02/03/2024 – 16:46
The Brazilian Association of Real Estate Developers (Abrainc) considered positive the measures adopted this week by the National Monetary Council limiting the offer of tax-exempt receivables certificates and letters of credit by companies that are not in the real estate or agribusiness sectors.
“The measure is very important to strengthen sectoral funding, mainly for the middle-income residential development market, which depends on resources from the Brazilian Savings and Loan System (SBPE) to obtain financing”, stated the president of Abrainc, Luiz France, in note. In his opinion, the previous rule allowed many operations little related to construction to have the benefit of tax exemption.
The developer's representative also stated that the real estate bill market is worth around R$460 billion and that directing its use to the construction market is fundamental for generating employment and income, as financing is generally used for the construction of projects.
Among other measures adopted by the CMN, there was also a change in the minimum term of real estate credit letters (LCIs), which went from 90 days to 12 months, which, in Abrainc's assessment, is in line with the long-term nature of investments real estate.
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