IBOV 167,563.47 ▲ 1.23% IPC MEX 70,819.80 ▲ 0.91% MERVAL 2,848,945 — — USD/BRL5.46▲ 0.06% USD/MXN18.56▼ 0.31% USD/CLP965.60▼ 1.58% USD/COP3,222▼ 0.87% USD/PEN3.44▼ 0.05% USD/ARS1,547▼ 0.03% USD/UYU40.26▲ 3.34% USD/PYG6,031▲ 4.22% USD/BOB12.00▲ 2.42% USD/DOP59.81▼ 1.14% USD/CRC450.31▲ 2.42% USD/GTQ7.64▲ 3.14% USD/HNL26.88▼ 0.08% USD/NIO36.62▲ 0.07% USD/VES892.65▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▲ 2.60% USD/TTD6.66▲ 1.38% EUR/BRL6.14▼ 0.12% BRENT 109.58 ▼ 5.38% WTI 100.12 ▼ 1.61% IRON ORE 161.91 — — COPPER 6.65 ▲ 2.24% GOLD 4,073 ▲ 0.85% SILVER 54.49 ▲ 0.70% SOY 1,250 ▲ 0.70% CORN 450.25 ▼ 1.04% WHEAT 614.75 ▼ 0.20% COFFEE 294.35 ▼ 2.19% SUGAR 19.26 ▲ 0.84% ORANGE JUICE 143.20 ▲ 5.45% COTTON 77.90 ▼ 1.47% COCOA 5,581 ▲ 1.66% BEEF 230.73 ▲ 0.33% CATTLE 346.40 ▼ 1.00% LITHIUM 62.43 ▲ 1.89% PETR4 53.31 ▼ 1.06% VALE3 62.88 ▼ 2.33% ITUB4 41.42 ▼ 0.67% BBDC4 15.69 ▼ 1.63% ABEV3 15.40 ▲ 0.20% BBAS3 17.59 ▲ 0.69% B3SA3 15.27 ▲ 1.33% WEGE3 45.78 ▲ 2.81% PRIO3 69.21 ▼ 2.71% SUZB3 47.14 ▼ 0.55% RENT3 31.14 ▼ 1.67% AZZA3 16.72 ▲ 1.15% CSAN3 2.69 ▼ 2.89% RAIZ4 0.34 — 0.00% PCAR3 2.22 ▼ 3.48% GMAT3 3.74 ▲ 2.19% PSSA3 47.75 ▼ 0.89% CVCB3 0.98 — 0.00% POSI3 3.56 ▼ 0.84% SLCE3 16.97 ▼ 2.75% NATU3 5.68 ▼ 3.89% BRKM5 3.80 ▲ 19.50% RANI3 7.34 ▼ 0.54% CSNA3 4.76 ▼ 4.99% IBOV 167,563.47 ▲ 1.23% IPC MEX 70,819.80 ▲ 0.91% MERVAL 2,848,945 — — USD/BRL 5.34 ▼ 1.32% USD/MXN 18.69 ▲ 0.62% USD/CLP 983.47 ▼ 0.57% USD/COP 3,149 ▲ 3.06% USD/PEN 3.45 ▲ 0.17% USD/ARS 1,537 ▼ 0.28% USD/UYU 40.21 ▲ 3.57% USD/PYG 5,803 ▲ 3.78% USD/BOB 11.97 ▲ 4.93% USD/DOP 60.54 ▲ 1.83% USD/CRC 451.24 ▲ 2.13% USD/GTQ 7.64 ▲ 3.23% USD/HNL 26.87 ▲ 3.37% USD/NIO 36.62 ▲ 2.81% USD/VES 885.08 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 2.63% USD/TTD 6.71 ▲ 2.07% EUR/BRL 5.95 ▲ 7.53% BRENT 109.58 ▼ 5.38% WTI 100.12 ▼ 1.61% IRON ORE 161.91 — — COPPER 6.65 ▲ 2.24% GOLD 4,073 ▲ 0.85% SILVER 54.49 ▲ 0.70% SOY 1,250 ▲ 0.70% CORN 450.25 ▼ 1.04% WHEAT 614.75 ▼ 0.20% COFFEE 294.35 ▼ 2.19% SUGAR 19.26 ▲ 0.84% ORANGE JUICE 143.20 ▲ 5.45% COTTON 77.90 ▼ 1.47% COCOA 5,581 ▲ 1.66% BEEF 230.73 ▲ 0.33% CATTLE 346.40 ▼ 1.00% LITHIUM 62.43 ▲ 1.89% PETR4 53.31 ▼ 1.06% VALE3 62.88 ▼ 2.33% ITUB4 41.42 ▼ 0.67% BBDC4 15.69 ▼ 1.63% ABEV3 15.40 ▲ 0.20% BBAS3 17.59 ▲ 0.69% B3SA3 15.27 ▲ 1.33% WEGE3 45.78 ▲ 2.81% PRIO3 69.21 ▼ 2.71% SUZB3 47.14 ▼ 0.55% RENT3 31.14 ▼ 1.67% AZZA3 16.72 ▲ 1.15% CSAN3 2.69 ▼ 2.89% RAIZ4 0.34 — 0.00% PCAR3 2.22 ▼ 3.48% GMAT3 3.74 ▲ 2.19% PSSA3 47.75 ▼ 0.89% CVCB3 0.98 — 0.00% POSI3 3.56 ▼ 0.84% SLCE3 16.97 ▼ 2.75% NATU3 5.68 ▼ 3.89% BRKM5 3.80 ▲ 19.50% RANI3 7.34 ▼ 0.54% CSNA3 4.76 ▼ 4.99%
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Thursday, November 5, 2026

Life & Society Real Estate

São Paulo’s Hospital Matarazzo Reborn as Luxury Cultural Complex

By · September 12, 2024 · 3 min read

In the heart of São Paulo, a former hospital has undergone a remarkable metamorphosis.

The Cidade Matarazzo project, spearheaded by French entrepreneur Alex Allard, is redefining luxury and cultural spaces in Brazil’s largest city.

The complex, located near Avenida Paulista, is gradually opening its doors to the public. The latest addition, Casa Bradesco, will debut on September 15, 2024, with an exhibition by Indo-British artist Anish Kapoor.

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This new cultural space occupies two floors of the former Umberto I Hospital. The renovation process was a feat of engineering, preserving the original facade while excavating up to 20 meters deep.

Allard compares the project’s ambition to that of European cathedrals. He envisions Cidade Matarazzo as a “modern temple” that inspires visitors through its architecture and artistic interventions.

São Paulo's Hospital Matarazzo Reborn as Luxury Cultural Complex.
São Paulo’s Hospital Matarazzo Reborn as Luxury Cultural Complex.
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The complex already houses the Rosewood Hotel, restaurants, the Santa Luzia Chapel, and the Aya Building for offices. The Soho House, a global creative club, opened its first South American location here in June.

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Future phases will introduce more restaurants, boutiques, and wellness services. A boulevard connecting the complex to Avenida Paulista is also under construction.

The estimated cost of the entire project is R$3 billion ($531 million). Allard believes this investment will prove that historical buildings can be more valuable than new high-rises.

Casa Bradesco features a subterranean theater with an 18-meter ceiling and an 850 m² LED panel. The space will host various events, from concerts to ballet performances.

The renovation preserved intentional traces of the building’s history, including graffiti and worn surfaces. This blend of old and new creates a unique atmosphere.

São Paulo's Hospital Matarazzo Reborn as Luxury Cultural Complex.
São Paulo’s Hospital Matarazzo Reborn as Luxury Cultural Complex.

São Paulo’s Hospital Matarazzo Reborn as Luxury Cultural Complex

Originally part of the hospital’s Block E, Casa Bradesco dates back to 1918. It once housed an outpatient clinic and nuns’ residence.

The project aims to create a 24-hour hub offering diverse experiences. Admission to the Kapoor exhibition will cost R$80 ($14), with free entry on Tuesdays.

Cidade Matarazzo’s development began over a decade ago when Allard’s group purchased the property in 2011. The first space, the chapel, opened in 2021.

São Paulo's Hospital Matarazzo Reborn as Luxury Cultural Complex.
São Paulo’s Hospital Matarazzo Reborn as Luxury Cultural Complex.

This transformation represents a shift in São Paulo’s urban development. Instead of demolishing historical buildings, Cidade Matarazzo preserves and repurposes them for contemporary use.

As the project nears completion, it stands as a testament to innovative urban renewal. By blending luxury, culture, and history, Cidade Matarazzo is reshaping São Paulo’s cultural landscape.

 

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief

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