaui and Rio Grande do Norte, north east Brazil occupies around 18% of Brazil’s land mass and is home to 28% of the population. It’s the poorest area of Brazil, but spectacular economic growth over the last decade has made it a favoured spot for investment in Brazil.

With annual average GDP growth of 4.2% since 2002, north east Brazil has an impressive economic record. For The Economist, the region is “Brazil’s star economic performer”. The great strides made by Brazil to reduce poverty have been particularly effective in north east Brazil.

Multinational Investment Interest

Since 2003, the minimum wage has grown by 60% and according to The Economist, this increase in purchasing power stands out in north east Brazil. And the new north east Brazilian buying clout is attracting the attention of big-name investment in Brazil.

The food and beverage giant, Kraft Foods opened its first factory in north east Brazil in April and Fiat is in the process of building a car factory with a total investment of R$3 billion. Since 2006, a total of 52 shopping centres have opened in this area of Brazil, giving an idea of the consumer potential in the region.

Once a region workers were forced to flee from, north east Brazil is now attracting labourers and many migrants are returning home. Massive investment in Brazilian real estate and infrastructure in the area has even led to labour shortages, particularly in civil construction.

Infrastructure Building

But the biggest focus of investment in this part of Brazil is on infrastructure. Both government and private investment projects are underway in the region. Construction activity is so busy in the area that the federal Integration Minister, Fernando Bezerra claims that “right now, the north-east is one big building site”.

Infrastructure investment includes the Atlantic coast highway and the port and industrial complex at Suape. Near Suape, the southern hemisphere’s largest shipyard is under construction, indicating the scale and importance of north east Brazil investment. Rail links for freight are also being built.

North east Brazil still has ground to cover to catch up with the richer southeast regions, but all the signs are that this part of Brazil is well on the way to economic prosperity. Low unemployment, rising wages and the provision of housing through the Minha Casa Minha Vida programme will ensure north east Brazil continues to progress.

Obelisk International is well aware of the huge opportunities available in north east Brazil, an area we pinpointed for its exceptional potential for growth. The area’s new-found prosperity makes it ideal for investment in Brazil. The population’s rising purchasing power also makes north east Brazil perfect for real estate investment, right across the property spectrum - from social housing to high-end luxury.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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Retail Investment in Brazil Tops Index | Obelisk International

When it comes to retail investments, Brazil has the highest market potential among 30 developing countries. And investment in Latin America retail opportunities dominates the rankings.

AT Kearney’s annual Global Retail Development Index is topped by Brazil with Uruguay and Chile in second and third places. This dominance of Latin American investment in retail indicates the potential to be found in the continent.

The 2011 Index reflects the change in global investment direction over the last year. The Index reports that “developing markets now drive the agenda in global arenas” with a clear advantage for South America. Continued growth and “lack of investment fatigue” has made investment in Latin America a favourite with retailers.

Brazil is Best Retail Investment

Brazilian investment tops the Index, a climb of four places from the 2010 edition and an impressive hike from the bottom of the first Index in 2002 when Brazil ranked in 30th position. For AT Kearney, retail investment in Brazil is backed by an expected GDP growth of 5% over the next few years, a “large and mostly urban population” and massive retail sales.

The forthcoming sporting events are highly influential in so many areas for investment in Brazil and retail investment is no exception. AT Kearney cites the 2014 World Cup and 2016 Olympics are two factors behind retail potential because of the significant investment in Brazil planned for both events.

The Index notes that retail investment in Brazil “is on the rise”, driven by strong consumer demand and high spending. Several prominent foreign brands are about to move into Brazil such as Debenhams, H&M and Topshop, while Burberry entered Brazil last year.

Explosion of Shopping Malls

Major Brazilian real estate investments are also responsible for retail growth, particularly shopping centres. The rise in the number of shopping centres in Brazil has been spectacular over the last two years – for AT Kearney, shopping centres “have exploded”.

Shopping centres make up some 20% of all retail sales in Brazil and are increasingly popular with Brazilian consumers. 25 shopping malls opened last year and 30 more are planned for this year.

More than half the centres have been built in the south east of the country, home to a sizeable percentage of the Brazilian population. However, the south east is not the only area with retail investment potential. According to AT Kearney, there is “future opportunity for additional real estate investment in the north and east of Brazil”.

For Obelisk International, Brazil’s top ranking in the Retail Development Index comes as no surprise. The meteoric rise of the middle classes – an ongoing process – carries endless opportunities for Brazilian investment and retail is no exception. Obelisk International expects Brazil’s potential to expand still further as the country consolidates its economic and social position within global investment destinations.

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Excellent Quarter for Brazilian Investments | Obelisk International News

Brazil has just published its economic results for 2011’s first quarter. Highlights include a GDP growth of 1.3% and an 8.8% increase in investment in Brazil.

The 1.3% growth for the first three months of this year came as no surprise to analysts who continue to predict a healthy 4% for Brazil’s annual GDP. The fastest-growing sectors over the last quarter were Brazilian agriculture with a quarterly gain of 3.3%, followed by industry with 2.2%.

Year-on-year figures show a 6.2% increase in Brazil’s GDP. Top performing sectors over the last year include industry (7.4%) and services (4.9%). Within industry, mineral extraction and civil construction were the largest growing sub-sectors since Q1 2010.

Civil construction grew by 9.2% in the year to April 2011. This huge increase was driven by intense activity in the Brazilian real estate market, particularly within the social housing programme, Minha Casa Minha Vida. The building and upgrading of infrastructure for the 2014 World Cup and 2016 Olympics is also another factor behind the rise in construction in Brazil.

Big Investment in Brazil

As well as strong internal demand, the last year has seen big investment in Brazil. Brazilian family spending grew by 6.4% over the last 12 months, reflecting the rise in employment and wages. Strong household consumption is a major attraction for multinationals investing in Brazil.

In terms of Brazilian investment spending, figures increased by 8.8%. According to the Brazilian Statistical Agency (IBGE), this was due to the expansion of imports and the rise in manufacturing.

For government and Central Bank analysts, the latest quarterly figures show that GDP growth is steady. Quoted by Bloomberg, the President of Brazil’s Central Bank, Alexandre Tombini said that the Brazilian economy was now expanding at “a rhythm that is more consistent with internal and external equilibrium”.

Q1’s steady economic growth shows that government measures to rein in inflation are working. The policies of tightening public spending and raising interest rates are set to continue at least until the end of this year to allow Brazil to keep inflation under control.

For Obelisk International, the latest economic figures reiterate Brazil’s potential as an investment destination. Steady and controlled growth is an essential ingredient for successful investment anywhere and Brazil is showing every sign of a maturing market. Obelisk International believes this confirms the excellent future for Brazilian investments.

Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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