The state of Ceara in Northeast Brazil is home to one of the BRIC Group investment products, The Coral resort. Since this part of Brazil is particularly relevant to our investors, the news section includes many articles about the state, its economy, employment situation and property market. Articles focus on certain aspects of the state economy with particular emphasis on foreign investment in Ceara; activity and expansion at Pecem Port; and tourism in this part of Northeast Brazil. News articles also cover references in foreign travel publications to certain aspects of the Ceara scenery such as the beaches, increasingly popular with foreign holidaymakers. You will also find articles about the latest developments in Fortaleza, the capital of the state. The city is currently experiencing a boom in tourism and infrastructure, reflected in our regular news articles.
The property market in Ceará in Northeast Brazil has always followed a slightly different track to the rest of Brazil. Property in Fortaleza, the capital, grew faster than the majority of Brazilian cities prior to 2016 and this year, property prices have continued to grow.
Foreign investment in Ceará continues to pour in this year. The latest multinational drawn to the region by its strategic location is a Chinese-backed electrical company. This is the first of several planned investments and brings welcome capital and employment opportunities to the state.
The recent investment and expansion of Ceará free trade zone has attracted the attention of world experts. Pecem Port has just received one of the top accolades in the annual Global Free Zone awards. This combined with a significant uptick in handling at the port this year firmly places Pecem Port on the world map for trade.