Lengthy negotiations between the Paraba State Government and the MPF, Ministrio Pblico Federal, has resulted in agreement between the parties and permission for the construction of a major conference centre to be located in Cabo Branco, Joo Pessoa’s number one residential district and an ideal investment location.

The building has an estimated budget of $50 million and initial works are due to start in September according to Infrastructure Secretary, Francisco Sarmento. The Government of Paraba fulfilled all of the terms established in an Agreement with MPF at the beginning of August 2009.

The conference centre sits within a large masterplanned area with proposals for at least six large resort hotel schemes. Investors have watched with interest as legal arguments have raged over the land for over 20 years.

But with agreement now reached between State and Federal authorities regarding the protection and re-planting of native vegetation, the safeguarding of the beaches and investment into regularizing the water supplies for the area, planning permissions will soon be approved and development commenced.

Sarmento says that such building will be a landmark in tourism history in state. With this center, we will be able to regularize out touristic network, getting better results in our economy even on low-season months, as we will be able to perform various events. He says that this approval will contribute to a massive increase in real estate prices in the region. We can expect various kinds of investments, with the building of hotels and resorts.

The state of Paraba contains one of Brazil’s hidden gems. Joo Pessoa is a great investment alternative to Brazils high density, high-rise developments in larger cities. Joo Pessoa is the gateway to Europe and home to the eastern-most point of the Americas, Ponta do Seixas.

Joo Pessoa is renowned as Brazils safest city with great restaurants, lively bars and extensive shopping areas. It is also officially the world’s second-greenest city, full of squares, gardens and areas of preserved natural forest.

Joao Pessoa has a lively cultural calendar and seems to play host to some high-profile event or other just about every weekend. From street races music festivals to art exhibitions and literary gatherings, there is always something special to see or do.

Joo Pessoa, and the state of Paraba in general, is experiencing rapid growth and expansion. The domestic housing market is booming thanks to economic expansion and migration from the south, and international interest is hotting up. For investors, the area already offers excellent year-round rental prospects due to its 12-month season, and excellent resale opportunities thanks to the growing stream of international and domestic buyers. New hotels and resorts and the construction of a major conference centre will only increase Joao Pessoas investment potential.