Walmart to invest in Brazilian property
US retail giant Walmart will invest 1.6 billion reais (£0.49 billion) in Brazil and open 90 new stores, investing in Brazilian property.
The company has increased its investment by a third, which may give a boost to Brazilian property owners.
Hector Nunez, chief executive of Walmart in Brazil, said: "The worst is over and from here on we will have a rebound in Brazil’s economy."
The company boss added that he expected the economy in Brazil to improve, growing by 1.5 per cent to 1.8 per cent in the second quarter of this year.
He stated that the company "will have a good year" saying growth so far is "quite positive".
Mr Nunez said: "For the second quarter we have a good performance, if not as good as the first."
Earlier this week, financial firm Threadneedle said more people are looking to invest in Brazil, Russia, India and China as their recovery is growing at a fastest rate.
