WTorre’s positive outlook aligns with data from SiiLA’s Market Analytics. The national vacancy rate for high-standard industrial properties (A+ and A) hit a historic low of 8.41% at the end of Q3. In São Paulo, Brazil's largest logistics market, the vacancy rate reached 8.32% within a stock of over 12 million m², which continues to grow annually. 

"Guarulhos, in the metropolitan region, is expected to receive a significant volume of new square meters. We know some pre-leases are already underway or finalized, showing how the market is responding. E-commerce has been a major driver, occupying a significant portion of vacant spaces, but it’s not the only sector responsible. We expect this demand to continue in 2025," Oliveira explains. He adds, “However, 2025 won’t be an easy year. Stricter criteria will be necessary for developing new projects as profit margins narrow further.” 

Despite growth opportunities in 2025, Oliveira believes the market will only gain favorable momentum in 2026. 

“We face a critical challenge: the expectation of Selic rate reductions will only materialize by mid-2026. Until then, this scenario will significantly impact the sector. Therefore, 2025 will be a challenging year that demands caution and planning to navigate the difficulties,” he states. 

The same factors driving industrial property growth—consumption levels and demand—also keep the Selic rate high, creating a dynamic Oliveira describes as "antagonistic." 

"As long as consumption remains steady at 2024 levels, we believe the market will stay strong. However, this somewhat contradicts itself, as it adds pressure on the Central Bank to keep the Selic rate elevated to prevent inflation from exceeding government targets," he concludes.  

Despite macroeconomic difficulties, WTorre views 2025 as a strategic year. The company plans to expand its industrial property portfolio, targeting 300,000 m² of annual development—a yearly investment of nearly R$1 billion. 

“Our strategy is to have logistics facilities in key markets across the country, from Porto Alegre to Manaus, covering capitals in the Northeast and Midwest. For Minas Gerais, our research identified Betim as the most promising location. We are currently conducting due diligence to acquire the land,” Oliveira shares.  

REsource: Abiner, WTorre is always on the move. Can you share some details about the major project in Minas Gerais? 

Abiner Oliveira: Absolutely! This has been covered recently in a local newspaper in Minas and another national outlet. Our strategy is to have logistics facilities in major markets nationwide, from Porto Alegre to Manaus, including capitals in the Northeast and Midwest. In Minas Gerais, our research highlighted Betim as the most promising location. 

REsource: Has the project started? 

Abiner Oliveira: We are in the final stages of due diligence to acquire the land. The plan is to build approximately 100,000 m² of constructed area, divided into two or three phases, representing an investment of R$320 million to R$350 million. However, as the land has not yet been officially purchased, there is nothing concrete to announce at the moment. 

REsource: You mentioned WTorre’s focus on major urban centers across Brazil. Could you explain this strategy? 

Abiner Oliveira: This strategy stems from the lack of supply in regions outside the Rio-São Paulo axis. The idea is to decentralize development and have ready-to-go facilities to meet specific and complex demands, especially in markets with very low vacancy rates. To achieve this, we seek strategic land and local partnerships to enable our projects. 

REsource: How does the company approach land selection and acquisition? 

Abiner Oliveira: The biggest challenge is finding land that meets technical criteria, such as suitable topography, lack of soft soil or springs, and market-compatible costs. For every approved plot, we analyze around 50. We aim to select the best land while relying on local owners as our “eyes” in the region. 

REsource: You recently closed a project in Goiânia, correct? 

Abiner Oliveira: That’s right! It’s a project in Hidrolândia, a neighboring area of Goiânia. It will feature 87,000 m² of industrial space divided into two units. We are in the final stages of due diligence and approval, and we expect part of the project to be pre-leased by launch. 

REsource: How does WTorre’s pipeline look for the coming years? 

Abiner Oliveira: Currently, we have a robust pipeline of 4.7 million m², though not all will be executed. Our goal is to build about 300,000 m² annually, representing nearly R$1 billion in annual investments. By diversifying our presence across Brazil, we aim to meet critical demand and create opportunities beyond the most obvious markets.