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City Councilors Authorize São Paulo City Hall to Sell Anhembi Complex
05/03/2018 - 12h42
FROM SÃO PAULO
On Wednesday, May 2, the city councilors of São Paulo voted and passed a bill that authorizes the privatization of the Anhembi complex, in the city's north zone. As the authorization occurred in the second voting, the São Paulo City Hall already counts on the city council's final approval to privatize the site.
On Wednesday the city councilors authorized the project that establishes the parameters for urban intervention in the region, allowing the constructive potential of the complex to surpass the current one million square meters to 1.7 square meters, more than four times the property's total area.
This change allows the increase of built-up area in the property, which would be more attractive to potential companies interested in investing in it. The potential increase will only be granted if Anhembi keeps its functions as a convention and exhibition center for 20 years.
Those who defend the proposal, such as the president of city council, Bruno Covas, and City Councilor Milton Leite (DEM), say that the increase in constructive potential will add value to the place so that the City Hall can obtain better proposals when it sells the complex. Critics of the project, however, believe the it is excessively submissive to the interests of the market.
The measure is part of the packages of privatizations of former mayor João Doria (PSDB).
Translated by THOMAS MUELLO