A Brief History
Back in 2008, Ritz-G5 (then known as Ritz Property) purchased a substantial amount of prime beachfront land in desirable locations in Northeast Brazil. Its flagship project, Palm Springs, was launched and the capital raised from selling 25% of the development was used to commence work on the infrastructure.
In 2012, Ritz Property established offices in Singapore and launched Palm Springs in the Asian market. The capital raised from selling 50% of the development to the Singaporean market was used to continue the infrastructure works.
In 2013, Ritz Property acquired land to create three further prestigious developments – Majestic Village, Mercure Natal and Costa Azul. Later that year Majestic Village was launched to the Singaporean market, and the capital raised from Asian sales was utilised to commence the infrastructure works.
In January 2014, the infrastructure was successfully completed for Palm Springs. Shortly after, Ritz Property purchased the prestigious Piramide Natal hotel, and in March, the company also launched Costa Azul to the Singaporean and UK markets. In May 2014, Ritz launched Majestic Village and Palm Springs to the Brazilian market.
At the end of 2014, the award-winning developer Ritz Property and leading Brazilian construction company Construtora G5 merged to become the Ritz-G5 Group. The merger not only marked a distinctive point in the company’s history, but also in its future, with both parties working together for a successful future.
G5 brings over 30 years of experience in the construction industry and over the decades, the firm has grown to become the one of the largest and most respected construction companies in Natal, Brazil.
Multi-storey and condominium residences, hotels, schools, shopping centres, industrial and civil engineering are amongst some of the construction classifications of G5’s past experience. Amongst other projects, G5’s completed projects include the original construction of the Piramide Natal hotel, the Ponta Negra Tower residential apartments, the Petra residential building in Tirol (an upmarket area of Natal), and the Plenarium office tower in Lagoa Nova (business district of Natal).
Having already worked together with Ritz Property on a number of real estate projects (including Costa Azul, the new Piramide Natal hotel and Mercure Natal hotel), the newly created partnership was a natural step which benefits both parties, their clients, as well as the people of Northeast Brazil, creating a perfect partnership and ensuring the company’s vision for stylish, luxury living and commercial solutions continues to soar.