"We see Brazil as maybe the next Mexico," Joseph Parsons, president of North American equity at GE Real Estate said at the Reuters Real Estate Summit in New York. "The country is stabilizing; the government is proactive and business-oriented; it has enormous natural resources; it has a growing middle class; it has a lot of positive dynamics."
Parsons said GE is starting to recruit its Brazilian real estate team, but declined to provide details on the company'sgoals in that country.
Brazil's economy has been on a strong growth path of late, with a government-linked think tank forecasting 4.3 percent gross domestic product growth this year and foreign investment on the rise.
In Mexico, where GE Real Estate has operated for 10 years, the company plans to invest about $400 million inspace over the next three months, Parsons said.
Reuters reports on GE Real Estate's interest in Mexican and Brazilian real estate.