São Paulo’s East Zone will get a complex with the city’s largest theater and VIP movie theaters

Porte Engenharia, which is building a billion-dollar corporate axis in São Paulo’s East Zone, loves superlatives. After constructing the city’s largest building, Platina 2020, it is preparing to build a complex on a 17,000-square-meter site with 160,000 square meters of built-up area in the neighboring Belém neighborhood.

Radial III, scheduled for completion in 2027, will be the city’s largest theater, with 4,000 square meters and 1560 seats. It will be operated by the Opus Group, which owns the Vibra Concert Hall, Teatro Bradesco, and Frei Caneca.

The mixed project will also include 11 cinemas, including 4 VIP cinemas and a themed cinema, with an area of 6.7 thousand square meters, operated by the Cinépolis Group, which also operates a unit in the shopping JK Iguatemi.

In addition to a cinema and a theater, the project will also include a convention center with 15 halls and a capacity of 6,000 people, a hotel with 246 rooms, a five-story gastronomy tower, a hospital, stores, commercial spaces, and apartments.

The project is the sixth launch of the Platinum Axis designed by Forte. The new urban axis will include 11 construction projects, which together will have a built-up area of 390 thousand square meters.

Marco Melro, the founder of Porte, says that all investments come from the company’s cash flow and investment partners. These are mostly family offices.

The developer said it did not take advantage of any tax incentives to invest in the area, only the benefits of the city’s current master plan, which offers greater building potential to businesses that are located along public transportation routes and have ground-floor stores.

According to Melro, Porte’s founder, the project’s main goal is to stop the economic, family and professional exodus from the area.

“By creating an office center, we’re keeping the families with the most purchasing power, their children, and also skilled professionals who are leaving the region because of the distance to other business centers in the city.”

With information from Exame