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Fortaleza one step ahead of Brazil

When it comes to foreign investment, tourism and real estate, some regions of Brazil are moving faster than others. This is certainly the case in Ceará, Northeast Brazil, a state registering high volumes of investment and buoyant business tourism figures. In terms of real estate, the Fortaleza property market too is marching one step ahead of the rest of the country.

Foreign Investment Drawn to Ceará

According to figures released by the Brazilian Ministry of Labour and Employment in early October, Ceará is second highest focal point of foreign investment in Brazil by individuals. In the three months between April and June this year, the state received foreign investment funds to the tune of R$6.03 million.

This amount brings Ceará to the head of the most popular places in Brazil for international investment and the state was second only to Sao Paulo in terms of investment funds. Infrastructure in Ceará drew the majority of investment, particularly the renewable energy sector in the state.

Pecem Port and its steel manufacturing facilities also attracted foreign interest along with tourism and real estate. The Fortaleza property market, currently one of the few registering upticks in house prices, remains a focal point for international investment.

Fortaleza Property Market Ahead

One of the indicators of the strength of the Fortaleza property market can be seen in the number of launches of new-build homes taking place in the city. A company currently building several developments is Dibra, whose chief engineer Wandocyr Romero recently gave an interview to El Povo newspaper.

According to Romero, when you consider the whole of the Brazilian property market, Fortaleza appears to be the city least affected by the economic crisis. “The cycle has definitely bottomed out,” he said, adding that he fully expects to see the Fortaleza market moving strongly upwards from early 2017.

Dibra is currently focusing on high-end property in Fortaleza, particularly in the Praia do Futuro and Dunas districts. Romeno highlighted the fact that his company has pinpointed strong demand for houses located in natural areas. In the latest FIPEZAP price index for Brazil, prices for property in Fortaleza rose by 2.2 per cent in the year to September.

Fortaleza Business Tourism Booming

The Ceará Conference Centre (CEC in Brazilian) based in Fortaleza continues to go from strength to strength. The last quarter has proved particularly good for business tourism. In July, around 120,000 visitors passed through the Conference Centre at the numerous events held during the month.

Two events in September brought the CEC to national attention. Early in the month, the Brazilian Accounting Congress took place with 8,000 attendees. The event led to over 90 per cent occupation in hotels in Fortaleza with around R$15 million in revenue for the city. Similar figures were expected at the National Cardiology Congress taking place at the end of the month.

“These are the sort of the events that put Ceará on the national map as a conference centre,” said Livia Holanda, Managing Director for the CEC. She added that Fortaleza and Ceará were now serious competitors for conference destinations in Southeast Brazil.

“These latest figures clearly show that Ceará is attracting interest and investment from foreigners,” said Dies Poppeliers, Managing Director of BRIC Group. “The new industries at Pecem Port, set to expand further still over the next year, will continue to create employment opportunities. This in turn will put added pressure on the property market in both Fortaleza and nearby resorts.”

An investment company specialising in global real estate opportunities, BRIC Group is currently developing The Coral resort, in Northeast Brazil, a luxury beachfront resort. BRIC Group also offers US real estate investments including turnkey properties in Florida and Houston, and land plots in Florida. BRIC Group has been creating wealth for its clients since 1996 and has offices in Brazil, Dubai (consulting office), Hungary, Spain and the US.

(Source: SETUR, Ministry of Labour and Employment, O Povo)

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