News

RODOBENS acquires land for MORADAS housing project in São José Rio Preto/SP


São José do Rio Preto, July 20, 2010: Rodobens Negócios Imobiliários S.A. ("Rodobens", Bovespa: RDNI3), confirming the company‘s strategy of replacing the used landbank for launches, announces the acquisition of two important land properties in São José do Rio Preto/SP with the following features:

Ø Land property in urban area, with 698,477.89 square meters for the equivalent value of 4.65% potential PSV, in cash payment of 13 monthly installments. The estimated construction potential is of 2,500 units representing PSV of R$180MM;

Ø Total land property of 1,756,381.00 square meters (Rodobens‘ share of 1,124,083.84 square meters) to be 100% paid through future exchange of urban lots, equivalent to 4.32% potential PSV. The estimated total construction potential is of 3,680 units representing PSV of R$278MM, plus 1,480 lots regarding to the exchange payment.

Both areas are destinated to Rodobens product Moradas, focused on the economic segment, fully eligible to MCMV government housing program.

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