The City of São Paulo got the green light from the Municipal Court of Auditors (TCM) to carry out the Constructive Potential Certificates (Cepacs) auction in the Água Espraiada Urban Operation - region that encompasses stretches of Marginal Pinheiros, Berrini, Brooklin, Chucri Zaidan and Jabaquara. The value of R$ 2,175 per Cepac was defined, and the forecast is that a total of 160 thousand bonds will be issued, with a possibility of moving R$ 348 million. The news was long awaited by developers who want to build new projects in the region, the main growth axis of the São Paulo real estate market.
Cepacs are titles that allow construction companies to build buildings above the limits established by law in each neighbourhood. The resources collected by the public coffers go to infrastructure and mobility works in the region. In addition to construction companies, the auctions also attract investors, who can then sell the Cepacs on the secondary market, on the stock exchange.