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General Electric Co. commits to Brazilian real estate
One of the world’s largest commercial real estate investors, General Electric Co. (GE), announced its commitment to the Brazilian market at the Reuters Real Estate Summit, held at the end of last month in New York. The company revealed its intention to enter the property market in Brazil, which in GE’s case means investing hundreds of millions of dollars, in order to increase its exposure to the growing Latin American economies.
GE Real Estate’s President of North American Equity, Joseph Parsons, said that the company has just begun to form its Brazilian real estate team and that they “see Brazil as maybe the next Mexico”. GE has already invested vast amounts into Mexican real estate over the last ten years, and is set to invest $400 million into the country’s industrial sector alone.
About Brazil, Parsons went on to say, “The country is stabilizing; the government is proactive and business-oriented; it has enormous natural resources; it has a growing middle class; it has a lot of positive dynamics." Brazil’s economy is experiencing a boom period, with experts predicting 4.3% GDP growth this year, as well as an increase to foreign investment. This is in part thanks to a government actively seeking investment from abroad and committed to creating an environment conducive to international commerce.
Where GE Real Estate goes, other international investors tend to folllow; the company’s investment strategies are among the most analysed and duplicated of any in the real estate industry. This direct and sustained investment into Brazilian real estate can only help its profile on the world stage.
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