Land plot development in Papicu

Plot development in the centre of Fortaleza

The land plot is located in the district Papicu where Exact Brazil also develops the project Enseada Reserva. Papicu is adjacent to the business center Aldeota and has the highest plot ratio in Fortaleza (300%). Today, Fortaleza evolves towards Papicu, and Brazil's third largest shopping center will be built in the surrounding  area (expected to open in 2015). At the current plot, approx. 5,500 m2 of residential real estate can be built, but aquisition of the neighboring plots facing the Avenida enables an office project to be established instead, which raises sales prices by 20-25%.

    Location:  Fortaleza, Ceará
    Type: Acquisition of land plots in the district Papicu to be sold as Permuta
    Size: Plot of 1,600 m2 is acquired - intention to buy a total of 4,000 m2.
    Ownership share:    50 %
    Partner:  Paroma Construcões (50%)
    Sales status:  Expected sales start 2016
    Revenue: NN
    Completion: 2017/2018
    Status: Purchased

     

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