José Auriemo Neto

Five years back, José Auriemo Neto entered the area of his dad, Fábio Auriemo, then president of the developer JHSF, with a novelty. He had seen that an area of 80,000 square meters over the border of this Marginal Pinheiros which, in his opinion, would be excellent for the building of a complex of high luxury. “I advised him to forget the subject, that Marginal Pinheiros wasn’t good for this kind of enterprise,” recalls Fabio. Zeco, as Auriemo Neto is known as his friends, did not give up. He persuaded his father to have a drive in the area. “He revealed that the entrance could function as a trunk, in a residential area. Just the mall and big commercial towers would be retrieved from the marginal. “Since then, this property was home to the biggest property complex in the nation. And Zeco Auriemo assumed the position of chief executive of JHSF, a company that earned 156 million reais in the first half of the year.

Called the Parque Cidade Jardim, the Marginal Pinheiros complex is comprised of a shopping mall with 180 stores, nine residential towers, four offices and one mixed-use – one part of this building will be destined to apartments and another to a hotel of the brand Fasano. Four residential towers, as well as the mall, are expected to be ready in May next year. By 2010, when the entire Garden City is delivered, JHSF hopes to earn about 1.78 billion reais in this venture. And of course the earnings from the mall, the resort, and offices which will be leased. “In the 1980s and 1990s, little premiered at the real estate market for its luxury segment,” says Luiz Paulo Pompéia, director of the Brazilian Business for Heritage Research (Embraesp). “There is a great demand for this type of venture.”

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