Tegra, Brookfield's real estate development business, has a 40-year history. Over the years, the company has constructed more than 97,000 real estate units, totaling over 24 million square meters and serving 80,000 clients. Currently, Tegra employs approximately 800 people across its operations, which are primarily concentrated in São Paulo, Campinas and Rio de Janeiro.
Tegra ended 2018 with total sales of approximately BRL 1.6 billion, in line with the preceding fiscal year. During the year, Tegra delivered all planned developments on time or ahead of schedule.
The São Paulo business launched nine developments in the cities of São Paulo and Campinas, with an Overall Sales Value (VGV) of about BRL 1.1 billion in 2018, while the Rio de Janeiro business launched three developments with a VGV of BRL 336 million.
The market has begun to show signs of recovery, which was reflected in strong sales from Tegra’s real estate launches in the last quarter of the year.
numbers / highlights
sqm of constructed area
in sales in 2018
launches expected for 2019
Tegra is well positioned to secure opportunities with the expected resumption of market growth in the areas in which it operates (São Paulo, Rio de Janeiro and Campinas).
With this in mind, in 2018 the company invested BRL 545 million in the acquisition of land with an overall sales value of about BRL 2.7 billion. Forecasts for 2019 are to launch 15 developments with a VGV of BRL 2 billion in the three urban hubs where the company has its operations.
In December 2018, Law 13,786, better known as the Law for Dissolution of Real Estate Acquisition Agreements, was published. The new law came into effect to regulate the issue directly and objectively, bringing greater legal certainty to disputes involving real estate purchase agreements. By 2019, this change should benefit the sector as a whole.
Constituted in 2018, Tegra’s urban development unit began operating under the Tamboré Urbanismo brand.
In November 2018, Tamboré Urbanismo launched Tamboré Prudente, in the city of Presidente Prudente (SP). With an overall sales value of BRL 37 million, the development occupies an area of 255 thousand square meters, one third of which is of green areas. The project sold 42% in the first month post-launch.
Currently, the development has over five million square meters in proprietary and contracted businesses to be developed over the next few years, concentrated mainly in the states of São Paulo, Rio de Janeiro and Minas Gerais.