Jose Auriemo Neto – Implementing Unique Business Strategies to Help JHSF Development Go Global

Real Estate Development, Real Estate sector

JHSF Development is a leader in the commercial and residential development sector in Brazil and is a family run company that was established in the year 1972. JHSF Development maintains highest standards in its operations and is listed in Bovespa for maintaining highest corporate governance. The company has four primary business units, namely incorporation, shopping center, airport development and Fasano Hotel and Restaurants. JHSF Development is also known for developing high quality and luxurious residential apartments, which are elegant and tastefully designed and developed to meet the specific requirements of the high society buyers.

Brazil is one of the fastest developing countries in the world, and over the years, the country has witnessed massive infrastructure development in both residential commercial sectors. There are many real estate development firms in the country, but the contributions made by JHSF Development is worthy of mention. It is one of the most trusted names in the real estate development sphere of the country. The company understands the need of the new age buyers and develops its residential properties in accordance to the needs of the customers. JHSF Development leaves no stone unturned in satisfying the need of the customers.

Jose Auriemo Neto is the CEO of the company, and he has been able to make some strategic changes in the business machinery of the enterprise. It has helped in expanding the company’s operations across the country as well as overseas, including in Uruguay and the United States. At present, the company has many projects under development in Mexico City, Miami, and New York. Jose Auriemo Neto is trying hard to reach out to many other developing regions, where the real estate market is booming as he understands it would be of tremendous help in boosting the revenue of JHSF Development.

To achieve the long-term objectives of the company, Jose Auriemo Neto relocated to New York City along with his family. It is to oversee the project the company is developing in the Fifth Avenue in New York, which the company plans to give on rent once completed. It would help in adding substantial revenue to the company’s turnover.

The Heldrich; A project By Devco

Real Estate Development

The Middlesex County Improvement Authority is said to have missed a vital payment of $1million in principal and interest to Casino Reinvestment Development Authority as payment of a loan advanced to them totaling to $20million. This report is not an isolated event with the Middlesex county reported to be in arrears for the past five years with loan penalties totaling to 7million.

The loan was taken in 2005 in a bid to fund The Heldrich, a hotel and conference center for a nonprofit organization New Brunswick Development Corporation. Senate President Stephen Sweeney is on record addressing the issue. Stating that ‘the Heldrich can be viewed as a paragon of what can be done when public dollars are funneled through private firms’. This is as reported by Press of Atlantic City; http://www.pressofatlanticcity.com/news/breaking/unpaid-million-crda-loan-raises-questions-about-new-brunswick-devco/article_a03318e2-dcdb-11e5-a563-67611bc7b7bc.html

This remarks come in the wake of Atlantic City which is the sister project of Heldrich and takes the same model, with investments of over$200million expected to be taken from public and private financing. All in a bid to develop the city’s Chelsea section.

CRDA are set to recover from the loan, but this payment wil take much longer than expected because the Heldrich which first opened doors in 2007 is still struggling. The situation is so bad that the Hotel struggles to maintain its own capital expenses. The repayment process is further constrained by the fact that the loan documents indicate that the loan is to be paid from money generated from project revenues and after senior lien public bond holders are paid.

The CRDA Executive Director John Palmieri is on record addressing the issue sighting the loan repayment program as a bad business decision. This is because the projections of the money that were expected from the Heldrich upon its completion are yet to be met.