Direcional, a leading Brazilian homebuilder, has inked a significant deal with the São Paulo Metropolitan Housing Company, valued at R$270.8 million ($49.7 million). This agreement will deliver 1,309 residential units under the ‘Pode Entrar’ housing program, a initiative by São Paulo’s city government to make affordable housing more accessible.
Partnered with Tenda, Direcional’s share in this venture amounts to R$135.4 million ($24.8 million). Families earning up to six times the minimum wage can take advantage of this program, allowing them to finance homes over 30 years with affordable monthly payments.
Adding to their previous involvement, Direcional has now sold a total of 2,299 units to COHAB-SP, valued at R$341.4 million ($62.6 million). The ‘Pode Entrar’ program not only benefits homebuyers but also provides financial advantages and risk mitigation strategies for builders, making it a lucrative option in São Paulo’s housing market.
This program is not only a business opportunity for homebuilders but also plays a vital role in addressing São Paulo’s housing needs, contributing to urban development and social stability.
With initiatives like ‘Pode Entrar’ and Minha Casa, Minha Vida (MCMV) working hand in hand, homeownership is becoming more attainable for Brazilian families, fostering economic growth and social progress.
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