Deal #753

Location #1

Spatial accuracy level
Administrative region
Location
Itapipoca, Ceara, Praia da Baleia

Target country
Brazil
Comment on location
Ceara, Praia da Baleia, a 200 km de Fortaleza Coordinates: -3.886177, -38.474121

Land area

Intended size (in ha)
3100
Comment on land area
According to the Juan Ripoll Group's website (http://www.grupojr-iae.com/), the tourist residential project Novo Atlantida (on the coast near Fortaleza) would be the bigger of the world, with 32 km 2, 7 golf camps, 30 luxurious hotels. According a article from ElEconomista.es, the inversion is more than 7000 millions of euros.

Intention of investment

Intention of the investment
Tourism
Comment on intention of investment
Hotels, Resorts, Golf

Negotiation status

Negotiation status
[2008] Intended (Under negotiation)
Comment on negotiation status
In 2008 the project would give start, but yet it is conflict with indigenous that live there.

Implementation status

Comment on implementation status
There is a litigation about this land and the touristic project between the Brasil Real Estate New Proyect Participaçones, which is the formal owner, and the indigenous Tremenbé and Tapeba peoples, who say to be the costumary owners. Two process have confronted: - the purchase of the land at the end of the seventies by a spanish group named Nova Atlantida; - the indigenous territorial claim and process of boundary demarcation opened by the new Constitution in 1988.

Operating company

Operating company
Name of investment project
Nova Atlantida
Comment on investment chain
In 2009, Afirma changed its name for Quabit Inmobiliaria SA (and its center from Valencia to Madrid), and sold its 55% of participation of the Brasil Real Estate New Proyect Participaçones company. The aim was to restructure its debt due to real estate crisis. Quabit kept the possibility to buy again its shares at the same price for two years ago, or to complete the sale. Juan Ripoll Mari is Spanish but its entreprise is brazilian. He would have purchased the land of the Novo Atlantida project in the seventies. In 2007, according to a article from ElEconomista.es, in 2007, Ripoll was accused to wash dirty money after an investigation by the brazilian COAF (organization for control of financial operations). According to the same article, facing this judicial problems, Afirma took the direction of the project and changed its name to Brasil Real Estate (in place of Nova Atlántida).

 

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Data source #1

Data source type
Research Paper / Policy Report
File
Date
2009-01-01
Comment on data source
Greenpeace, "Los nuevos conquistadores Multinacionales españolas en América Latina Impactos económicos, sociales y medioambientales", Octubre 2009

Data source #2

Data source type
Media report
File
Date
2008-01-01

Data source #3

Data source type
Company sources
File
Date
2010-01-01

Data source #4

Data source type
Media report
File

Data source #5

Data source type
Media report
File

Data source #6

Data source type
Media report
File

Data source #7

Data source type
Company sources
File

Data source #8

Data source type
Media report
File

Consultation of local community

Community consultation
Not consulted

How did the community react?

Community reaction
Rejection
Comment on community reaction
The project Nova Atlantida do not had a consultation to the indigenous community. This project wanted to install in the place and displace to community. As yet the indigenous community continue resisting and the project is stopped.

Former land owner (not by constitution)

Former land owner
Community

Former land use

Comment on former land use
Thomas Siron: See the petition written and signed by sociologists and anthropologists and directed to brazilian higher authorities : http://www.petitiononline.com/indios08/petition.html

Overall comment

Overall comment
Import of error check - Reviewer's overview comment: The issue is about the state of the project. Did ex-afirma (now Quabit) finalize the sale of its share in Brazil Real Estate? Has Juan Ripoll Group got all the capital or are there other share-holders? Will indigenous people make recognize their territorial rights or will the state support investors' interests?

Feb. 5, 2018, 10:01 p.m.

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Jan. 13, 2016, 10:23 p.m.

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Feb. 15, 2013, 5 p.m.

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