Conexão FII | Buildings | Fernando Didziakas

·26 min·2 clips

Will 2026 really be the year of the brick, and what does Fernando Didziakas reveal about Brazil's logistics warehouse boom?

The episode begins with hosts André and Vitor Pena introducing the new series Conexão FII and guest Fernando Didziakas, CEO of Builds. Didziakas explains that Builds is a research company monitoring office and logistics markets across 17 Brazilian cities, with data on nearly 3,000 office towers in São Paulo. He details the logistics warehouse sector's evolution, noting a cycle from 2012-2017 with high vacancy rates due to speculative construction. From 2017 onward, e-commerce growth, accelerated by the pandemic, drove vacancy down to 7% by 2025. Rental prices increased by nearly 50%, with the Brazilian average rising from R$20 to R$28-29 per square meter. Didziakas highlights location importance, showing Guarulhos as a premium area with rents up to R$50 per square meter due to proximity to São Paulo. He discusses typology changes, such as Last Mile warehouses for urban logistics, and regional variations within São Paulo's Rayo 30 zones. The Extrema region is analyzed, noting tax reform and labor shortages as challenges. Despite high interest rates, constructive activity remains strong, with a record 1.5 million square meters started in Q4 2025. Didziakas compares Brazil's logistics market to the US and Mexico, indicating significant growth potential, and projects the market could double from 40 to 80 million square meters in the next decade. The episode ends with a teaser for part two on corporate properties.

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