São Cristóvão goes through a process of modernization and attracts entrepreneursLeitura de 5min
Rio de Janeiro is investing in the recuperation of the central region and surrounding areas. This new scenario is driving the development of the city’s real estate sector.
Investments in infrastructure, transportation and urbanization are helping to change the image of the state of Rio de Janeiro. This new situation is also driven by the fact that the city is hosting the 2014 FIFA World Cup and the 2016 Olympic Games. Rio is revealing its potential in various sectors of the economy and regaining its importance in the real estate sector. Today it is not difficult to find properties in the central region of the state capital that have a value per square meter well above the market average – a factor that is also pushing up values in areas near the center, from the Docklands area to the São Cristóvão neighborhood in the North Zone.
São Cristóvão is currently experiencing a comprehensive revitalization process, a result of the city’s Plan for the Integrated Restoration of the Imperial District of São Cristóvão.
This project is designed to improve connections with Avenida Brazil and the Linha Vermelha expressway and between the region’s most important streets. Plans include building a covered walkway with an escalator to provide access to the subway station; providing easier access to the planned high-speed Rio – São Paulo rail link at the Leopoldina station; building a public square at the intersection of São Cristóvão and Pedro II streets; and encouraging development of new residential projects that take advantage of the Urban Organization Project.”
Data from the Association of Real Estate Directors (Ademi) indicate that 20,000 new residential units will be built in the Center, Cidade Nova and São Cristóvão regions through the next 20 years, an average of 1,000 units per year. There is also high demand for commercial real estate. According to José Conde Caldas, president of Ademi, 24 projects are awaiting approval in the Docklands area, and hundreds of commercial suites are being built in the region. There have been other investments – illumination around the historic Quinta da Boa Vista in São Cristóvão was refurbished in 2010, thanks to the work of a commission comprising Ademi and 11 other local institutions. And the Secretariat for Conservation and Public Services, acting via the Rioluz public illumination company, inaugurated new scenographic lighting at the entrance to the Zoo in 2011.
It’s initiatives such as these that encourage the revitalization of real estate in Rio de Janeiro , contributing to the development of the state as a whole and to increasing the volume of business for companies like Jones Lang LaSalle that are active in the sector,” says Mônica Barg , director of JLL Leasing.
She emphasized that the modernization of São Cristóvão is one of the successful examples of investment in Rio. The neighborhood is now an attractive location for companies that plan operating in the state and are looking for properties of an exceptional standard without the costs of the Center, with good location and easy access to downtown and the main corridors that lead to other regions.