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Revitalization of Rio de Janeiro’s Downtown is the Focus of Giancarlo Nicastro’s Panel at AMCHAM Event

  • The event took place in the auditorium of the Commercial Association of Rio de Janeiro and featured several panelists alongside Giancarlo Nicastro
Marcelo Haddad, director of Rio Negócios, Hilton Rejman, executive at Brookfield, Giancarlo Nicastro, CEO of SiiLA, and Mara Rabelo, director of Canopus.
Marcelo Haddad, director of Rio Negócios, Hilton Rejman, executive at Brookfield, Giancarlo Nicastro, CEO of SiiLA, and Mara Rabelo, director of Canopus.
By: SiiLA News
09/18/2024

This Tuesday, Giancarlo Nicastro, CEO of SiiLA, participated in an AMCHAM (American Chamber of Commerce) event in Rio de Janeiro. The theme of the meeting was "Innovations and Strategies in the Real Estate Sector and Revitalization of Downtown Rio de Janeiro." The event took place in the auditorium of the Commercial Association of Rio de Janeiro. 

Nicastro led the first panel, where he discussed the context of Rio de Janeiro’s real estate market and highlighted trends that could benefit the downtown area. 

The executive shared data indicating that the pace of new project deliveries has been stagnant since 2020 and that net absorption has been negative since 2023. 

Additionally, Nicastro pointed out that retrofitting could be one of the solutions to revitalize downtown Rio, citing São Paulo’s Avenida Paulista as a successful example. 

Another point discussed was the Reviver Centro II program, highlighting the trend of converting old office buildings into residential projects, such as multifamily developments.  

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Founded in 2015, SiiLA is the industry leading REsource for comprehensive commercial real estate market insights, news and events across Latin America. The SiiLA suite of innovative products drive greater accuracy, efficiency, and strategic advantages for top players in the commercial real estate industry.

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