Political nexus of the real estate-financial complex: The State and business associations

• Grant number: 25/06741-0
• Support Opportunities: Scholarships abroad - Research Internship - Doctorate
• Start date: September 01, 2025
• End date: February 28, 2026
• Field of knowledge: Applied Social Sciences - Architecture and Town Planning
• Principal Investigator: Maria Beatriz Cruz Rufino
• Grantee: Vinicius Kuboyama Nakama
• Supervisor: Felix Adisson
• Host Institution: Faculdade de Arquitetura e Urbanismo (FAU). Universidade de São Paulo (USP). São Paulo , SP, Brazil
• Institution abroad: Laboratoire Techniques, Territoires Et Sociétés, France
• Associated to the scholarship: 22/15763-9 - The formation of the real estate-financial complex in São Paulo: articulations, permanencies and ruptures in the production of space, BP.DR

Abstract

This research project presents the work plan to be carried out during the Research Internship Abroad at the Laboratoire Techniques, Territoires et Sociétés (LATTS), under the supervision of Prof. Dr. Félix Adisson. The main objective is to advance the analysis of the political action of real estate agents - in their growing articulation with the financial sector - and their influence over the State in the formulation of urban policies, institutional frameworks, and financing mechanisms for the sector. Previous studies on the financialization of the production of urban space in Brazil highlight structural transformations within the real estate sector, driven by processes such as the public listing of major developers and the growing intensity of mergers and acquisitions. These processes have not only fostered the regional and productive expansion of these companies, but also reinforced their economic standing and enhanced their political influence. The research seeks to examine the political organization of these actors - through business associations, lobbying strategies, etc. - and the ways in which they exert influence over the State. The focus is on the institutional arrangements that have enabled the sector's productive (and increasingly rent-oriented) restructuring. Ultimately, the project aims to contribute to the critical debate on the role of the State in the financialization of urban space production, highlighting the articulation between public institutions and private actors that shape the real estate-financial complex.