As I stated in a thread here a couple months ago, the land prices are just now starting to "boom" here in Aracaju. We've heard rumors for months now concerning large developments in the Aruana and Mosqueiro region in Aracaju....these are beachfront neighborhoods. Just this past Monday Norcon, the northeast's 5th largest construction company based in Aracaju, announced publicly in Cinform that they will be building a total of 22,000+ units in 5 different northeastern cities, 1,100 in Maceio, Alagoas, 5,200 in Salvador, Bahia, 8,000 in Maracanau, Ceara, 4,500 in Abreu and Lima, Pernambuco, and 4,848 in Aracaju, Sergipe. The developments in Aracaju are going to be located in Aruana and Mosqueiro and are very close to MJR Developments land where our Rose Garden Projects are located. Speculators from all over Brazil and from Europe have been frequenting Aracaju of late looking to get in on the "bottom floor" so to speak.
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