Lend Lease in talks for future Brazilian development

Following in the footsteps of Australian companies such as the

Westfield Group and

Goodman Group,

Lend Lease is the latest Australian group to enter the ever-expanding realms of the Brazilian property market.

This news comes as Lend Lease recently appointed consultants in Sao Paulo to discover and assess opportunities for future development and construction.

It is believed that Lend Lease is expected to build upon their experience delivering the Sydney and London Olympic Villages to strengthen their involvement in the Rio Olympics planned for 2016.

Though it is yet to be confirmed by Lend Lease, Jones Lang LaSalle's regional director for Brazil, Manuel Puig, recently confirmed that he had met with Lend Lease executives and that the Brazilian firm had been providing research to the company.

"Lend Lease is interested in providing development and construction services," Mr. Puig said.

Mr. Puig also said Brazil offers a fantastic opportunity for growth, and has attracted attention from companies around the globe due to its strong economy and low unemployment rate of 5 percent.

“It is important for international groups coming to this market to form joint ventures with local players because they know their way around the market and the local rules and regulations," he said.