BTG Pactual speeds up real estate sales at Ilha Pura and revises timeline to 2026
BTG Pactual is accelerating the sale of residential units at Ilha Pura, the planned neighborhood in Barra da Tijuca, Rio de Janeiro.
Initially projected to be fully sold by 2029, the bank now expects to complete transactions by 2026, driven by strong demand and competitive pricing, according to O Globo.
The financial institution, which acquired Ilha Pura in 2023 in one of Brazil’s largest real estate deals, has already sold over R$ 700 million in apartments. Now, with the launch of Astra Smart Facilities, a four-tower development featuring 544 two-bedroom units, BTG aims to add another R$ 225 million to its sales figures.
A shift in pace and strategy
Originally built as the Olympic Village for the 2016 Rio Games, Ilha Pura's towers were ready but underutilized before BTG’s acquisition. At the time of purchase, only three out of seven condominium projects had been launched, leaving 2,500 unsold units in the bank’s portfolio.
Since taking over, BTG Pactual has successfully sold 684 units, with 80% of the available properties now off the market. “We have hosted over 9,000 visits from potential buyers. There is clear demand, as Ilha Pura’s pricing remains attractive compared to similar projects in the area,” said Ricardo Cardoso, a partner at BTG Pactual.
To further drive sales, BTG has introduced new financial products, broadening accessibility to buyers outside the traditional banking system. With four more projects set to launch in phases, the bank is confident that it will reach full occupancy much sooner than expected.
Last year, Crypto.com and BTG Pactual partnered to expand crypto services in Latin America. This deal enhanced access and boosts offerings.
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