Another brick in the wall: Campo de Marte changes raise uncertainty; New constructions expectations rise in June

研报英文原文证据摘录

Another brick in the wall: Campo de Marte changes raise uncertainty; New constructions expectations rise in June

Global Research

25 June 2026ab

LatAm Real Estate Equities

Latin AmericaAnother brick in the wall: Campo de Marte

changes raise uncertainty; New constructions Real Estate

expectations rise in June TainanAnalystCosta

tainan.costa@ubs.com

+55-11-2767 6091

Campo de Marte changes raise uncertainty over SP urban growth Ana Julia Zerkowski

Associate AnalystAccording to the news, changes to flight rules at Campo de Marte set by the aviation

ana-julia.zerkowski@ubs.com

authority could impact the growth plans for the city of SP under the SP Master Plan.

+55-11-2767 6303

High-rise developments located within 20km of Campo de Marte will need

authorization before being built. In practice, the SP government and the market

fear that investors and developers may start to view these areas as legally

uncertain. As a result, this could reverse the logic of the Master Plan, pushing the

market toward the East and South zones of the city, according to SP's Urban Planning

Secretariat. Coincidentally, this area also includes three territorial zones where the

municipality offers economic incentives for high-rise construction: OUC Água

Branca, PIU Arco Tietê, and PIU Setor Central. According to projections, the new

height restrictions could reduce the height of new buildings by up to 90 meters.

Also, this impact would affect 93% of OUC Água Branca, 91% of PIU Setor Central,

and 70% of Arco Tietê. Lastly, in a pessimistic scenario in which all real estate

production in the area is affected, the SP government estimates losses of R$6bn

through 2029 for the development fund funded by onerous grant revenues. - Here

New constructions expectations rise in June