Fabiola Moura and Veronica Espinosa-Bloomberg, 09/16/09
Brazil may reach its target of building a million homes for low-income workers by 2011, when President Luiz Inacio Lula da Silva’s term ends, said the chief executive officer of homebuilder Construtora Tenda SA.
“The beauty of the government program is that for the first time it has set a goal,” Carlos Trostli said in an interview in New York. “It will be very difficult for someone to come and stop a program that’s generating jobs and increasing fiscal revenue.”
Lula announced a plan on March 24 to spend 34 billion reais ($18.8 billion) for low-income housing, a business that accounts for more than two-thirds of Tenda’s sales. Brazil will hold presidential elections in October 2010.