- Natal “treasures investments from partner companies” (Mayor of Natal, 2014)
- Award-winning Ritz Property and leading Brazilian constructor G5 partner, creating RitzG5
- JV projects include Mercure Natal hotel, Accor Pirâmide Hotel, Novotel hotel and new shopping malls
If the global credit crunch has taught us anything over the past few years it’s just how interconnected we are. Actions taken in one corner of the globe directly impact on the way of life elsewhere and whilst you might not be a personal fan of UK Prime Minister, David Cameron, he was right in saying “we’re all in this together”.
A snappy political sound bite indeed but its meaning is more solemn; the world has changed and collaboration between nations, between economies, between companies and peoples is the key to future success.
One city which is set on collaboration in 2015 is Natal in NE Brazil. Known as the City of the Sun due to its 300+ days of sunshine each year, Natal saw first-hand the positive effects of collaboration earlier this summer when it partnered with FIFA as a World Cup host city. Indeed the Mayor of Natal, Carlos Eduardo Nunes Alves, was in no doubt of the positive impacts of such collaboration stating that “foreign direct investment is extremely important to Natal and the city treasures investments from partner companies in Natal.”
FIFA however is not the only company to see the benefits of partnership in Natal. Award-winning developer Ritz Property, active in the area since 2008, has further strengthened their commitment to Brazil through partnership with leading regional construction company, G5.
Late 2014 saw the formation of a joint-venture between the two prestigious companies with the first real estate projects already underway. These include the creation of the Riviera residential condominium, renovation of the Pirâmide Hotel, the largest hotel of its class in NE Brazil and the construction of the 252 room Mercure Natal hotel occupying a prime location with direct sea views.
In addition, a number of joint venture commercial real estate projects are also planned (subject to licence approval) including a new shopping mall on Via Costeria (Coastal Way), one of the most important avenues in Natal and another located at the entrance to the city as well as new Novotel hotel in the nearby coastal town and capital of the state of Paraíba, João Pessoa.
The exciting new partnership was structured by André Elali, Master & Doctor of Laws, Professor at UFRN (Federal University of Rio Grande do Norte) and Founding Partner of André ElaliAdvogados in conjunction with a highly experienced team comprising Fernando Zilveti, Master & Doctor of Law and Professor at São Paulo University, José Henrique Azeredo, Head of the M&A Department and Specialist in Energy and International Operations and Felipe Monteiro, Master & Doctor of Laws and Professor at UFRN.
As one of the leading legal firms in Brazil, André ElaliAdvogados provides advice for over 5,000 clients including some of the largest financial, real estate and infrastructure companies in the country.
Chairman of the new group, known as Ritz-G5, is Mr Sami Elali, a well-respected and eminent businessman in the region with over 50 years of experience who is also seeking to set up three funds in Sao Paulo with the assistance of Antonio Kandir, previous Brazilian Minister of Finance and BRZ Investments, one of the largest asset managers in Brazil.
Commenting on the new partnership, Mr. Sami Elali, says:
“Over the last 30 years, G5 has grown to become the one of the largest and most respected hotel’s investor and construction companies in Natal, Brazil, and its vision for growth and success is as strong as ever. For any successful company, evolution is essential and in Ritz Property, we have seen our future. Having worked with Ritz on a number of real estate projects already and sharing an innate appreciation and understanding for Brazil, we believe the new Ritz-G5 partnership will not only prove of benefit to us but also our investors and importantly, the people of NE Brazil.”
In charge of the new legal structure of Ritz-G5, including the funds which will manage the new projects, André ElaliAdvogados has been working for some of the largest companies in Brazil in different sectors. It has been recognized as one of the leading firms in Brazil since 2007 and its partnership with ZilvetiAdvogados (São Paulo) allows the firm to provide legal and tax advice for several European and American corporations.