Tech Fortune Development Eyes Brazil

Tech Fortune Development looks towards Brazil's emerging social housing program "Minha Casa, Minha Vida" for new investment.

Wanchai (I-Newswire) March 4, 2013 - Tech Fortune Development a subsidiary of Tech Fortune Investment has announced plans to enter the Brazilian social housing market with its plans to develop affordable housing in line with the Brazilian Minha Casa, Minha Vida social housing program.

Tech Fortune Development announced that a total of four sites have been earmarked for development in the Northeast of Brazil and once developed will supply a number of affordable homes to Brazilian nationals.

"Minha Casa, Minha Vida" or "My House, My Life" as it is known in English is part of the Brazilian PAC program which aims to reduce the countries shortage of affordable homes by up to 40%.

PAC 2 an Extension of the original PAC program initiated in 2009 has an estimated budget of US$526 billion in public and private investment for the period of 2011 – 2014.

PAC is an investment program that focuses on travel infrastructure, social development and fulfilling the countries energy requirements and has been organized into six separate major initiatives which include: “My House, My Life” [Social housing], “Better Cities” [Urban development], “Bringing Citizenship to the Community [Safety and social inclusion] , “Water and Light for All” [Sanitation and electricity], “Energy” [domestic renewable energy] and “Transportation” [Highways, railways and airports].

PAC 2 has been put forward as a “Portfolio of projects that the next administration can build from rather than starting from scratch, as there is no time to loose” explained President Luiz Inácio Lula da Silva during the announcement of the program in 2009. The PAC program has been applauded by the global community.