Rio de Janeiro's City Hall invests in a technological complex

The city of Rio de Janeiro will welcome a new real estate project next year, a technological complex with 10,000 sq meters in the port area.

The complex is a partnership between the private sector and the municipal government of Rio, scheduled for 2023.

With an investment of R$ 40 million and the construction should be ready in about six months, according to the secretary of Economic Development of the city hall, Francisco Bullhões.

The 10,000 sq meter complex will house the first free undergraduate course at the Institute of Pure and Applied Mathematics (IMPA).

According to the city hall, six companies, including Americanas, have already shown interest in joining the association of companies that will manage the project.

"The idea is that it will be a 'hub' of technology, in which university, market, and government are connected, stimulating development," said Francisco Bullhões, in an interview with Valor Econômico newspaper.

To bring more entrepreneurs to the complex, Rio City Hall reduced the Tax on Services (ISS) rate from 5% to 2% for companies that settle in the development.

According to Market Analytics data, Rio de Janeiro is the second largest region for corporate offices in Brazil, second only to São Paulo, with a vacancy rate of 36.07% for developments in classes A+, A, and B. On the other hand, the Porto region reached the end of the second quarter of 2022 with 31.75% of vacancy. Companies in the Financial and Insurance sectors predominate in the area.

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