The heiresses of the former owner of the Real bank, Aloysio Ocasionar, sold a large plot of land in the south zone of São Paulo to an investment fund where the Transamerica Hotel operated before it went bankrupt during the pandemic.

The plans are now ambitious: the location will house a new club with the first wave pool in the city. With a R$ 1.1 billion planned investments, the project forecasts R$ 2 billion worth of revenue per year.

Baptized "Beyond The Club São Paulo," the project is carried out by KSM, a company owned by Oscar Segall, one of the founders of the construction company Klabin Segall, sold in 2009. The entrepreneur turned the construction of artificial beaches in luxury condominiums into a big business — the first project was Praia da Grama in Itupeva, 70 kilometers from São Paulo.

"For more than 80 years, the club has been operating in São Paulo. And it had to happen in a well-located and high-consumption area," said Segall.

Want to learn more about the commercial real estate market? Follow SiiLA on social media and send us your suggestions to comunicacao@siila.com.br.