Obelisk International
Encyclopedia
Obelisk International is a private investment company
specialising in investments in Brazil
, with offices in Spain, Brazil and the UK. The company’s investments are property-based and include social housing within the Minha Casa Minha Vida programme. All investments are located in north east Brazil within the state of Rio Grande do Norte
, whose capital is Natal, Rio Grande do Norte
.
, in emerging markets around the world. In the late ’00s, business activity became focused on Brazil, one of the four BRIC
nations (Brazil, Russia, India and China) forecast by Goldman Sachs
to become the world’s largest economies.
In late 2009, Obelisk International joined the Brazilian government’s social housing programme, known as Minha Casa Minha Vida (My House, My Life), which aims to build 3 million residential properties in Brazil by the end of 2014. The first phase, completed at the end of 2010, had a budget of R$34 billion to build 1 million low-cost homes. The second phase, launched in March 2010, aims to build a further 2 million homes.
The programme will substantially reduce the housing deficit among low-income Brazilians, particularly among those earning up to three times the minimum wage (R$545).
Investment company
An investment company is a company whose main business is holding securities of other companies purely for investment purposes. The investment company invests money on behalf of its shareholders who in turn share in the profits and losses....
specialising in investments in Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, with offices in Spain, Brazil and the UK. The company’s investments are property-based and include social housing within the Minha Casa Minha Vida programme. All investments are located in north east Brazil within the state of Rio Grande do Norte
Rio Grande do Norte
Rio Grande do Norte is one of the states of Brazil, located in the northeastern region of the country, occupying the northeasternmost tip of the South American continent. Because of its geographic position, Rio Grande do Norte has a strategic importance. The capital and largest city is Natal...
, whose capital is Natal, Rio Grande do Norte
Natal, Rio Grande do Norte
-History:The northeastern tip of South America, Cabo São Roque, to the north of Natal and the closest point to Europe from Latin America, was first visited by European navigators in 1501, in the 1501–1502 Portuguese expedition led by Amerigo Vespucci, who named the spot after the saint of the day...
.
History
Obelisk International was founded in 2006 as a company dealing in investments, particularly in real estateReal estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
, in emerging markets around the world. In the late ’00s, business activity became focused on Brazil, one of the four BRIC
BRIC
In economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development...
nations (Brazil, Russia, India and China) forecast by Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
to become the world’s largest economies.
In late 2009, Obelisk International joined the Brazilian government’s social housing programme, known as Minha Casa Minha Vida (My House, My Life), which aims to build 3 million residential properties in Brazil by the end of 2014. The first phase, completed at the end of 2010, had a budget of R$34 billion to build 1 million low-cost homes. The second phase, launched in March 2010, aims to build a further 2 million homes.
The programme will substantially reduce the housing deficit among low-income Brazilians, particularly among those earning up to three times the minimum wage (R$545).