BrazilApril 06, 2010
The realtors of Gujarat have eyes on the Latin American market. Around 100 developers and builders of the state plan to spend a 10 day span in Argentina and Brazil to explore the realty markets of these countries.
The president of GIHED, a developer body in Ahmadabad, Suresh Patel believes that the economy of Argentina and Brazil is similar to that of India. According to him, this survey will prove as an excellent opportunity to compare Indian market with the Latin American market. Although Brazil belongs to the BRIC nations, the economy of Argentina has been growing at 8-9 percent per annum. The builders will show up at Buenos Aires, the capital of Argentina, also known as ‘The Paris of South America. São Paolo and Rio de Janeiro which are one of the largest cities in Brazil and are considered to be safe as far as realty investment is concerned will also be explored by them.
The plans of builders don’t end up with just having a meeting with local analogues, rather they also plan to jump into some joint ventures. Mr. Patel also added that they will try to go deep into the collaboration between town planning and acts which exist in these cities.
The realty sector of Dubai was also surveyed by a similar group of developers in January. When Mr. Patel was telling that the realty sector in Gujarat was much more risk free, he also told that although the cost of property in Dubai are low, the developers are still doubtful about investing there since the return on investment does not seem to be a good one.
