25oct'22

New letting in Rio

The commercial real estate market in Brazil has been in turmoil since the recession in 2015. Just when things seemed to finally move in the right direction, Covid pushed the market further down.

On a positive note, there are now clear signs that things are finally picking up. It had been a while since we were able to report a new letting in Rio but we are happy to report that Vabrad, 100% subsidiary of Vabeld, let a 2.500 square meter office building in rua Teofilo Otoni to CIEE, a prominent university. The previous tenant, also a university, had left the building in 2018.

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