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Exclusive findings from SiiLA confirm that Eletrobras is entering São Paulo’s office market. The energy company has just leased two floors at Brookfield’s Parque da Cidade complex. The transaction was recorded in the Paineira tower, where Eletrobras will occupy approximately 4,5 thousand m² on the fifth and sixth floors.
According to SiiLA’s Market Analytics platform, the building has a market value of R$ 89.66 per sqm. Other tenants in the complex include developer Tegra, renewable energy firm Elera, Accenture, and Brookfield itself, the property owner.
This marks Eletrobras' first high-end office in São Paulo, as the company previously centralized its operations in Rio de Janeiro. In Rio, SiiLA tracks a total office footprint of 27,8 thousand m² for the company. When contacted by REsource, Eletrobras declined to comment before publication.
Chucri Zaidan is currently São Paulo’s largest office district, with a total stock exceeding 900 thousand m² across Class A+, A, and B buildings. According to SiiLA’s platform, the region ended 2024 with a vacancy rate of 21.28%, a significant 6-percentage-point drop from 27.72% at the end of 2023.
Parque da Cidade stands out as the largest corporate complex in the area, featuring six office towers, five of which are high-end properties.
Founded in 1962, Eletrobras is the largest electricity company in Latin America. The company was established by the federal government to centralize investments and expand Brazil’s electrical infrastructure.
For decades, it controlled a large share of the country’s power generation, transmission, and distribution, managing subsidiaries like Furnas, Chesf, Eletronorte, and Eletrosul. In the 1990s, during a wave of privatizations, some distribution assets were sold, but the holding company remained strategically important.
Facing financial struggles starting in 2012, Eletrobras was fully privatized in 2022 when the government reduced its stake, turning it into a private capital company. However, the Brazilian government retains a "golden share" to influence key strategic decisions.











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