Sky High Ambitions: Balneário Camboriú’s New Era of Urban Luxury

FG Empreendimentos, a leader in Brazil’s skyscraper industry, is transforming Santa Catarina’s Balneário Camboriú’s skyline with ‘The Tower’.

This 110-floor skyscraper will include shops, offices, residences, and the new company headquarters. That’s why the new building is already dubbed the “FG Tower.”

Additionally, the project includes four luxurious resorts designed to boost tourism in Balneário Camboriú and neighboring Itajaí at Praia Brava.

Once completed, ‘The Tower’ will be Brazil’s second tallest, shorter only than the 509-meter Triumph Tower by FG Empreendimentos.

This building will surpass the 435.3-meter Steinway Tower in New York, the tallest residential building globally. Residences in Triumph Tower will start at R$150 million ($26.55 million).

These residences will provide spacious 200 square meter private areas and comprehensive leisure facilities, compliant with local planning laws. The site will also host a three-story open mall with premium shops and restaurants.

Market trends in Balneário Camboriú show used residential properties priced from R$1.5 million ($265,486) to R$25 million ($4.42 million). However, FG has not yet revealed ‘The Tower’s’ per square meter price.

Opening in early 2025, the new resorts will blend luxury brands with hotel and residential spaces, boosting area appeal.

Jean Graciola, president of FG Empreendimentos, plans to add a top global brand, enhancing their luxury development portfolio for wealthy tourists. European exposure is bolstered by strategic endorsements.

For over forty years, FG Empreendimentos has led the high-end real estate market in the region, owning 80% of the beachfront properties in Balneário Camboriú.

In 2023, the company achieved a General Sales Value of R$1.28 billion ($226.55 million) with a 32% profit margin.

Sky High Ambitions: Balneário Camboriú’s New Era of Urban Luxury

Despite a modest population of 150,000, Balneário Camboriú has many of the nation’s tallest buildings, including Latin America’s soon-to-be tallest, Triumph Tower. This signifies a major shift in Brazil’s residential market dynamics.

Santa Catarina is emerging as Brazil’s answer to the French Riviera, luring in the wealthy and glamorous.

Balneário Camboriú now surpasses São Paulo and Rio in residential property prices, averaging R$13,259 per square meter ($2,345), well above the national average.

This increase is fueled by the city’s excellent infrastructure, strategic location, and limited available land, which boosts property values.

Industry experts predict the luxury market’s growth, coupled with a thriving tourist sector, will continue to drive up property values and spur urban development.

This transformation will cement Balneário Camboriú as a pinnacle of luxury and architectural innovation on Brazil’s coast.