pedro CW nordesteResults of the survey Consumer Polling – Travel Intent (Sondagem do Consumidor – Intenção de Viagem), conducted by the Ministry of Tourism, in partnership with Fundação Getúlio Vargas, in December 2014, confirm: the Northeast region is the preferred destination of many Brazilians for spending their summer vacation. And a closer look to the scenario, mainly to the metropolitan area of some capitals — as Recife (PE), Salvador (BA) and Fortaleza (CE) —, reveals that the region has been chosen by many companies to settle.

Again, the numbers confirm this trend: just in Recife it was delivered over 180,000 square meters of offices over the past two years. “Initially, the market got alarmed with this volume, but is reacting. Some contracts were promptly entered in January. Some companies from São Paulo and Rio de Janeiro are moving to our region, while others are moving from older offices to new ones”, says Pedro Poletto, General Manager at C&W Northeast, and continues: “And, for 2015, we are expecting an availability of over 70,000 square meters of offices”.

A similar movement — in a lower scale though — is also happening in Salvador and Fortaleza. “This is what we call “fly-to-quality” . This is the opportunity to find a high standard office paying, in many cases, the same amount you are paying now, with some benefits, such as grace period, room with finished floor, ceiling, among others. Property owners are more flexible to attract and retain new demands”, explains the executive.

Another expanding category in the real estate market in Recife — and which increasingly spreads in Salvador and Fortaleza — are the logistics condominiums, in which different companies rent modules in the same building and divide expenses with maintenance, common area, security, reception, cleaning etc. Typically, the warehouse provides raised docks, ceiling height ranging from 10 to 12 meters, and proper structure which allows, for instance, the traffic of trucks — the more modern and sophisticated, the better for our customer’s operation. And the investor, in 99% cases, builds without a known customer, being called, then, speculative warehouses.

“This niche has been developing since 2008, with full thrust in 2015. Every company needs a distribution center — supermarkets & retailers, plants or even florist shops”, explains Pedro, and goes on: “Many companies started the new year looking for these condominiums to rent, as they cannot wait for 10 months to build a new one”.

And construction sites are popping everywhere. As warehouses and offices are being absorbed by the market, projects developed by construction companies are being effectively built. With no rush. “The Northeast is the Brazilian region expected to present the best investment opportunities over the next 20 years”, concludes Poletto.