Table of Contents
Executive Summary — 5 Key Features Of This
Report — 7 SWOT Analysis — 8 Brazil
Real Estate/Construction SWOT — 8 Brazil Economic
SWOT — 9 Brazil Business Environment
SWOT — 10 Real Estate Market
Overview — 11 Key Projects — 13
Construction Overview — 13 New And Ongoing
Projects — 14 Residential
Construction — 14 Commercial
Construction — 15 Industrial
Construction — 15 Major Projects — 16
Table: Brazil Major Infrastructure Projects –
Construction — 16 Real Estate Investment Trusts In
Q309 — 17 Table: FTSE EPRA/NREIT Global Real Estate Index,
Total Returns (US dollar terms) — 18 Table: US REITs,
Total Returns (US dollar terms) — 19
Pointers — 23 Industry Finance
Outlook — 24 International
Financing — 24 Table: Client Loans, 2007-2013 (% change
y-o-y) — 24 Table: Loan-Deposit Ratio,
2007-2013 — 26 Domestic Financing — 27
Table: Key Banking Levels (BRLbn) — 28 Monetary
Policy — 28 Table: Brazil – Exchange Rate
Policy — 30 Industry Forecast
Scenario — 31 Table: Housing Prices At A Glance –
Latin America — 31 Table: Office Rents - Latin America -
CBRE — 32 Construction — 33 Table:
Brazil’s Economic and Construction Data — 33
Macroeconomic Outlook — 34 Table: Brazil – Economic
Activity — 36 Real Estate/Construction Business
Environment Rating — 37 Table: Latin America Business
Environment Ratings — 37 Brazil’s
RECBER — 38 Project Finance Ratings: Outlook for the
Americas — 39 Table: Design And Construction
Rating — 42 Table: Commissioning and Operating
Rating — 43 Table: Overall Project Finance
Rating — 45 Brazil’s Business
Environment — 46 Table: BMI Business And Operational Risk
Ratings — 47 Table: BMI Legal Framework
Ratings — 49 Table: Latin America Power
Consumption — 51 Table: Demographic Indicators
(2005) — 53 Table: Latin America Annual FDI
Inflows — 54 Table: BMI Trade
Ratings — 55 Table: Top Export
Destinations — 56 Company Monitor — 58
Grupo Camargo Corrêa — 58 Construtora Norberto
Odebrecht — 61 OAS — 63 Construtora
Beter — 64 Construtora Tenda — 65
Even — 66 Eztec Empreendimientos e Participacoes
SA — 67 BMI Forecast Modelling — 68
How We Generate Our Industry Forecasts — 68 Construction
Industry — 68 Bank Lending — 69 Real
Estate/Construction Business Environment Rating — 69
Table: Weighting Of Indicators — 70 Project Finance
Ratings Indicators — 73 Table: Design And Construction
Phase — 73 Table: Commissioning And Operating Phase
– Commercial Construction — 74 Table: Commissioning
And Operating Phase – Energy And Utilities — 75
Table: Commissioning And Operating Phase –
Transport — 76 Sources — 77
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