By Camilla Muniz – Valor Econômico

Rio de Janeiro is preparing to hold a roadshow with international investors shortly after the elections to advance partnerships in major infrastructure and urban development projects, Invest.Rio President Sidney Levy said during the Conecta Rio event. Levy said the figures involved are in the range of “several billions.”

Among the projects to be presented to the private sector is Praça Onze Maravilha, which foresees R$1.7 billion in investments in the area over 20 years. The initiative includes the demolition of the Elevado 31 de Março overpass and the construction of buildings, among other measures. Another project in the portfolio is Mata Maravilha, aimed at revitalizing the former Moinho Fluminense site with a green complex in Rio’s Port Zone, in partnership with asset manager Autonomy Capital and French businessman Alexandre Allard.

According to Levy, the plan is to visit several countries, as he explained at Conecta Rio, an event organized by the newspapers O Globo and Valor and radio station CBN, sponsored by the City of Rio de Janeiro, to discuss the city’s role as a strategic hub for energy and innovation. The event was moderated by O Globo columnist Rennan Setti, from the Capital column, at the Hilton Hotel in Rio, and by Valor’s sustainability editor Naiara Bertão at the CBN Studio in São Paulo.

In both projects, the municipality owns land that will be made available to companies through public-private partnerships for the implementation of a large-scale urban development plan over a ten-year period. The goal is to create integrated areas featuring retail, services, hotels, technology companies and leisure options.

“There is significant foreign interest in investing in both of these areas,” Levy noted. “Brazil is currently facing some issues that make these discussions more difficult, such as the elections and interest rates. Everyone is wary of interest rates this high. It creates challenges, but it does not derail the projects,” he added.

Another obstacle is the delay in the bill establishing the Special Tax Regime for Data Center Services (Redata), which remains stalled in Congress. The legislation proposes incentives for the construction or expansion of data centers in Brazil.

According to Levy, the law would need to be approved within six months for Brazil to take advantage of its short window of competitive advantage. This would help accelerate the Rio AI City project by attracting hyperscalers (major companies that operate massive networks of data centers).

Brookfield’s Head of Brazil, Roberto Perroni, also believes that approval of Redata is essential to expanding data centers in the country. The multinational company is closely monitoring opportunities in the sector, with a focus on supporting hyperscalers wherever these companies choose to establish operations.

“When we invest in a city, we pay close attention to whether contracts are honored. Legal certainty is essential,” he emphasized. “In addition, whenever we invest in any region, we always look at a ten-year horizon. This is particularly important for those looking to invest in Brazil, where there is significant volatility.”

Brookfield has a wide range of investments in Rio, including two data centers. In the real estate segment, the company owns 300,000 square meters of office space and is finalizing the acquisition of 300,000 square meters of logistics facilities.

In the multifamily residential segment (focused on rental properties), the company has 1,000 apartments either in operation or under development. Its portfolio also includes investments in railways, highways, car rentals and gas pipelines.

“In the data center market, renewable energy, connectivity, land and skilled labor are extremely important. Rio is a natural investment hub, as it is the country’s second-largest urban center and has a very strong business sector. I have no doubt that major players will expand their presence in the city,” Perroni said.

Marcelo Gattass, Vice-Rector for Development at PUC-Rio, highlighted that Rio has one of the country’s strongest foundations for knowledge creation and cultural development. However, brain drain remains a reality. Creating an environment where talent can find opportunities within the city itself is essential — and the development of data centers is one way to achieve this.

“The environment needs to change, and so does academia. We still lack a culture of integration with the productive ecosystem that develops from the bottom up, with researchers understanding that the work they do is, in some way, a contribution to the broader community,” Gattass said.