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Related Brasil prepares to launch first major development in Sao Paulo

July 30, 2012 03:00PM

Jorge Perez

After years of planning for its Latin American expansion and the launch of Related Brasil earlier this year, Related Group is finally set to break ground on its first Brazilian development by the end of the year, the Miami Herald reported. The plan is to develop a 5 million-square-foot mixed-use high-rise in Sao Paulo with residential towers, office and retail space and a hotel.  “It will require an equity investment of hundreds of millions of dollars and will be much bigger than anything that we’ve done as a single project in Miami,’’ said Related CEO Jorge Perez. Related is looking to expand to other parts of Brazil as well, through collaborations with local construction companies in anticipation of the 2014 World Cup in Brazil and the 2016 Olympics in Rio de Janeiro. [Miami Herald] – Christopher Cameron