LatAm Real Estate Another brick in the wall: SP Court overturns Dec-2024 changes to Master Plan; SP mid-income segment offer remains weaker

Research evidence excerpt

LatAm Real Estate Another brick in the wall: SP Court overturns Dec-2024 changes to Master Plan; SP mid-income segment offer remains weaker

Global Research

22 June 2026ab

LatAm Real Estate Equities

Latin AmericaAnother brick in the wall: SP Court overturns

Dec-2024 changes to Master Plan; SP mid- Real Estate

income segment offer remains weaker TainanAnalystCosta

tainan.costa@ubs.com

+55-11-2767 6091

SP Court overturns Dec-2024 changes to the SP Master Plan Ana Julia Zerkowski

Associate AnalystAccording to the news, the SP Court declared unconstitutional most of the changes

ana-julia.zerkowski@ubs.com

made to the Master Plan in December 2024. Accordingly, part of the sections

+55-11-2767 6303

overturned by the second-instance decision allowed the "right of slab", which

permits the "sale" of airspace above infrastructure equipment to the private sector.

With the change, the real estate market could build private buildings above bus

terminals and train and subway stations, in addition to creating parking lots and

underground passages in basements. This type of project had drawn the attention of

the winning consortium of the PPP (Public-Private Partnership) for the government

new headquarters, as MEZ-RZK Novo Centro was studying the construction of

apartments for part of the families from properties expropriated for the

implementation of the administrative center above the future Luz terminal, in the

Center region of SP. However, the decision will impact only future deliberations

within the municipal scope, without retroactively affecting projects that may have

already been approved by City Hall. Additionally, the deliberation also overturned a

provision that encouraged developments with popular housing in urban operation