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Caucaia Economy Benefitting from Pecém Development

09-05-2011 08:04 AM CET | Industry, Real Estate & Construction

Press release from: MDMY Investment

The prefeitura of Caucaia in Ceará is already seeing significant benefits from the port expansion at Pecém.

Since the start of operations of the Port of Pecém in Sao Goncalo do Amarante, adjacent cities are experiencing a development cycle. As collateral, in the last three years, trade is one of the sectors benefitting most from this period of economic expansion. About 180 new stores moved into the center seat of Caucaia. Providing infrastructure support to the "booming business" is one of the challenges to public management.

In addition to the shops of the Center, the population will get another shopping option for the consumer's end. The first mall in the city is expected to open later this year. Located opposite the city's main square, the development will have 78 stores, including four anchors and four medium-sized, three movie theaters and food court.

Another initiative, according to the secretary, with the aim of leveraging the commerce of the municipality, is the Cidade do Atacado (Wholesale City). The R$200 development, built at the junction of highways 020 and 222, will have 16 sheds and should generate three thousand jobs.

In 2010, the Gross Domestic Product (GDP) of Caucaia was R$1.9 billion. The Secretary for Economic Development ensures that with the full operation of the Cidade do Atacado, the figure will double.

Kevin Wallace, Director of MDMY Investments, is optimistic about the potential for residential developments in Caucaia. "We currently have two projects in Caucaia. We are building 159 middle-income homes at our Altavila development. Altavila will be the only residential community of its kind in Caucaia. It is located directly adjacent to the Cidade do Atacado, and we are also receiving strong interest from people working in Pecém."

MDMY is also constructing homes in Caucaia under the Brazil government's Minha Casa Minha Vida social housing program. Wallace notes that the area has many years of growth ahead of it. "Economic growth in the area is driven by large government and private industry investments that are due to continue for several years into the future. The investment agenda in the area between Fortaleza and Pecém should be quite compelling to those interested in Brazil investment."

MDMY Investment is a Brazil-based and operated Investment Company specializing in the Real Estate Development, Construction, Tourism, Security, and Environmental sectors. We offer overseas investors secure, high-yielding investment opportunities in several of Brazil’s fastest-growing business environments.

MDMY Investment S/A
Sala 1106, 1200 Av. Dom Luis,
Aldeota, Fortaleza.
Ceará, 61.160-230

Scott Johnson
Investor Relations
scott@mdmy.com.br
www.mdmy.com.br

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