Brazil’s wealthiest man Eike Batista to extend the scope of his REX real estate company to initial focus in the state of Rio de Janeiro

Comments Off | 10-28-2010

Brazil’s wealthiest man Eike Batista is reported to be mulling plans to increase the scope of his firm, REX.  The billionaire is planning to extend the capacity of REX real estate, part of the EBX group. The expansion is to focus primarily in the Rio de Janeiro state at first. The firm was established back in 2008 and was meant to seek prospects across Brazil for investments.

Currently, it posses’ more than 22 million square meters of land in the Rio de Janeiro, Ceara and Santa Catarina states. REX is expected to commence business within three areas of operations namely real estate construction, incorporation, urbanization programs and income generational property related projects.

However, the fresh start up has business plans that primarily aim at markets within which EBX has existing projects or within which EBX is developing projects currently. REX chief executive officer Marco Adnet said the firm’s sole objective as it commences operations will be to stick to concepts that showcase quality and efficiency.

In that regard, the firm has already planned the commissioning of some projects soon, with one project to be located in the area around the EBX groups’ industrial port complex in Açu, São João da Barra (in the north of Rio de Janeiro state) – which will see the creation of a large scale sustainable housing complex that is estimated to be able to serve up to 250,000 people.

Other than that, the group has as well approached the executive director of one of Brazil’s leading developers – Rossi Residential – to assist, of which the outcome of talks is yet to be confirmed.

Eike Fuhrken Batista, more commonly known as Eike Batista or simply Eike is a Brazilian billionaire entrepreneur with a host of business in different sectors. He has founded companies in different business sectors but mainly in mining. He is the son of Eliezer Batista da Silva, a longtime head of mining company Vale. As of 2010, he was ranked the eighth richest person in the world.

Recently referred to by Money Week as a ‘class A Brazilian eccentric’ Eike Batista possesses the highest net worth in Brazil and has founded several companies, mainly related to mining.  His father, Eliezer Batista da Silva, is director of Brazil’s prominent mining company Vale.

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Posted in FDI Brazil statistics, General, Real Estate Brazil |

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