12/29/2008 10h22
Commercial segment keeps sales rhythm and attracts new projects
Valor Econômico 12/29/2008
Traditional building companies of the residential segment are focusing on the commercial enterprises, in which the demand is bigger. If, on one hand, the purchaser of a residential property is more cautious and is waiting for a definition of the situation, on the other hand investors are taking fewer risks and giving more value to real assets to form their portfolios. In this new context, commercial properties with small rooms have been gaining the preference of developers. Eztec, which has worked in the residential market for 30 years and made its first commercial undertaking this year, redirected its business in the short term. Three out of the four launchings foreseen for the first half of 2009 will be commercial undertakings. The company is even turning residential projects into commercial ones. The largest piece of land of the company in São Paulo - with 26 thousand square meters located at the Berrini avenue, in the South side of São Paulo - would be a mixed undertaking with both residential and commercial properties. However, the new setting changed the plans of the company. "We will have several towers, but the undertaking will be 100% commercial", affirmed Fugazza. Brascan, which purchased the Company, also had a good result in a commercial undertaking in Barra da Tijuca, Rio de Janeiro. In two weeks, 92% of the project had already been sold. "Most of the properties were bought by investors", said Luiz Rogélio Tolosa, Officer of Relations with Investors. The company intends to set aside 10% of the launchings of 2008 to small-sized commercial buildings. Even Cyrela, which has a conservative profile and a branch aimed at large size commercial undertakings, Cyrela Commercial Properties (CCP), had good results in three small commercial undertakings, in Rio de Janeiro, Porto Alegre, and São Paulo. The one in São Paulo, with general sales value (GSV) of R$ 55 million (US$ 23.9 million) was fully sold in 48 hours. "The product was launched during the most difficult moment of the international crisis and had such result", said Ubirajara Freitas, during a presentation to investors and analysts.
