Affordable Housing Developments in Brazil with MDMY InvestmentBy Mdmy Investment, PRNE
Sunday, January 24, 2010
FORTALEZA, Brazil, January 25 - Home ownership becomes a reality for thousands of residences in Ceara
North East Brazil through the Federal Government Program "Minha Casa, Minha
Vida". The affordable housing program established in May 2009 is also
attracting the attention of foreign investors wishing to contribute to the
ever-growing Brazilian economy.
There is a deficit of 420,000 homes in the state of Ceara alone, where
the Minha Casa, Minha Vida program is only beginning to deliver units.
In the Municipality of Caucaia, which is a rapidly developing area with
new Industrial Investments from Petrobras and Vale, the opportunity to
provide Affordable Homes has been taken up by an English-Brazilian company,
Jamie MacDonald-Murray, the Director of MDMY Investment, comments, "The
deficit of these homes in Caucaia is very large, but national developers are
ignoring it; they're only looking to make large scale developments in
Fortaleza. So this offers a great opportunity to provide Affordable Homes
developed with Social Awareness in the heart of the Caucaia community. We're
delivering micro-communities within the existing residential areas that are
quick to develop and therefore reduce the huge deficit in the Municipality.
We are delivering homes to people who need them."
The developments of MDMY Investment have met with praise from the
Municipalities Prefeitura and caught the attention of foreign investors that
are getting high returns within short time frames.
Currently, mortgages in Brazil account for just 2% of GDP, but new rules
brought in last year are enabling working class people to buy homes on low
interest rates through the Government bank, Caixa Economica. The Minha Casa,
Minha Vida program subsidizes the purchase by up to R$23,000 with the
remaining value mortgaged at rates of 5% to 8%.
Jamie MacDonald-Murray continues, "Our goal is to develop 1200 homes that
integrate and enhance local communities over the next 5 years in Caucaia."
For further information, please visit www.mdmy.com.br or call
+55-85-9157-9266 or +44-(0)20-8133-4661
Jamie MacDonald-Murray, MDMY Investment, +55-85-9157-9266, +44-0-20-8133-4661
Tags: Brazil, Fortaleza, Mdmy Investment, United Kingdom