In the last few years, South America has turned into a hub for property investors and the Ascott Limited, the serviced residence unit wholly owned by CapitaLand, now joins the growing list of brands to make its foray into the region. Over the next five years, we can look forward to it expanding into Brazil, Argentina, Chile and Mexico.
Kicking off the growth on the continent, are two serviced residences in São Paulo, Brazil. Citadines VN Jardins São Paulo and Citadines VN Faria Lima São Paulo will be franchised and operated by Vitacon, the city’s leading Real Estate Company. The Jardins São Paulo, which will hold 92-units, is scheduled to open in the last quarter of 2017 while the Faria Lima São Paulo will open in 2020. This move to branch out into Brazil is one that is set to see greater returns in the near future. “…We see strong potential to scale up Ascott’s presence in Brazil given its status as the powerhouse of South America, accounting for close to half of the region’s foreign direct investments” said Lee Chee Koon, Ascott’s Chief Executive Officer.
Situated in the swanky neighbourhood of Jardins, the Citadines VN Jardins São Paulo is an ideal investment opportunity for those looking to be close to the city. With the financial and cultural institutions at Avenida Paulista as well as the luxurious shopping district of Rua Oscar Freire in close proximity, the property is what any urbanite would crave for. The 92 units which feature studios, lofts and penthouse units also provide shared travel amenities, coworking areas, cafés, storage spaces, lounges and a fully equipped gym.
The Citadines VN Faria Lima São Paulo, which is located at Brazil’s Wall Street, offers residents a chance to embrace the nightlife as well as a chance to visit popular attractions within the area. Made up of 122 studio units, the serviced residence units will also offer a range of shared amenities that will allow residents to live in comfort.