Brazil Property Developer Rossi Plans for North East Domination
São Paulo based real estate developer Rossi recently announced its 70 percent takeover of north-eastern company Norcon, one of the largest in the region.
The new company will be named Norcon Rossi and will hold an 80 percent stake in projects already launched with a goal of R$ 2.8 billion in sales values by 2013. Rossi will manage the financial and operational management and Norcon will take care of local land administration and labour.
According to Cassio Audi, financial and investor relations director, the partnership forms part of the Rossi group’s intention to diversify its activities in other regions whilst continuing to grow where it is already present.
