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Daniel Cherman

2012 Brazil Summit Infrastructure Outlook. Daniel Cherman. Summary. Brazil Overview Country Challenges Work in Progress São Paulo’s market. Country Overview. Brazil - 1994 to 2002 Focus on inflation control Economy Stabilization Solid Institutions. North Tower – São Paulo, Brazil.

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Daniel Cherman

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  1. 2012 Brazil Summit Infrastructure Outlook Daniel Cherman

  2. Summary Brazil Overview Country Challenges Work in Progress São Paulo’s market

  3. Country Overview • Brazil - 1994 to 2002 • Focus on inflation control • Economy Stabilization • Solid Institutions

  4. North Tower – São Paulo, Brazil • First Class A office building in Brazil Completed in 2000

  5. Country Overview • Brazil – 2002 to 2010 • Focus on Social Programs • Economy on track with inflation under control • Rising middle class, 2003 to 2009: 36 million people

  6. Inflation Inflation: converges gradually in 2012. Source: Itaú BBA

  7. Real Interest Rate (Pre-360 – Inflation Expectation) Lower Interest Rates (and other macro-prudential measures) Scenario Source: Itaú BBA

  8. Ventura Corporate Towers – Rio de Janeiro, Brazil • First Class A building in Rio de Janeiro First phase completed in 2008 and second phase in 2010

  9. Country Overview • Brazil – 2010 to 2014 Infrastructure Challenge • Stabilized Economy • Decrease of interest rate with inflation under control • Rising middle class : • 2009 to 2014: estimates of 28million people • 2014 is to incorporate also 53 million ascending from class E+D

  10. Country Challenges • Education • Lack of qualified labor force • Urban infrastructure • Public transportation • Long term urban planning • Roads Deficiency • Airports vs. future demand • Greater participation of the Private sector

  11. Work in progress • Federal and State Investments • Municipal Investments - Urban Operations • Public / Private Partnerships • Public and Private Concessions Expectation of an increase on infrastructure investments of R$1Trillion until 2020 SourceBloombergand Itaú Unibanco

  12. Exchange-Rate Scenario Scenario Source: Itaú BBA and BCB

  13. Inflation Headline inflation stability is increasingly dependent on lower tradable inflation IPCA YoY: Tradables vs. Non-Tradables Source: Itaú BBA

  14. Green Towers Brasilia • First Class A building and first Green building, Leed Certified, in Brasília First phase to be completed in 2012

  15. Economy Growth to Lat America Miami, USA Recife Mexico City, MEX Brasília Rio de Janeiro São Paulo São Paulo, BRA

  16. Infrastructure – Sao Paulo Ring Road – West (in operation) Ring Road – South (under construction) Ring Road – East Ring Road –North Roads

  17. City Dinamics – São Paulo Downtown R$35/sqm US$ 19/sqm Faria Lima R$180/sqm US$97/sqm Alphaville R$60/sqm US$35/sqm Paulista R$100/sqm US$54/sqm Marginal R$120/sqm US$65/sqm Marginal South R$100/sqm US$54/sqm Ring Road – West Marginal South Downtown Paulista Faria Lima Marginal Alphaville Roads

  18. 2012 Brazil Summit São Paulo Infrastructure Thank You!

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