Tech Fortune Development enters Brazil

Tech Fortune Development [a subsidiary operating company of Tech Fortune Investments of Hong Kong] has announced that they will be looking to develop social housing in the Northeast of Brazil in line with the Brazilian governments "Minha Casa, Minha Vida" social housing program.

"Minha Casa, Minha Vida" or "My House, My Life" in English is part of the Brazilian regeneration PAC program. The social housing program plans to reduce the shortage of suitable Brazilian properties for its citizens by up to 40% with the development of affordable housing in built up areas.

Tech Fortune Investment incorporated in 2008 had previously focused within the domestic Chinese property market through its development operating company Tech Fortune Development. Tech Fortune Development stated that "Due to renewed trade agreements between the two countries and the increased relationship between China and Brazil we have decided to expand our operations into Brazil with a focus on the development of social housing". In recent times Brazil has seen a surge of investment into the country with a number of developers announcing their expansion into Brazil.