Destination for celebrities and new rich people from Rio who are looking for more modern and equipped condominiums to live in, Barra da Tijucano Rio de Janeiro, has become a kind of goose that lays the golden eggs for Brazilian companies. Companies know that investing in new real estate projects locally is synonymous with sales success. From a business point of view, there is only one problem, which is difficult to overcome: it is increasingly difficult to find land suitable for building a condominium. A building with many units and a robust leisure area needs space. Therefore, in recent times, it has become a great challenge to find a well-located address, of a good size and, preferably, with a clean area, in order to allow construction to begin as soon as possible.
According to the law of supply and demand, rising demand for available products drives prices sky high. This explains the astonishing figures for a deal that has just been closed in Barra. It involves the sale of a 30,000 square meter plot of land in the neighborhood for 370 million reais. This space reaches the banker Aloysio Fariadied at age 99 in 2020 and responsible for financing the banks Real It is Alpha. The land in question was inherited by his five daughters. Puente, these heiresses had the task of deciding what to do with that heritage. When she acquired the land in 1989, the banker’s idea was to build a Transamérica hotel in the area, but the project never went ahead. As Farias’ daughters were never interested in their father’s business, investors in the real estate market were already waiting for the land to be sold.
THE TWO PARTNERS OR BUSINESS
The commercialization of the area was publicized by columnist Lauro Jardim, from The globe. Each square meter costs just over 12 thousand reais. It was simply the biggest real estate transaction of the century in Rio de Janeiro. Dividing the sale value between five heirs, each one keeping the equivalent of 74 million reais in their purse. Not bad, right?
No real estate brokerage brokering the sale. The buyers are two large developers: one Tegra Yes San José, who purchased the land directly from the owners. The two companies joined forces to acquire this land, but have not yet released plans for what they hope to do at the address. São José is a developer known for its high-end projects in São Paulo, I feel like one of them turned into a huge headache. The city hall embargoed the work due to documentation problems and it is at risk of being demolished. Partner with São José in purchasing the space in Barra, Tegra has also been investing in the high-income niche.
Based on the profile of the companies involved, a new luxury condominium should appear on the site.