Readers who follow events occurring in Brazil, mainly those related to the Brazilian economy, are aware that the re-elected president, the ministers and the president of the Brazilian Central Bank are making efforts to take measures aiming at allowing the country to have a better growth rate and, at the same time, at avoiding recession.
In addition to that, the government also knows that such measures should not have a significant impact in social programs, since Brazil is a country which is still fighting poverty and has in the last decade been able to create a new middle-class by making the economy grow as a whole and by fostering social programs. As reported by IFN, Ritz Property and construction company G5 have created through a partnership a premium residential project - Majestic Village - in the city of Parnamirim, state of Rio Grande do Norte, which is neighbor to the state capital city Natal. This project would mean a Shariah compliant investment opportunity.
The news about this residential project is very encouraging. A first reason for that is the fact that, despite the economic scenario, entrepreneurs are still seeing good opportunities of doing business and are certainly expecting to attract investors.
Moreover, the Brazilian northeastern region, which encompasses other states in addition to the state of Rio Grande do Norte, has a tremendous touristic vocation and resorts and condominiums are very common in the region. Therefore, entrepreneurs may see in the region opportunities in this economic segment by using Shariah compliant funding.
On the 13th February 2015, Valor Econômico published a note, informing that Mubadala, Abu Dhabi's sovereign fund, has assumed corporate control of the Colombian mining company AUX. This fact demonstrates the presence of funds from the GCC countries in South America. AUX would be part of the EBX Group held by the Brazilian entrepreneur Eike Batista. Mubadala already has corporate participation in other EBX Group companies.
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