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UBS sets up real estate venture in Brazil as prices dive
Office vacancy rate in Sao Paulo and Rio de Janeiro above 22 per cent in second quarter, a record high
Add BT as a preferred sourcePublished Wed, Oct 12, 2016 · 09:50 PM
Sao Paulo
UBS Group AG is betting on Brazil real estate.
The Swiss bank is starting a new business that will help investors capitalise on reduced property prices after a two-year recession, the firm's Brazil chief executive officer, Sylvia Coutinho, said in an interview in Sao Paulo. Specialised consultancy Real Estate Capital (REC) will work exclusively with the team, and REC CEO Moise Politi will head the initiative, Ms Coutinho said.
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