With the end of 2014, a quite challenging year, particularly considering the economic scenario, which since 2012 has been presenting poor results and that registered a GDP growth of less than 1%.

Before such economic situation, we had to review our priorities, processes and also our structure in order to keep us responsive and effective to continue to grow and to keep us in the position of one of the best real estate companies.

Our customers did the same: they reorganized. Mainly focusing in reducing expenses, they consolidated their operations, cut down spaces and people from their teams. It was left to us, at C&W, who manage over 14 million square meters for corporate customers, to help them in this endeavor.

Despite the current economic environment, 2014 also brought some good news. Our teams, stronger and more committed, acquired new customers providing us more respect from the current ones. We have acquired important business such as the greatest commercial rental of the year in Rio de Janeiro (24,000 m2); we have expanded our operations in the sector of evaluation and feasibility studies, which currently includes a team of 55 people; we expanded our corporate customer management portfolio in Brazil and Latin America; we sold over 500,000 m2 of industrial buildings and rent over 50,000 m2 of logistics warehouses and 80,000 m2 of corporate spaces.

These results crowned the year of 2014, when we completed 20 years in Brazil.

In the rental market for both corporate and logistics properties prices dropped by economic pressure and also by the volume of new stock, released in the same time. The vacancy rate increased for corporate properties and diminished in the logistics market, which absorbed almost the entire new stock delivered. Despite the reduction, prices decreased not as much as the capitalized investors expected. We believe that in 2015 there will be more favorable offers to investors for acquiring new properties and to occupants to consolidate their operations in better and more cost effective buildings before the market. That is, the key message is that in spite of the negative economic scenario, there will be good business open to us in 2015.

We expect that the next year will be similar or better than 2014. Let’s hope that the government’s reforms bring us more optimism in 2015.

 See you all next year!