Building tool makers to move to Brazil real estate sector?
Construction equipment manufacturers are aiming for a move to the Brazilian property market following the collapse of the Spanish sector, according to an industry analyst.
Writing for the Gerson Lehman Group website, an expert contributor alludes to a Wall Street Journal article, saying machinery makers are following the lead of real estate firms and looking to diversify their sales.
"The most aggressive real estate players are eyeing Brazil as one of the few reliable sources for growth," the analyst says.
According to the source, the collapse of the Spanish market has had a knock-on effect on construction equipment sectors.
The expert reports that exaggerated demand for building in the European country created an "unsustainable market" for cranes, trucks, tractors and mechanical diggers.
Meanwhile, Helio Cerqueira, a partner at car-parking facility owner Allpark, this week told Reuters that investment firm Banking and Trading Group has bought a 50 per cent stake in his company to take advantage of the "lucrative and booming" Brazilian property market.
