LATAM Notes from ULI Fall Meeting

++ Brazil – 22 developers listed – should have been only 3-4 – most of them will shake out –

++ Brazil + Mexico looks like on the top of all –

++ Argentina – looks like the weakest and politically unstable in the entire region – huge problems – international investors don’t like it –

++ Chile – stable, good market – fundemantals strong – investors like it a lot

B/c of crisis – consolidation is coming up – markets are shrinking –

++ Colombia can be the next story – 3rd biggest population – 44m

3rd highest fdi after Br, Mx

100% tax exemption for 30yrs for hotel investments-most of the CEOs of the big multinationals in the LATAM are from Colombia as they are independent – Brazil, Argentina, Mexico, Chile have huge competition in b/w