EMS stars real estate area with bank of land
Valor Econômico
The pharmaceutical company EMS, largest laboratory with national capital, leader in the manufacture of generic drugs and earnings of more than R$ 2.2 billion (US$ 1.1 billion) last year, makes its first incursion outside of medicine business. It stars in the real estate sector with a land developer that is already born with a bank of land capable of generating more than R$ 2 billion (US$ 1.1 billion) in launchings. A valuable amount of assets of the very company and of the equity of the shareholders of EMS, the controller, Carlos Sanches, and his two nephews - now the raw-material of the new company. Besides the properties distributed through the region of Campinas and the Metropolitan Region of São Paulo - the two plants of EMS are located in Hortolândia and São Bernardo do Campo -, the heating of the real estate market also stimulated the owners of the laboratory to try the new path. R$ 20 million (US$ 11.1 billion) have already been invested in the business, including the purchase of plots (some acquired in exchange transactions) and setting of the structure.
Named ACS Incorporadora, the land developer will have fairly comprehensive performance: from division of land into lots to residential and commercial real estate. The focus is real estate within the limits of the Housing Financial System (SFH, in Portuguese, which allows the use of the FGTS (Employment Security Fund) for the purchase of the property), which goes up to R$ 500 thousand (US$ 277.8 thousand), but the company also intends to operate in the luxury market and, occasionally, in the low-income. There is already a land lot in Sumaré, for instance, that should be used for an undertaking in the low income segment.
In order to head the new operation, EMS hired Silvio Chaimovitz, Executive with 24 years of experience in the real estate market who has spent the last ten years at Klabin Segall. Chaimovitz entered in the operation at the end of last year and he has already started buying land. "Our goal is to launch R$ 250 million (US$ 138.9 million) this year", he says. The business plan of the company is already structured so that, within three years, it is capable of generating earnings of R$ 500 million (US$ 278 million). For 2011, ACS Incorporadora has plans to launch R$ 400 million (US$ 222 million); in 2012, R$ 600 million (US$ 333 million) and; in 2013, from R$ 700 million (US$ 389 million) to R$ 800 million (US$ 444 million). "The goal is to put up a large-sized company", says the new President. Besides the regions of Campinas and the Metropolitan Region of São Paulo, the land developer also intends to have strong operation in the segments of middle and high class in the city of São Paulo - market that entered the radar of several companies.
The first launching of the pharmaceutical company in the real estate area is a luxury residential condominium sitting at a 15-thousand-square-meter area located in Barão Geraldo, district of Campinas. It features 55 homes sold at prices between R$ 430 thousand (US$ 239 thousand) and R$ 450 thousand (US$ 250 thousand). The largest piece of land of the new company is an old farm with more than 20 million square meters, divided between the municipalities of Paulínia and Jaguariúna. Only that land should generate launchings of nearly R$ 1.5 billion (US$ 833 million) - all other projects amount to R$ 500 million (US$ 278 million). The project that involves an urban development complex and was delivered to American architecture office will be a mixture of residential, commercial and industrial undertakings.