Real estate rockets in Brazil

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Prime office space in Rio de Janeiro has overtaken that of New York as the most expensive in the Americas according to a study by Cushman & Wakefield South America, and Sáo Paulo is close behind in third place.

The main factor behind high prices in Brazils main cities is the mismatch between low supply and huge demand and for many companies it has become critical to have an office in the right location, close to clients and/or suppliers. When Dennis Mills, chief executive of MEI, was recently asked to sum up Brazilian metropolis Sáo Paulo in three words, he chose: Sophisticated. Innovative. Dynamic. Often overlooked in favour of Rio de Janeiro when it comes to a share of the sports hosting headline spoils, Brazils Land of the Drizzle has much to offer the major events industry, expensive business real estate aside, not least due to its role as a major host city in the 2014 FIFA World Cup. Due to the importance of this exciting city, MEI is keen to explore opportunities there and has been in dialogue with the citys mayor and his management team about how to attract more iconic events to Sáo Paulo. There are discussions for a major conference also in Sáo Paulo that would help shape the future direction of its events industry. Furthermore, the growth of MEIs Major Events Network, a professional membership scheme, will include Sao Paulo in 2012.

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