After many years of negotiation the Federal Government, Ministrio Pblico Federal (MPF) has granted the state of Paraba permission for the construction of a conference centre in the state capital of Joao Pessoa. The centre will be constructed in Cabo Branco, a tranquil area with a splendid beach and great restaurants and bars. It is Joo Pessoa's number one residential district and an ideal investment location.
The building has an estimated budget of $50 million and initial works are due to start in September according to Infrastructure Secretary, Francisco Sarmento. The Government of Paraba fulfilled all of the terms established in an Agreement with MPF at the beginning of August 2009.
The land upon which the convention centre is to be constructed is part of a large master-planned area with proposals for at least six large resort hotel plans. The land had been the subject of legal arguments for the last 20-years, stopping any development.
The State and Federal authorities had, until now, been unable to reach agreement regarding the protection and replanting of native vegetation, safeguarding of the beaches and investment into regularizing the water supplies for the area. However, now agreement has been reached it is widely expected that planning permissions will be granted and development commenced rapidly.
This approval is expected to bring a boom in tourism to the area with the construction of many new hotels and resorts to accommodate the burgeoning number of visitors attending new cultural events and conferences. The knock-on effect will of course be a surge in real estate values, which is good news for the canny investors who already have Joao Pessoa on their radar.
The state of Paraba contains one of Brazil's hidden gems. Joo Pessoa is a great investment alternative to Brazils high density, high-rise developments in larger cities. Joo Pessoa is the gateway to Europe and home to the eastern-most point of the Americas, Ponta do Seixas.
It is officially the world's second-greenest city, full of squares, gardens and areas of preserved natural forest. It is also Brazils safest city, offering inhabitants and visitors the chance to explore without limits its mouthwatering restaurants, lively bars and extensive shopping areas.
The city has a very rich and varied cultural programme that is actively backed by the local council. The wide range of activities covers just about every area of the arts, from literary gatherings and art exhibitions to large-scale classical and popular music festivals.
Paraba and Joo Pessoa in particular, is experiencing rapid growth within the domestic market due to its economic expansion and migration from the south, and international interest is growing apace. This area offers investors excellent year-round rental prospects due to its 12-month season, as well as a growing stream of international investors and domestic buyers should they wish to sell on their investments. The development of the Conference centre and the proposed hotels and resorts will only increase the investment potential of this great city.
More Information:
Leslie Richards wrote this piece and is a development consultant to Brazil Land Invest. There is a huge demand in Brazil, especially the North East, for
Affordable Housing and we advise you to visit our site
Brazil Land Invest for more information.
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