05/31/2023 14h03

State government closes NY Mission with positive balance for investments in the state

Governor's visit to an urban transformation project after partnership between the public and private sectors marks the final day in the US


The conclusion of the São Paulo state government’s mission in New York was marked by the exchange of public and private initiatives focused on urban development and quality of life in major cities. On Friday (12), Governor Tarcísio de Freitas and other authorities from the São Paulo administration visited the Hudson Yards complex, an ambitious real estate development that has revitalized a previously degraded area with no tourist or economic appeal in the US metropolis.

“We aspire to bring to São Paulo the best examples of urban revitalization seen in major cities worldwide. Here in New York, Hudson Yards is a reality and an example that the collaborative efforts of public administrators and the private sector are crucial and fundamental in swiftly transforming the lives of entire populations with more jobs, income, services, and quality of life,” said Tarcísio.

The governor of São Paulo met with executives from Related to learn more about the partnership between the company and the public sector. The São Paulo state government aims to gather successful urban revitalization experiences and enhance local plans to transform the downtown area of the state capital, particularly the regions of Santa Cecília and Campos Elíseos.

The visit was also attended by the Chief of Staff, Arthur Lima, and the state secretaries Jorge Lima (Economic Development), Natália Resende (Environment, Infrastructure, and Logistics), Lais Vita (Communication), as well as the President of InvestSP, Rui Gomes Junior.

The revitalization of the Hudson Yards region began just over a decade ago, in areas on the banks of the Hudson River previously occupied by industrial warehouses and railroad tracks. With the inclusion of residential buildings, commercial towers, cultural and gastronomic attractions, and a public park, Hudson Yards has transformed into one of the largest real estate developments in the United States. Spanning an impressive area of over 113,000 square meters, this project attracted investments totaling US$25 billion.

Summary of the NY Mission

At the end of the mission in New York, the state government made a positive assessment of the meetings with leaders of large global asset management groups, banks and investment funds. “Both in São Paulo and abroad, we are leveraging the mechanisms of development and showcasing the unique partnership opportunities that our state offers to executives from Brazil and around the world,” said the governor.

With a portfolio of projects estimated at R$ 180 billion between public and private capital, the state government has already showcased the portfolio during three international missions since January. The state evaluates the viability of concessions, privatizations and PPPs in areas such as urban development, sanitation, intercity transport on highways, waterway and rail systems, water resources and infrastructure.

In NY, the governor made presentations to executives from international enterprises at the LatAm CEO Conference Itaú BBA and GRI Latam Infra & Energy 2023 events. Tarcísio also had lunch with directors of the Bank of America and Goldman Sachs banking groups, in addition to rounds of meetings with asset managers from global funds Blackrock, CIG (sovereign fund of Singapore), Pátria Investimentos, Macquarie and GQG.