US investors look to Brazil
Commercial real estate investors in the US are "ogling and waving fistfuls of dollars" at Brazil’s retail sector, according to new reports.
Following the sub-prime crisis in the US, which has seen some commercial developments reaping returns as low as three per cent, investors have been drawn to Brazil where the economy attracted $3 billion (£1.5 billion) in US investment last year, reports the New York Times.
Mr Fabio Maceira, head of commercial real estate and money management firm Jones Lang LaSalle Brazil, explained to the paper what makes Brazil so attractive to investors.
He said: "We are seeing a very good moment in Brazil. There’s a considerable amount of markets and dense enough population to support shopping centres in middle markets as well as in Rio and Sao Paulo.
"It makes us feel there is a very bright future in Brazil."
His comments were backed up by Gary Limjuco, director of equity investments for Time Equities, who asserted in the article that "people have already looked at India and China" and are now seeking the next investment hot spot.
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