Category: Real Estate

Jose AuriemoNeto carries on storied traditions at JHSF

Of all the real estate development companies in Brazil, one stands above the rest and its contributions and visionary projects. JHSF Participacaoes, originally founded in 1972 by Fabio Auriemo, has made a name for itself as Brazil’s premier real estate development firm. With hundreds of completed projects, including some of the most spectacular luxury high-rise developments in the country, the firm has been instrumental in bringing Brazil from the status of a lowly, third-world backwater to a highly sought-after residential real estate market.

Throughout the 80s, the company remained active in building some of the largest and most prominent luxury properties in the country. In the mid-80s, it was responsible for the construction of the Hotel Transmerica, one of the first five-star hotels constructed in Brazil. It was also responsible for the gigantic General Motors Proving Ground, a facility that brought thousands of jobs to the surrounding area and gave Brazil inroads into the global manufacturing sector, a source of major economic activity for the country.

But the company is perhaps best known for developing luxury shopping centers and malls. One of its flagship developments is the ParqueCidadeJardim complex. This was the pet project of the company’s CEO, JoseAuriemoNeto. The son of the founder, AuriemoNeto took over the business in the early 2000’s, marking a significant change of strategic vision. The ParqueCidadeJardim development came about as a result of AuriemoNeto spotting a vacant tract of land, adjacent to a major traffic artery in the center of Sao Paulo. He immediately recognized the property as being prime land for the development of a sprawling luxury condominium, office and shopping complex. Click here to know more.

The development was built over a period of three years. Today, ParqueCidadeJardim is the largest development of its kind in Brazil. With nine residential condominium towers, four Class A office towers and a 180-store luxury shopping mall, it is one of Sao Paulo’s go-to destinations for luxury shopping, dining and living.

In the coming years, AuriemoNeto plans on pursuing more of these state-of-the-art, mixed-use facilities. He sees Brazil as being able to compete with major luxury markets across the globe.

DEVCO and the Atlantic City Press

DEVCO is a real estate development company. The company also known as New Brunswick Development Corporation is a private nonprofit company for the urban for the city’s revitalization. This company was founded in the mid 1970’s. The company is great at making a solid public-private partnership. They are also very knowledgeable in strategic alliances and project financing. The company has administrated nearly $1.6 billion into investments in New Brunswick.

The Press of Atlantic noticed that questions began to come about when the company did not pay $20 million back in Casino Reinvestment Development Authority loans. The article states that the company’s attorney Chris Paladino says “CRDA will be paid, but it’s just going to take a couple more years.” The company has taken loans for businesses such as The Heldrich, a New Brunswick hotel and conference center. This 235 room building opened in 2007. CRDA has stated to date they still have not received a payment on the loan. In defense The Heldrich has a few economic impacts. Some of those affected are 235 unionized employees and even the people who visited the hotel.
DEVCO took a really bad block in a neighborhood and made it gorgeous. The outcome of the project is amazing. The company is working very hard to pay the loan back.