[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fWJDsHAQ6CLoVvTVD9A3h5b3OQINtZN4Lgf5KRFFTPPo":3,"$fTe5HE0Z1vo2J86ZJWWdF8KMsEsay4hhvzos2gbGNccM":40,"$f_iPoKLJTmna0hysc3JyPQYvKVRe6ciD7LTGcnXYUH3Q":941,"$fq7UFHG839giCNSjxPOtnHhdD18YOr5o84WK-XN-3tLo":1446,"$fp68hrMLSAJv7mcNXQMg9VWYpfosTWfsdtoH90OP7mmg":1541},[4,24],{"id":5,"title":6,"color":7,"videoPlaylistUrl":8,"translations":9},3,"Infrastructure","#6DAAB4",null,[10,14,19],{"title":6,"slug":11,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"language":12},"infrastructure",{"code":13},"en",{"title":15,"slug":16,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"language":17},"Infraestrutura","infraestrutura",{"code":18},"pt-BR",{"title":20,"slug":21,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"language":22},"Infraestructura","infraestructura",{"code":23},"es",{"id":25,"title":26,"color":27,"videoPlaylistUrl":8,"translations":28},2,"Real Estate","#752964",[29,32,36],{"title":26,"slug":30,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"language":31},"real-estate",{"code":13},{"title":33,"slug":34,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"language":35},"Mercado Inmobiliario","mercado-inmobiliario",{"code":23},{"title":37,"slug":38,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"language":39},"Mercado Imobiliário","mercado-imobiliario",{"code":18},[41,44,48,52,56,60,64,68,72,76,80,84,88,92,96,100,104,108,112,116,119,123,127,131,135,139,143,147,151,155,158,162,166,169,173,176,180,184,188,192,196,200,203,207,211,215,219,222,225,228,231,235,239,243,247,251,255,259,263,266,270,274,278,282,285,289,292,295,298,302,306,310,314,318,321,325,328,332,335,337,340,344,347,350,354,357,361,365,369,373,377,380,384,388,392,396,400,404,407,409,413,417,420,424,428,431,435,439,443,446,450,453,457,460,464,467,471,474,477,481,485,488,491,495,499,503,506,510,513,517,521,525,529,533,536,540,544,547,551,553,556,560,562,565,568,572,576,580,584,588,591,595,598,602,605,609,612,616,619,623,626,630,633,636,640,643,646,649,653,656,659,662,666,670,674,677,680,683,687,691,694,698,700,703,706,710,713,717,721,725,728,732,735,738,741,745,748,752,755,758,762,765,767,771,775,779,783,786,789,792,795,798,800,803,807,811,813,817,820,822,826,830,834,838,841,845,848,851,854,858,861,864,868,871,874,877,881,884,886,889,891,895,899,903,906,909,913,916,918,921,925,927,931,935,937],{"id":5,"name":42,"phoneCode":43},"Afghanistan",93,{"id":45,"name":46,"phoneCode":47},189,"Åland Islands",1,{"id":49,"name":50,"phoneCode":51},4,"Albania",355,{"id":53,"name":54,"phoneCode":55},44,"Algeria",213,{"id":57,"name":58,"phoneCode":59},187,"American Samoa",1684,{"id":61,"name":62,"phoneCode":63},182,"Andorra",376,{"id":65,"name":66,"phoneCode":67},6,"Angola",244,{"id":69,"name":70,"phoneCode":71},184,"Anguilla",1264,{"id":73,"name":74,"phoneCode":75},186,"Antartica",672,{"id":77,"name":78,"phoneCode":79},183,"Antigua and Barbuda",1268,{"id":81,"name":82,"phoneCode":83},7,"Argentina",54,{"id":85,"name":86,"phoneCode":87},5,"Armenia",374,{"id":89,"name":90,"phoneCode":91},188,"Aruba",297,{"id":93,"name":94,"phoneCode":95},9,"Australia",61,{"id":97,"name":98,"phoneCode":99},8,"Austria",43,{"id":101,"name":102,"phoneCode":103},10,"Azerbaijan",994,{"id":105,"name":106,"phoneCode":107},21,"Bahamas",1242,{"id":109,"name":110,"phoneCode":111},191,"Bahrain",973,{"id":113,"name":114,"phoneCode":115},204,"Bailiwick of Guernsey",0,{"id":117,"name":118,"phoneCode":115},212,"Bailiwick of Jersey",{"id":120,"name":121,"phoneCode":122},12,"Bangladesh",880,{"id":124,"name":125,"phoneCode":126},190,"Barbados",1246,{"id":128,"name":129,"phoneCode":130},13,"Belgium",32,{"id":132,"name":133,"phoneCode":134},25,"Belize",501,{"id":136,"name":137,"phoneCode":138},17,"Benin",229,{"id":140,"name":141,"phoneCode":142},193,"Bermuda",1441,{"id":144,"name":145,"phoneCode":146},22,"Bhutan",975,{"id":148,"name":149,"phoneCode":150},19,"Bolivia",591,{"id":152,"name":153,"phoneCode":154},185,"Bonaire",599,{"id":156,"name":157,"phoneCode":154},256,"Bonaire, Sint Eustatius and Saba",{"id":159,"name":160,"phoneCode":161},11,"Bosna i Hercegovina",387,{"id":163,"name":164,"phoneCode":165},23,"Botswana",267,{"id":167,"name":168,"phoneCode":115},194,"Bouvet Island",{"id":170,"name":171,"phoneCode":172},20,"Brazil",55,{"id":174,"name":175,"phoneCode":47},211,"British Indian Ocean Territory",{"id":177,"name":178,"phoneCode":179},18,"Brunei",673,{"id":181,"name":182,"phoneCode":183},15,"Bulgaria",359,{"id":185,"name":186,"phoneCode":187},14,"Burkina Faso",226,{"id":189,"name":190,"phoneCode":191},16,"Burundi",257,{"id":193,"name":194,"phoneCode":195},86,"Cambodia",855,{"id":197,"name":198,"phoneCode":199},33,"Cameroon",237,{"id":201,"name":202,"phoneCode":47},26,"Canada",{"id":204,"name":205,"phoneCode":206},197,"Cape Verde",238,{"id":208,"name":209,"phoneCode":210},216,"Cayman Islands",1345,{"id":212,"name":213,"phoneCode":214},28,"Central African Rep.",236,{"id":216,"name":217,"phoneCode":218},155,"Chad",235,{"id":130,"name":220,"phoneCode":221},"Chile",56,{"id":223,"name":224,"phoneCode":193},34,"China",{"id":226,"name":227,"phoneCode":95},198,"Christmas Island",{"id":229,"name":230,"phoneCode":95},195,"Cocos (Keeling) Islands",{"id":232,"name":233,"phoneCode":234},35,"Colombia",57,{"id":236,"name":237,"phoneCode":238},214,"Comoros",269,{"id":240,"name":241,"phoneCode":242},29,"Congo",242,{"id":244,"name":245,"phoneCode":246},196,"Cook Islands",682,{"id":248,"name":249,"phoneCode":250},36,"Costa Rica",506,{"id":252,"name":253,"phoneCode":254},31,"Côte d`Ivoire",225,{"id":256,"name":257,"phoneCode":258},70,"Croatia",385,{"id":260,"name":261,"phoneCode":262},37,"Cuba",53,{"id":264,"name":265,"phoneCode":47},253,"Curaçao",{"id":267,"name":268,"phoneCode":269},38,"Cyprus",357,{"id":271,"name":272,"phoneCode":273},39,"Czech Rep.",420,{"id":275,"name":276,"phoneCode":277},27,"Dem. Rep. Congo",243,{"id":279,"name":280,"phoneCode":281},42,"Denmark",45,{"id":283,"name":284,"phoneCode":264},41,"Djibouti",{"id":286,"name":287,"phoneCode":288},199,"Dominica",1767,{"id":99,"name":290,"phoneCode":291},"Dominican Republic",1809,{"id":281,"name":293,"phoneCode":294},"Ecuador",593,{"id":296,"name":297,"phoneCode":170},47,"Egypt",{"id":299,"name":300,"phoneCode":301},152,"El Salvador",503,{"id":303,"name":304,"phoneCode":305},63,"Eq. Guinea",240,{"id":307,"name":308,"phoneCode":309},49,"Eritrea",291,{"id":311,"name":312,"phoneCode":313},46,"Estonia",372,{"id":315,"name":316,"phoneCode":317},51,"Ethiopia",251,{"id":83,"name":319,"phoneCode":320},"Falkland Is.",500,{"id":322,"name":323,"phoneCode":324},201,"Faroe Islands",298,{"id":262,"name":326,"phoneCode":327},"Fiji",679,{"id":329,"name":330,"phoneCode":331},52,"Finland",358,{"id":333,"name":334,"phoneCode":115},156,"Fr. S. Antarctic Lands",{"id":172,"name":336,"phoneCode":197},"France",{"id":338,"name":339,"phoneCode":47},203,"French Guiana",{"id":341,"name":342,"phoneCode":343},231,"French Polynesia",689,{"id":221,"name":345,"phoneCode":346},"Gabon",241,{"id":95,"name":348,"phoneCode":349},"Gambia",220,{"id":351,"name":352,"phoneCode":353},58,"Georgia",995,{"id":355,"name":356,"phoneCode":307},40,"Germany",{"id":358,"name":359,"phoneCode":360},59,"Ghana",233,{"id":362,"name":363,"phoneCode":364},205,"Gibraltar",350,{"id":366,"name":367,"phoneCode":368},64,"Greece",30,{"id":370,"name":371,"phoneCode":372},60,"Greenland",299,{"id":374,"name":375,"phoneCode":376},202,"Grenada",1473,{"id":378,"name":379,"phoneCode":115},206,"Guadeloupe",{"id":381,"name":382,"phoneCode":383},208,"Guam",1671,{"id":385,"name":386,"phoneCode":387},65,"Guatemala",502,{"id":389,"name":390,"phoneCode":391},62,"Guinea",224,{"id":393,"name":394,"phoneCode":395},66,"Guinea-Bissau",245,{"id":397,"name":398,"phoneCode":399},67,"Guyana",592,{"id":401,"name":402,"phoneCode":403},71,"Haiti",509,{"id":405,"name":406,"phoneCode":115},209,"Heard and Mc Donald Islands",{"id":395,"name":408,"phoneCode":271},"Holy See (Vatican City State)",{"id":410,"name":411,"phoneCode":412},69,"Honduras",504,{"id":414,"name":415,"phoneCode":416},68,"Hong Kong",852,{"id":418,"name":419,"phoneCode":248},72,"Hungary",{"id":421,"name":422,"phoneCode":423},79,"Iceland",354,{"id":425,"name":426,"phoneCode":427},76,"India",91,{"id":429,"name":430,"phoneCode":389},73,"Indonesia",{"id":432,"name":433,"phoneCode":434},78,"Iran",98,{"id":436,"name":437,"phoneCode":438},77,"Iraq",964,{"id":440,"name":441,"phoneCode":442},74,"Ireland",353,{"id":444,"name":445,"phoneCode":53},210,"Isle of Man",{"id":447,"name":448,"phoneCode":449},75,"Israel",972,{"id":451,"name":452,"phoneCode":271},80,"Italy",{"id":454,"name":455,"phoneCode":456},81,"Jamaica",1876,{"id":458,"name":459,"phoneCode":454},83,"Japan",{"id":461,"name":462,"phoneCode":463},82,"Jordan",962,{"id":465,"name":466,"phoneCode":81},90,"Kazakhstan",{"id":468,"name":469,"phoneCode":470},84,"Kenya",254,{"id":55,"name":472,"phoneCode":473},"Kiribati",686,{"id":475,"name":476,"phoneCode":47},176,"Kosovo",{"id":478,"name":479,"phoneCode":480},89,"Kuwait",965,{"id":482,"name":483,"phoneCode":484},85,"Kyrgyzstan",996,{"id":427,"name":486,"phoneCode":487},"Laos",856,{"id":434,"name":489,"phoneCode":490},"Latvia",371,{"id":492,"name":493,"phoneCode":494},92,"Lebanon",961,{"id":496,"name":497,"phoneCode":498},95,"Lesotho",266,{"id":500,"name":501,"phoneCode":502},97,"Lëtzebuerg",352,{"id":504,"name":505,"phoneCode":341},94,"Liberia",{"id":507,"name":508,"phoneCode":509},99,"Libya",218,{"id":509,"name":511,"phoneCode":512},"Liechtenstein",423,{"id":514,"name":515,"phoneCode":516},96,"Lithuania",370,{"id":518,"name":519,"phoneCode":520},222,"Macau",853,{"id":522,"name":523,"phoneCode":524},104,"Macedonia",389,{"id":526,"name":527,"phoneCode":528},103,"Madagascar",261,{"id":530,"name":531,"phoneCode":532},110,"Malawi",265,{"id":534,"name":535,"phoneCode":370},112,"Malaysia",{"id":537,"name":538,"phoneCode":539},227,"Maldives",960,{"id":541,"name":542,"phoneCode":543},105,"Mali",223,{"id":254,"name":545,"phoneCode":546},"Malta",356,{"id":548,"name":549,"phoneCode":550},221,"Marshall Islands",692,{"id":391,"name":552,"phoneCode":47},"Martinique",{"id":554,"name":555,"phoneCode":518},108,"Mauritania",{"id":557,"name":558,"phoneCode":559},109,"Mauritius",1664,{"id":187,"name":558,"phoneCode":561},230,{"id":317,"name":563,"phoneCode":564},"Mayotte",262,{"id":566,"name":567,"phoneCode":329},111,"Mexico",{"id":569,"name":570,"phoneCode":571},200,"Micronesia, Federated States of",691,{"id":573,"name":574,"phoneCode":575},101,"Moldova",373,{"id":577,"name":578,"phoneCode":579},219,"Monaco",377,{"id":581,"name":582,"phoneCode":583},107,"Mongolia",976,{"id":585,"name":586,"phoneCode":587},102,"Montenegro",382,{"id":589,"name":590,"phoneCode":117},100,"Morocco",{"id":592,"name":593,"phoneCode":594},113,"Mozambique",258,{"id":596,"name":597,"phoneCode":496},106,"Myanmar",{"id":599,"name":600,"phoneCode":601},114,"Namibia",264,{"id":138,"name":603,"phoneCode":604},"Nauru",674,{"id":606,"name":607,"phoneCode":608},121,"Nepal",977,{"id":610,"name":611,"phoneCode":252},119,"Netherlands",{"id":613,"name":614,"phoneCode":615},115,"New Caledonia",687,{"id":617,"name":618,"phoneCode":366},122,"New Zealand",{"id":620,"name":621,"phoneCode":622},118,"Nicaragua",505,{"id":624,"name":625,"phoneCode":537},116,"Niger",{"id":627,"name":628,"phoneCode":629},117,"Nigeria",234,{"id":561,"name":631,"phoneCode":632},"Niue",683,{"id":634,"name":635,"phoneCode":47},228,"Norfolk Island",{"id":637,"name":638,"phoneCode":639},87,"North Korea",850,{"id":641,"name":642,"phoneCode":47},175,"Northern Cyprus",{"id":543,"name":644,"phoneCode":645},"Northern Mariana Islands",1670,{"id":647,"name":648,"phoneCode":296},120,"Norway",{"id":650,"name":651,"phoneCode":652},123,"Oman",968,{"id":654,"name":655,"phoneCode":492},128,"Pakistan",{"id":629,"name":657,"phoneCode":658},"Palau",680,{"id":660,"name":661,"phoneCode":47},131,"Palestine",{"id":663,"name":664,"phoneCode":665},124,"Panama",507,{"id":667,"name":668,"phoneCode":669},126,"Papua New Guinea",675,{"id":671,"name":672,"phoneCode":673},133,"Paraguay",595,{"id":675,"name":676,"phoneCode":315},125,"Peru",{"id":678,"name":679,"phoneCode":303},127,"Philippines",{"id":360,"name":681,"phoneCode":682},"Pitcairn",870,{"id":684,"name":685,"phoneCode":686},129,"Poland",48,{"id":688,"name":689,"phoneCode":690},132,"Portugal",351,{"id":692,"name":693,"phoneCode":47},130,"Puerto Rico",{"id":695,"name":696,"phoneCode":697},134,"Qatar",974,{"id":218,"name":699,"phoneCode":115},"Reunion",{"id":701,"name":702,"phoneCode":355},135,"Romania",{"id":704,"name":705,"phoneCode":81},137,"Russia",{"id":707,"name":708,"phoneCode":709},138,"Rwanda",250,{"id":711,"name":712,"phoneCode":47},151,"S. Sudan",{"id":714,"name":715,"phoneCode":716},192,"Saint Barthélemy",590,{"id":718,"name":719,"phoneCode":720},215,"Saint Kitts and Nevis",1869,{"id":722,"name":723,"phoneCode":724},217,"Saint LUCIA",1758,{"id":349,"name":726,"phoneCode":727},"Saint Martin",1599,{"id":729,"name":730,"phoneCode":731},246,"Saint Vincent and the Grenadines",1784,{"id":709,"name":733,"phoneCode":734},"Samoa",685,{"id":206,"name":736,"phoneCode":737},"San Marino",378,{"id":739,"name":740,"phoneCode":739},239,"Sao Tome and Principe",{"id":742,"name":743,"phoneCode":744},139,"Saudi Arabia",966,{"id":746,"name":747,"phoneCode":548},148,"Senegal",{"id":749,"name":750,"phoneCode":751},136,"Serbia",381,{"id":214,"name":753,"phoneCode":754},"Seychelles",248,{"id":756,"name":753,"phoneCode":757},144,290,{"id":759,"name":760,"phoneCode":761},147,"Sierra Leone",232,{"id":763,"name":764,"phoneCode":385},143,"Singapore",{"id":470,"name":766,"phoneCode":47},"Sint Maarten (Dutch part)",{"id":768,"name":769,"phoneCode":770},146,"Slovakia",421,{"id":772,"name":773,"phoneCode":774},145,"Slovenia",386,{"id":776,"name":777,"phoneCode":778},140,"Solomon Is.",677,{"id":780,"name":781,"phoneCode":782},149,"Somalia",252,{"id":784,"name":785,"phoneCode":47},177,"Somaliland",{"id":787,"name":788,"phoneCode":275},179,"South Africa",{"id":790,"name":791,"phoneCode":115},207,"South Georgia and the South Sandwich Islands",{"id":793,"name":794,"phoneCode":461},88,"South Korea",{"id":796,"name":797,"phoneCode":223},50,"Spain",{"id":43,"name":799,"phoneCode":504},"Sri Lanka",{"id":761,"name":801,"phoneCode":802},"St. Pierre and Miquelon",508,{"id":804,"name":805,"phoneCode":806},141,"Sudan",249,{"id":808,"name":809,"phoneCode":810},150,"Suriname",597,{"id":199,"name":812,"phoneCode":115},"Svalbard and Jan Mayen Islands",{"id":814,"name":815,"phoneCode":816},154,"Swaziland",268,{"id":818,"name":819,"phoneCode":311},142,"Sweden",{"id":368,"name":821,"phoneCode":283},"Switzerland",{"id":823,"name":824,"phoneCode":825},153,"Syria",963,{"id":827,"name":828,"phoneCode":829},165,"Taiwan",886,{"id":831,"name":832,"phoneCode":833},159,"Tajikistan",992,{"id":835,"name":836,"phoneCode":837},166,"Tanzania",255,{"id":839,"name":840,"phoneCode":393},158,"Thailand",{"id":842,"name":843,"phoneCode":844},160,"Timor-Leste",670,{"id":846,"name":847,"phoneCode":634},157,"Togo",{"id":346,"name":849,"phoneCode":850},"Tokelau",690,{"id":242,"name":852,"phoneCode":853},"Tonga",676,{"id":855,"name":856,"phoneCode":857},164,"Trinidad and Tobago",1868,{"id":859,"name":860,"phoneCode":208},162,"Tunisia",{"id":862,"name":863,"phoneCode":465},163,"Türkiye",{"id":865,"name":866,"phoneCode":867},161,"Turkmenistan",993,{"id":305,"name":869,"phoneCode":870},"Turks and Caicos Islands",1649,{"id":277,"name":872,"phoneCode":873},"Tuvalu",688,{"id":875,"name":876,"phoneCode":156},168,"Uganda",{"id":878,"name":879,"phoneCode":880},167,"Ukraine",380,{"id":25,"name":882,"phoneCode":883},"United Arab Emirates",971,{"id":234,"name":885,"phoneCode":53},"United Kingdom",{"id":887,"name":888,"phoneCode":47},169,"United States",{"id":67,"name":890,"phoneCode":115},"United States Minor Outlying Islands",{"id":892,"name":893,"phoneCode":894},170,"Uruguay",598,{"id":896,"name":897,"phoneCode":898},171,"Uzbekistan",998,{"id":900,"name":901,"phoneCode":902},174,"Vanuatu",678,{"id":904,"name":905,"phoneCode":351},172,"Venezuela",{"id":907,"name":908,"phoneCode":468},173,"Vietnam",{"id":910,"name":911,"phoneCode":912},247,"Virgin Islands (British)",1284,{"id":754,"name":914,"phoneCode":915},"Virgin Islands (U.S.)",1340,{"id":686,"name":917,"phoneCode":47},"W. Sahara",{"id":806,"name":919,"phoneCode":920},"Wallis and Futuna Islands",681,{"id":922,"name":923,"phoneCode":924},178,"Yemen",967,{"id":837,"name":926,"phoneCode":8},"Yugoslavia",{"id":928,"name":929,"phoneCode":930},180,"Zambia",260,{"id":932,"name":933,"phoneCode":934},181,"Zimbabwe",263,{"id":782,"name":936,"phoneCode":8},"Zona del Canal de Panamá",{"id":938,"name":939,"phoneCode":940},24,"Беларусь",375,[942,965,985,1006,1028,1050,1072,1102,1130,1158,1186,1208,1230,1252,1274,1296,1318,1336,1358,1380,1402,1424],{"id":159,"label":943,"segment":944,"translations":952},"Basic sanitation",{"id":5,"title":6,"translations":945},[946,948,950],{"title":6,"slug":11,"language":947},{"code":13},{"title":15,"slug":16,"language":949},{"code":18},{"title":20,"slug":21,"language":951},{"code":23},[953,957,961],{"label":954,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":955,"language":956},"Basic Sanitation","basic-sanitation",{"code":13},{"label":958,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":959,"language":960},"Saneamento Básico","saneamento-basico",{"code":18},{"label":962,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":963,"language":964},"Saneamiento Básico","saneamiento-basico",{"code":23},{"id":212,"label":966,"segment":967,"translations":975},"Data Center",{"id":25,"title":26,"translations":968},[969,971,973],{"title":26,"slug":30,"language":970},{"code":13},{"title":33,"slug":34,"language":972},{"code":23},{"title":37,"slug":38,"language":974},{"code":18},[976,980,983],{"label":977,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":978,"language":979},"Data Centres","",{"code":13},{"label":981,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":978,"language":982},"Data Centers",{"code":18},{"label":981,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":978,"language":984},{"code":23},{"id":120,"label":986,"segment":987,"translations":995},"Energy",{"id":5,"title":6,"translations":988},[989,991,993],{"title":6,"slug":11,"language":990},{"code":13},{"title":15,"slug":16,"language":992},{"code":18},{"title":20,"slug":21,"language":994},{"code":23},[996,999,1003],{"label":986,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":997,"language":998},"energy",{"code":13},{"label":1000,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1001,"language":1002},"Energia","energia",{"code":18},{"label":1004,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1001,"language":1005},"Energía",{"code":23},{"id":189,"label":1007,"segment":1008,"translations":1016},"Environmental Assets",{"id":5,"title":6,"translations":1009},[1010,1012,1014],{"title":6,"slug":11,"language":1011},{"code":13},{"title":15,"slug":16,"language":1013},{"code":18},{"title":20,"slug":21,"language":1015},{"code":23},[1017,1020,1024],{"label":1007,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1018,"language":1019},"environmental-assets",{"code":13},{"label":1021,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1022,"language":1023},"Ativos Ambientais","ativos-ambientais",{"code":18},{"label":1025,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1026,"language":1027},"Activos Ambientales","activos-ambientales",{"code":23},{"id":97,"label":1029,"segment":1030,"translations":1038},"ESG & Sustainability",{"id":25,"title":26,"translations":1031},[1032,1034,1036],{"title":26,"slug":30,"language":1033},{"code":13},{"title":33,"slug":34,"language":1035},{"code":23},{"title":37,"slug":38,"language":1037},{"code":18},[1039,1042,1046],{"label":1029,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1040,"language":1041},"esg-sustainability",{"code":13},{"label":1043,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1044,"language":1045},"ESG & Sustentabilidade","esg-sustentabilidade",{"code":18},{"label":1047,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1048,"language":1049},"ESG y Sostenibilidad","esg-y-sostenibilidad",{"code":23},{"id":136,"label":1051,"segment":1052,"translations":1060},"Financing & Capital Markets",{"id":5,"title":6,"translations":1053},[1054,1056,1058],{"title":6,"slug":11,"language":1055},{"code":13},{"title":15,"slug":16,"language":1057},{"code":18},{"title":20,"slug":21,"language":1059},{"code":23},[1061,1064,1068],{"label":1051,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1062,"language":1063},"financing-capital-markets",{"code":13},{"label":1065,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1066,"language":1067},"Financiamento & Mercado de Capitais","financiamento-mercado-de-capitais",{"code":18},{"label":1069,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1070,"language":1071},"Financiación y Mercados de Capitales","financiacion-y-mercados-de-capitales",{"code":23},{"id":132,"label":1073,"segment":1074,"translations":1084},"GRI Analisa",{"id":589,"title":1075,"translations":1076},"Latin America",[1077,1080,1082],{"title":1075,"slug":1078,"language":1079},"latin-america",{"code":13},{"title":1075,"slug":1078,"language":1081},{"code":18},{"title":1075,"slug":1078,"language":1083},{"code":23},[1085,1091,1096],{"label":1086,"title":1087,"subtitle":1088,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1089,"language":1090},"GRI Analyses","Strategic thought leadership","The GRI Analyses series presents in-depth diagnostics and original studies by the GRI Institute on high-impact themes. It translates contemporary challenges into technical analysis. That analysis grounds strategic debate.","gri-analyses",{"code":13},{"label":1073,"title":1092,"subtitle":1093,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1094,"language":1095},"Liderança de pensamento estratégico","A série GRI Analisa apresenta diagnósticos aprofundados e estudos originais do GRI Institute sobre temas de alto impacto. Traduz desafios contemporâneos em análise técnica. Essa análise fundamenta o debate estratégico.","gri-analisa",{"code":18},{"label":1097,"title":1098,"subtitle":1099,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1100,"language":1101},"GRI Analiza","Liderazgo de pensamiento estratégico","La serie GRI Analiza presenta diagnósticos en profundidad y estudios originales del GRI Institute sobre temas de alto impacto. Traduce los desafíos contemporáneos en análisis técnico. Ese análisis sustenta el debate estratégico.","gri-analiza",{"code":23},{"id":163,"label":1103,"segment":1104,"translations":1112},"GRI Antecipa",{"id":589,"title":1075,"translations":1105},[1106,1108,1110],{"title":1075,"slug":1078,"language":1107},{"code":13},{"title":1075,"slug":1078,"language":1109},{"code":18},{"title":1075,"slug":1078,"language":1111},{"code":23},[1113,1119,1124],{"label":1114,"title":1115,"subtitle":1116,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1117,"language":1118},"GRI Foresees","Trend analysis","The GRI Foresees series anticipates market trends and movements. It consolidates the critical data captured by the GRI Barometer. The Barometer is the GRI Institute's research tool for measuring the current state of the industry.","gri-foresees",{"code":13},{"label":1103,"title":1120,"subtitle":1121,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1122,"language":1123},"Análise de tendências","A série GRI Antecipa projeta tendências e movimentos de mercado. Consolida os dados críticos captados pelo GRI Barometer. O Barometer é a ferramenta de pesquisa do GRI Institute para medir o estado atual do setor.","gri-antecipa",{"code":18},{"label":1125,"title":1126,"subtitle":1127,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1128,"language":1129},"GRI Anticipa","Análisis de tendencias","La serie GRI Anticipa proyecta tendencias y movimientos del mercado. Consolida los datos críticos captados por el GRI Barometer. El Barometer es la herramienta de investigación del GRI Institute para medir el estado actual del sector.","gri-anticipa",{"code":23},{"id":938,"label":1131,"segment":1132,"translations":1140},"GRI Monitora",{"id":589,"title":1075,"translations":1133},[1134,1136,1138],{"title":1075,"slug":1078,"language":1135},{"code":13},{"title":1075,"slug":1078,"language":1137},{"code":18},{"title":1075,"slug":1078,"language":1139},{"code":23},[1141,1147,1152],{"label":1142,"title":1143,"subtitle":1144,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1145,"language":1146},"GRI Monitors","Leading-edge monitoring","The GRI Monitors series tracks the regulatory landscape in depth. This tracking is essential for sound decision-making. The GRI Institute develops the specialized technical content of the series.","gri-monitors",{"code":13},{"label":1131,"title":1148,"subtitle":1149,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1150,"language":1151},"Monitoramento de vanguarda","A série GRI Monitora acompanha em profundidade o cenário regulatório. Esse acompanhamento é essencial para decisões seguras. O GRI Institute desenvolve o conteúdo técnico especializado da série.","gri-monitora",{"code":18},{"label":1153,"title":1154,"subtitle":1155,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1156,"language":1157},"GRI Monitorea","Monitoreo de vanguardia","La serie GRI Monitorea acompaña en profundidad el escenario regulatorio. Ese seguimiento es esencial para decisiones seguras. El GRI Institute desarrolla el contenido técnico especializado de la serie.","gri-monitorea",{"code":23},{"id":105,"label":1159,"segment":1160,"translations":1168},"GRI Propõe",{"id":589,"title":1075,"translations":1161},[1162,1164,1166],{"title":1075,"slug":1078,"language":1163},{"code":13},{"title":1075,"slug":1078,"language":1165},{"code":18},{"title":1075,"slug":1078,"language":1167},{"code":23},[1169,1175,1180],{"label":1170,"title":1171,"subtitle":1172,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1173,"language":1174},"GRI Proposes","Policy & legal framework proposals","The GRI Proposes series presents strategic recommendations for public policy and legal frameworks. It draws on the collective intelligence of the GRI Institute. It mobilizes the public sector and the market to enable structural transformation across the industry.","gri-proposes",{"code":13},{"label":1159,"title":1176,"subtitle":1177,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1178,"language":1179},"Propostas de marcos legais e regulatórios","A série GRI Propõe apresenta recomendações estratégicas para políticas públicas e marcos legais. Nasce da inteligência coletiva do GRI Institute. Mobiliza o setor público e o mercado para viabilizar transformações estruturais no setor.","gri-propoe",{"code":18},{"label":1181,"title":1182,"subtitle":1183,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1184,"language":1185},"GRI Propone","Propuestas de marcos legales y regulatorios","La serie GRI Propone presenta recomendaciones estratégicas para políticas públicas y marcos legales. Nace de la inteligencia colectiva del GRI Institute. Moviliza al sector público y al mercado para viabilizar transformaciones estructurales en el sector.","gri-propone",{"code":23},{"id":85,"label":1187,"segment":1188,"translations":1196},"Hotel & Hospitality",{"id":25,"title":26,"translations":1189},[1190,1192,1194],{"title":26,"slug":30,"language":1191},{"code":13},{"title":33,"slug":34,"language":1193},{"code":23},{"title":37,"slug":38,"language":1195},{"code":18},[1197,1200,1204],{"label":1187,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1198,"language":1199},"hotel-hospitality",{"code":13},{"label":1201,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1202,"language":1203},"Hotelaria & Hospitalidade","hotelaria-hospitalidade",{"code":18},{"label":1205,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1206,"language":1207},"Hotelería y Hospitalidad","hoteleria-y-hospitalidad",{"code":23},{"id":49,"label":1209,"segment":1210,"translations":1218},"Industrial & Logistics",{"id":25,"title":26,"translations":1211},[1212,1214,1216],{"title":26,"slug":30,"language":1213},{"code":13},{"title":33,"slug":34,"language":1215},{"code":23},{"title":37,"slug":38,"language":1217},{"code":18},[1219,1222,1226],{"label":1209,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1220,"language":1221},"industrial-logistics",{"code":13},{"label":1223,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1224,"language":1225},"Industrial & Logística","industrial-logistica",{"code":18},{"label":1227,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1228,"language":1229},"Industrial y Logístico","industrial-y-logistico",{"code":23},{"id":65,"label":1231,"segment":1232,"translations":1240},"Investments & Finance",{"id":25,"title":26,"translations":1233},[1234,1236,1238],{"title":26,"slug":30,"language":1235},{"code":13},{"title":33,"slug":34,"language":1237},{"code":23},{"title":37,"slug":38,"language":1239},{"code":18},[1241,1244,1248],{"label":1231,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1242,"language":1243},"investments-finance",{"code":13},{"label":1245,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1246,"language":1247},"Investimentos & Fundos Imobiliários","investimentos-e-fundos-imobiliarios",{"code":18},{"label":1249,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1250,"language":1251},"Inversiones y Fondos Inmobiliarios","fondos-inmobiliarios-y-financiacion",{"code":23},{"id":93,"label":1253,"segment":1254,"translations":1262},"Legal\u002FCorporate\u002FGeopolitics",{"id":25,"title":26,"translations":1255},[1256,1258,1260],{"title":26,"slug":30,"language":1257},{"code":13},{"title":33,"slug":34,"language":1259},{"code":23},{"title":37,"slug":38,"language":1261},{"code":18},[1263,1266,1270],{"label":1253,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1264,"language":1265},"legal-corporate-geopolitics",{"code":13},{"label":1267,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1268,"language":1269},"Legislação & Jurídico","legislacao-juridico",{"code":18},{"label":1271,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1272,"language":1273},"Legislación y Legal","legislacion-y-legal",{"code":23},{"id":25,"label":1275,"segment":1276,"translations":1284},"Offices",{"id":25,"title":26,"translations":1277},[1278,1280,1282],{"title":26,"slug":30,"language":1279},{"code":13},{"title":33,"slug":34,"language":1281},{"code":23},{"title":37,"slug":38,"language":1283},{"code":18},[1285,1288,1292],{"label":1275,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1286,"language":1287},"offices",{"code":13},{"label":1289,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1290,"language":1291},"Lajes Corporativas","lajes-corporativas",{"code":18},{"label":1293,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1294,"language":1295},"Oficinas","oficinas",{"code":23},{"id":47,"label":1297,"segment":1298,"translations":1306},"Residential & BTR",{"id":25,"title":26,"translations":1299},[1300,1302,1304],{"title":26,"slug":30,"language":1301},{"code":13},{"title":33,"slug":34,"language":1303},{"code":23},{"title":37,"slug":38,"language":1305},{"code":18},[1307,1310,1314],{"label":1297,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1308,"language":1309},"residential-btr",{"code":13},{"label":1311,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1312,"language":1313},"Residencial & BTR","residencial-btr",{"code":18},{"label":1315,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1316,"language":1317},"Residencial y Multifamily","residencial-y-multifamily",{"code":23},{"id":5,"label":1319,"segment":1320,"translations":1328},"Shopping & Retail",{"id":25,"title":26,"translations":1321},[1322,1324,1326],{"title":26,"slug":30,"language":1323},{"code":13},{"title":33,"slug":34,"language":1325},{"code":23},{"title":37,"slug":38,"language":1327},{"code":18},[1329,1332,1334],{"label":1319,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1330,"language":1331},"shopping-retail",{"code":13},{"label":1319,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1330,"language":1333},{"code":18},{"label":1319,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1330,"language":1335},{"code":23},{"id":181,"label":1337,"segment":1338,"translations":1346},"Social Infrastructure",{"id":5,"title":6,"translations":1339},[1340,1342,1344],{"title":6,"slug":11,"language":1341},{"code":13},{"title":15,"slug":16,"language":1343},{"code":18},{"title":20,"slug":21,"language":1345},{"code":23},[1347,1350,1354],{"label":1337,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1348,"language":1349},"social-infrastructure",{"code":13},{"label":1351,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1352,"language":1353},"Infraestrutura Social","infraestrutura-socia",{"code":18},{"label":1355,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1356,"language":1357},"Infraestructura Social","infraestructura-social",{"code":23},{"id":81,"label":1359,"segment":1360,"translations":1368},"Technology & Innovation",{"id":25,"title":26,"translations":1361},[1362,1364,1366],{"title":26,"slug":30,"language":1363},{"code":13},{"title":33,"slug":34,"language":1365},{"code":23},{"title":37,"slug":38,"language":1367},{"code":18},[1369,1372,1376],{"label":1359,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1370,"language":1371},"technology-innovation",{"code":13},{"label":1373,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1374,"language":1375},"Tecnologia & Inovação","tecnologia-inovacao",{"code":18},{"label":1377,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1378,"language":1379},"Tecnología e Innovación","tecnologia-y-innovacion",{"code":23},{"id":128,"label":1381,"segment":1382,"translations":1390},"Telecommunications",{"id":5,"title":6,"translations":1383},[1384,1386,1388],{"title":6,"slug":11,"language":1385},{"code":13},{"title":15,"slug":16,"language":1387},{"code":18},{"title":20,"slug":21,"language":1389},{"code":23},[1391,1394,1398],{"label":1381,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1392,"language":1393},"telecommunications",{"code":13},{"label":1395,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1396,"language":1397},"Telecomunicações","telecomunicacoes",{"code":18},{"label":1399,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1400,"language":1401},"Telecomunicaciones","telecomunicaciones",{"code":23},{"id":101,"label":1403,"segment":1404,"translations":1412},"Transport & Logistics",{"id":5,"title":6,"translations":1405},[1406,1408,1410],{"title":6,"slug":11,"language":1407},{"code":13},{"title":15,"slug":16,"language":1409},{"code":18},{"title":20,"slug":21,"language":1411},{"code":23},[1413,1416,1420],{"label":1403,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1414,"language":1415},"transport-logistics",{"code":13},{"label":1417,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1418,"language":1419},"Transportes & Logística","transportes-logistica",{"code":18},{"label":1421,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1422,"language":1423},"Transporte y Logística","transporte-y-logistica",{"code":23},{"id":185,"label":1425,"segment":1426,"translations":1434},"Urban Mobility",{"id":5,"title":6,"translations":1427},[1428,1430,1432],{"title":6,"slug":11,"language":1429},{"code":13},{"title":15,"slug":16,"language":1431},{"code":18},{"title":20,"slug":21,"language":1433},{"code":23},[1435,1438,1442],{"label":1425,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1436,"language":1437},"urban-mobility",{"code":13},{"label":1439,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1440,"language":1441},"Mobilidade Urbana","mobilidade-urbana",{"code":18},{"label":1443,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1444,"language":1445},"Movilidad Urbana","movilidad-urbana",{"code":23},{"id":1447,"status":1448,"segmentId":25,"slug":1449,"title":1450,"editorsPick":1451,"topImage":1452,"coverImage":1452,"slideImage":8,"publishDate":1453,"readTime":8,"maxRelatedEvents":5,"image":8,"imageCredit":8,"imageCreditColor":8,"breakNewsUntil":8,"seoTagConversionId":8,"seoTag":8,"seoTitle":8,"seoKeywords":8,"seoDescription":8,"seoAbstract":8,"seoImage":8,"visitCounter":1454,"createdAt":1455,"updatedAt":8,"translations":1456,"segment":1490,"categories":1498,"countries":1515,"authors":1533,"urls":1537},3242,"TRUE","lisa-bennewitz-pedro-baganha-european-real-estate-principals-capital-allocation","Lisa Bennewitz and the emerging principals reshaping capital allocation across European real estate",false,"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002Flisa-bennewitz-pedro-baganha-european-real-estate-principals-capital-allocation.webp","2026-03-12T00:00:00.000Z",654,"2026-03-17T20:14:15.000Z",[1457,1468,1479],{"id":1458,"newsId":1447,"languageId":47,"title":1450,"subtitle":1459,"content":1460,"summary":1461,"takeaways":1462,"seoTagConversionId":8,"seoTag":8,"seoTitle":1463,"seoKeywords":1464,"seoDescription":1465,"seoAbstract":8,"seoImage":1466,"createdAt":1455,"updatedAt":8,"language":1467},3762,"From Germany's capital markets to Porto's housing ambitions, a new cohort of connector-principals is redefining how institutional money flows into European prop","\u003Cp>European real estate investment climbed to €241 billion in 2025, up 13% from the previous year, according to CBRE. Behind that headline figure lies a structural shift in how capital reaches the continent's property markets. A rising generation of principals, individuals who combine deal origination expertise with deep institutional networks, is playing an increasingly decisive role in directing cross-border flows. Among them, Lisa Bennewitz and Pedro Baganha represent two distinct but complementary archetypes of the connector-principal now shaping the European investment landscape.\u003C\u002Fp>\n\u003Cp>The recovery in transaction volumes marks a turning point after several quarters of repricing and cautious deployment. Savills forecasts European real estate investment volumes to rise by around 16% in 2026, followed by 17% growth in 2027, signalling that the current rebound has structural momentum rather than being a one-quarter anomaly. In Q1 2026 alone, volumes are expected to reach approximately €52 billion, a 6% year-on-year increase, according to Savills. Within this environment, the individuals who can bridge capital sources, operating platforms, and regulatory access hold outsized influence over where and how money is deployed.\u003C\u002Fp>\n\u003Ch2>Who is Lisa Bennewitz and why does she matter for European capital markets?\u003C\u002Fh2>\n\u003Cp>Lisa Bennewitz serves as Head of Capital Markets, Germany at Round Hill Capital, one of the most active cross-border real estate investment managers operating across Europe. Over the course of her career, Bennewitz has advised on more than €50 billion of global transactions, according to Round Hill Capital. That volume of deal activity places her among the most experienced capital markets professionals operating in the German market today.\u003C\u002Fp>\n\u003Cp>Germany remains the largest single-country real estate investment market in continental Europe, and its capital markets function as a gateway for global institutional investors seeking exposure to the eurozone. Bennewitz's role at Round Hill Capital positions her at the intersection of several major trends: the growing appetite among global capital sources for direct principal investing in European real estate, the demand for co-investment rights and local partnerships, and the increasing complexity of regulatory compliance across jurisdictions.\u003C\u002Fp>\n\u003Cp>The shift from passive limited partner commitments to direct principal investing is one of the most consequential changes in European real estate capital formation in recent years. Global investors are no longer content to allocate capital through blind-pool vehicles and wait for quarterly reports. They want seats at the table, co-underwriting rights, and relationships with the principals who originate and execute deals on the ground. Professionals like Bennewitz, who combine transaction advisory depth with platform-level capital markets oversight, serve as critical nodes in this evolving architecture.\u003C\u002Fp>\n\u003Cp>The Living sector accounted for the greatest share of European investment activity in 2025, with volumes reaching €53 billion, according to CBRE. Round Hill Capital has historically maintained significant exposure to the residential and living sectors across Europe, making Bennewitz's capital markets leadership particularly relevant as institutional allocators increase their weighting toward housing, student accommodation, and multifamily assets.\u003C\u002Fp>\n\u003Ch2>What role does Pedro Baganha play in Portugal's real estate transformation?\u003C\u002Fh2>\n\u003Cp>While Bennewitz operates at the institutional capital markets level in Germany, Pedro Baganha represents a different but equally important dimension of the connector-principal model: the intersection of public policy, urban development, and private capital deployment.\u003C\u002Fp>\n\u003Cp>Porto aims to increase its public housing supply from 2% to 10% by 2030, driven by public-private partnerships, according to reporting by GRI Institute and Iberian Property. Baganha has been a central figure in advancing this agenda, working at the nexus of municipal ambition and private sector execution. The scale of Porto's housing target, a fivefold increase in public housing stock within a decade, demands precisely the kind of principal who can translate political objectives into investable structures.\u003C\u002Fp>\n\u003Cp>Portugal's broader regulatory environment is evolving to support this ambition. The Simplex Urbanístico, a legislative initiative aimed at simplifying and accelerating urban licensing processes for real estate development and construction, is designed to alleviate the supply bottlenecks that have constrained housing delivery across Portuguese cities. For institutional investors evaluating Iberian exposure, the combination of streamlined permitting and ambitious municipal housing targets creates a more legible investment thesis than was available even two years ago.\u003C\u002Fp>\n\u003Cp>Baganha's significance extends beyond any single project or policy initiative. He exemplifies a category of principal whose value lies in the ability to convene stakeholders across the public and private sectors, translating regulatory access into deal flow and converting political mandates into capital deployment opportunities. As European cities increasingly rely on public-private partnerships to address housing shortages, principals with this dual fluency become essential intermediaries.\u003C\u002Fp>\n\u003Ch2>The connector-principal model and the new architecture of European deal flow\u003C\u002Fh2>\n\u003Cp>The emergence of connector-principals reflects a deeper structural change in how European real estate markets function. The traditional model, in which capital flowed through a relatively small number of fund managers who controlled access to deal pipelines, is giving way to a more networked architecture. In this model, the principals who can assemble bespoke capital stacks, navigate regulatory frameworks, and maintain trusted relationships with both allocators and operators hold disproportionate influence.\u003C\u002Fp>\n\u003Cp>This shift is visible across GRI Institute's convening activities, where the composition of participants increasingly reflects the primacy of principals over platforms. Senior decision-makers from pension funds, sovereign wealth vehicles, family offices, and insurance companies attend GRI events to build direct relationships with the individuals who originate and structure transactions, rather than simply evaluating fund products. The emphasis on peer-to-peer engagement, a hallmark of the GRI Club model, mirrors the broader market trend toward disintermediation and principal-level access.\u003C\u002Fp>\n\u003Cp>The regulatory landscape adds further complexity, and therefore further value, to principals who can navigate it. Directive (EU) 2024\u002F1275, the revised Energy Performance of Buildings Directive, sets the buildings sector on the path towards full decarbonisation by 2050 and requires all new buildings to be zero-emission by 2030. The directive entered into force on May 28, 2024, and must be transposed into national legislation by May 29, 2026. For cross-border investors, this creates a patchwork of implementation timelines and compliance requirements that demand local expertise. Principals embedded in specific markets, whether Germany, Portugal, or elsewhere, become indispensable guides through this regulatory terrain.\u003C\u002Fp>\n\u003Cp>The implications for capital allocation are significant. Investors deploying into European real estate in 2026 and 2027 face a market that is simultaneously recovering in volume terms and becoming more demanding in structural terms. The combination of rising transaction activity, tightening environmental regulation, and evolving investor preferences for direct engagement means that the quality of one's principal relationships is becoming as important as the quality of one's asset underwriting.\u003C\u002Fp>\n\u003Ch2>How will principal-led capital flows shape European real estate through 2027?\u003C\u002Fh2>\n\u003Cp>The trajectory is clear. With Savills projecting cumulative growth of more than 30% in European investment volumes across 2026 and 2027, the quantum of capital seeking deployment will expand substantially. The question is how that capital will be intermediated.\u003C\u002Fp>\n\u003Cp>Three dynamics will define the answer. First, the continued shift toward direct and co-investment structures will elevate principals who can offer proprietary deal access and operational credibility. Second, the regulatory burden imposed by directives such as the EPBD will create barriers to entry for investors without deep local networks, further concentrating influence among well-connected principals. Third, sector-specific expertise, particularly in the Living sector which led European investment volumes in 2025, will differentiate principals who can source and execute in high-demand asset classes.\u003C\u002Fp>\n\u003Cp>Principals such as Lisa Bennewitz and Pedro Baganha are representative of a broader cohort that is reshaping the intermediation layer of European real estate. Their relevance is a function of the market's increasing complexity: more capital chasing more regulated assets across more jurisdictions, with investors demanding more transparency and more control.\u003C\u002Fp>\n\u003Cp>For institutional allocators, the implication is straightforward. Understanding who the principals are, what networks they operate within, and what regulatory and market access they provide is now a core component of due diligence. The days when European real estate allocation could be reduced to selecting a fund manager and a vintage year are receding. In their place is a landscape where principal relationships determine both access and alpha.\u003C\u002Fp>\n\u003Cp>GRI Institute continues to map these networks through its club-format engagements, providing members with direct access to the principals and decision-makers driving European real estate capital flows. As the market enters its next growth phase, the ability to identify and engage the right principals will separate the best-performing allocators from the rest.\u003C\u002Fp>\n","European real estate is experiencing a structural shift in how capital is intermediated. A new cohort of \"connector-principals\"—exemplified by Lisa Bennewitz (Head of Capital Markets, Germany at Round Hill Capital) and Pedro Baganha (advancing Porto's housing agenda)—is replacing traditional fund-manager gatekeeping with direct, relationship-driven capital deployment across borders.\n\nWith investment volumes projected to grow over 30% cumulatively through 2027, tightening ESG regulation under the revised EPBD, and the Living sector leading at €53B in 2025, investors increasingly depend on principals with local regulatory access, deal origination capabilities, and institutional networks to navigate Europe's more complex real estate landscape.","\u003Cul>\n\u003Cli>European real estate investment hit €241B in 2025 (+13%), with 30%+ cumulative growth projected through 2027.\u003C\u002Fli>\n\u003Cli>"Connector-principals" who bridge institutional capital, local deal origination, and regulatory expertise are displacing traditional fund-manager intermediation.\u003C\u002Fli>\n\u003Cli>The Living sector led 2025 European investment at €53B, attracting increased institutional allocation.\u003C\u002Fli>\n\u003Cli>EU directive 2024\u002F1275 requires zero-emission new buildings by 2030, creating regulatory complexity that favors locally embedded principals.\u003C\u002Fli>\n\u003Cli>Investors increasingly demand direct and co-investment structures over blind-pool fund commitments.\u003C\u002Fli>\n\u003Cli>Porto's plan to grow public housing from 2% to 10% by 2030 exemplifies policy-driven opportunities requiring public-private fluency.\u003C\u002Fli>\n\u003C\u002Ful>\n","Lisa Bennewitz & European real estate principals | GRI","lisa bennewitz, pedro baganha, gri real estate, gri club","Analysis of Lisa Bennewitz, Pedro Baganha, and the emerging connector-principals reshaping institutional capital allocation in European real estate. €241bn invested in 2025, with 16% growth forecast for 2026.","https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002Flisa-bennewitz-pedro-baganha-european-real-estate-principals-capital-allocation-seo.jpg",{"code":13},{"id":1469,"newsId":1447,"languageId":25,"title":1470,"subtitle":1471,"content":1472,"summary":1473,"takeaways":1474,"seoTagConversionId":8,"seoTag":8,"seoTitle":1475,"seoKeywords":1476,"seoDescription":1477,"seoAbstract":8,"seoImage":1466,"createdAt":1455,"updatedAt":8,"language":1478},3763,"Lisa Bennewitz e os principals emergentes que redefinem a alocação de capital no imobiliário europeu","Dos mercados de capitais da Alemanha às ambições habitacionais do Porto, uma nova geração de connector-principals redefine o fluxo institucional no imobiliário ","\u003Cp>O investimento imobiliário europeu alcançou €241 bilhões em 2025, alta de 13% em relação ao ano anterior, segundo a CBRE. Por trás desse número está uma mudança estrutural na forma como o capital chega aos mercados imobiliários do continente. Uma geração emergente de principals — profissionais que combinam expertise em originação de negócios com redes institucionais profundas — desempenha um papel cada vez mais decisivo no direcionamento dos fluxos transfronteiriços. Entre eles, Lisa Bennewitz e Pedro Baganha representam dois arquétipos distintos, mas complementares, do connector-principal que hoje molda o cenário de investimentos europeu.\u003C\u002Fp>\u003Cp>A recuperação nos volumes de transações marca um ponto de inflexão após vários trimestres de repricing e alocação cautelosa. A Savills projeta que os volumes de investimento imobiliário europeu cresçam cerca de 16% em 2026, seguidos por um crescimento de 17% em 2027, sinalizando que a retomada atual possui momentum estrutural e não é uma anomalia pontual. Somente no primeiro trimestre de 2026, espera-se que os volumes atinjam aproximadamente €52 bilhões, um aumento de 6% em relação ao ano anterior, segundo a Savills. Nesse ambiente, os profissionais capazes de conectar fontes de capital, plataformas operacionais e acesso regulatório exercem influência desproporcional sobre onde e como o dinheiro é alocado.\u003C\u002Fp>\u003Ch2>Quem é Lisa Bennewitz e por que ela é relevante para os mercados de capitais europeus?\u003C\u002Fh2>\u003Cp>Lisa Bennewitz atua como Head of Capital Markets, Germany na Round Hill Capital, uma das gestoras de investimento imobiliário cross-border mais ativas da Europa. Ao longo de sua carreira, Bennewitz assessorou mais de €50 bilhões em transações globais, segundo a Round Hill Capital. Esse volume de atividade a coloca entre as profissionais de mercado de capitais mais experientes do mercado alemão atual.\u003C\u002Fp>\u003Cp>A Alemanha continua sendo o maior mercado imobiliário nacional da Europa continental, e seus mercados de capitais funcionam como porta de entrada para investidores institucionais globais que buscam exposição à zona do euro. O papel de Bennewitz na Round Hill Capital a posiciona na interseção de várias tendências importantes: o crescente apetite de fontes globais de capital por investimento direto como principal no imobiliário europeu, a demanda por direitos de coinvestimento e parcerias locais, e a complexidade crescente da conformidade regulatória entre jurisdições.\u003C\u002Fp>\u003Cp>A mudança de compromissos passivos como limited partner para investimento direto como principal é uma das transformações mais significativas na formação de capital imobiliário europeu nos últimos anos. Investidores globais não se contentam mais em alocar capital por meio de veículos blind-pool e aguardar relatórios trimestrais. Eles querem assento à mesa, direitos de co-underwriting e relacionamentos com os principals que originam e executam negócios no terreno. Profissionais como Bennewitz, que combinam profundidade em assessoria transacional com supervisão de mercados de capitais em nível de plataforma, funcionam como nós críticos nessa arquitetura em evolução.\u003C\u002Fp>\u003Cp>O setor Living respondeu pela maior parcela da atividade de investimento europeu em 2025, com volumes atingindo €53 bilhões, segundo a CBRE. A Round Hill Capital historicamente manteve exposição significativa aos setores residencial e living em toda a Europa, tornando a liderança de Bennewitz em mercados de capitais particularmente relevante à medida que alocadores institucionais aumentam sua ponderação em habitação, alojamento estudantil e ativos multifamily.\u003C\u002Fp>\u003Ch2>Qual o papel de Pedro Baganha na transformação imobiliária de Portugal?\u003C\u002Fh2>\u003Cp>Enquanto Bennewitz opera no nível dos mercados de capitais institucionais na Alemanha, Pedro Baganha representa uma dimensão diferente, mas igualmente importante, do modelo connector-principal: a interseção entre políticas públicas, desenvolvimento urbano e alocação de capital privado.\u003C\u002Fp>\u003Cp>O Porto pretende aumentar sua oferta de habitação pública de 2% para 10% até 2030, impulsionado por parcerias público-privadas, segundo reportagens do GRI Institute e Iberian Property. Baganha tem sido uma figura central no avanço dessa agenda, atuando no nexo entre ambição municipal e execução pelo setor privado. A escala da meta habitacional do Porto — um aumento de cinco vezes no estoque de habitação pública em uma década — exige precisamente o tipo de principal capaz de traduzir objetivos políticos em estruturas investíveis.\u003C\u002Fp>\u003Cp>O ambiente regulatório mais amplo de Portugal está evoluindo para apoiar essa ambição. O Simplex Urbanístico, uma iniciativa legislativa destinada a simplificar e acelerar os processos de licenciamento urbanístico para desenvolvimento imobiliário e construção, foi concebido para aliviar os gargalos de oferta que restringem a entrega habitacional nas cidades portuguesas. Para investidores institucionais avaliando exposição ibérica, a combinação de licenciamento simplificado e metas municipais ambiciosas de habitação cria uma tese de investimento mais legível do que a disponível apenas dois anos atrás.\u003C\u002Fp>\u003Cp>A importância de Baganha vai além de qualquer projeto ou iniciativa política isolada. Ele exemplifica uma categoria de principal cujo valor reside na capacidade de reunir stakeholders dos setores público e privado, traduzindo acesso regulatório em pipeline de negócios e convertendo mandatos políticos em oportunidades de alocação de capital. À medida que as cidades europeias dependem cada vez mais de parcerias público-privadas para enfrentar a escassez habitacional, principals com essa dupla fluência tornam-se intermediários essenciais.\u003C\u002Fp>\u003Ch2>O modelo connector-principal e a nova arquitetura do deal flow europeu\u003C\u002Fh2>\u003Cp>O surgimento dos connector-principals reflete uma mudança estrutural mais profunda no funcionamento dos mercados imobiliários europeus. O modelo tradicional, no qual o capital fluía por um número relativamente pequeno de gestores de fundos que controlavam o acesso a pipelines de negócios, está dando lugar a uma arquitetura mais em rede. Nesse modelo, os principals capazes de montar capital stacks sob medida, navegar marcos regulatórios e manter relacionamentos de confiança tanto com alocadores quanto com operadores detêm influência desproporcional.\u003C\u002Fp>\u003Cp>Essa mudança é visível nas atividades de convocação do GRI Institute, onde a composição dos participantes reflete cada vez mais a primazia dos principals sobre as plataformas. Tomadores de decisão seniores de fundos de pensão, veículos soberanos, family offices e seguradoras participam de eventos GRI para construir relacionamentos diretos com os profissionais que originam e estruturam transações, em vez de simplesmente avaliar produtos de fundos. A ênfase no engajamento peer-to-peer, marca registrada do modelo GRI Club, espelha a tendência mais ampla do mercado em direção à desintermediação e ao acesso em nível de principal.\u003C\u002Fp>\u003Cp>O cenário regulatório adiciona mais complexidade e, portanto, mais valor aos principals que conseguem navegá-lo. A Diretiva (UE) 2024\u002F1275, a Diretiva revisada sobre Desempenho Energético dos Edifícios, coloca o setor de edificações no caminho da descarbonização total até 2050 e exige que todos os novos edifícios sejam de emissão zero até 2030. A diretiva entrou em vigor em 28 de maio de 2024 e deve ser transposta para a legislação nacional até 29 de maio de 2026. Para investidores transfronteiriços, isso cria um mosaico de cronogramas de implementação e requisitos de conformidade que demandam expertise local. Principals inseridos em mercados específicos — seja Alemanha, Portugal ou outros — tornam-se guias indispensáveis nesse terreno regulatório.\u003C\u002Fp>\u003Cp>As implicações para a alocação de capital são significativas. Investidores alocando no imobiliário europeu em 2026 e 2027 enfrentam um mercado que está simultaneamente se recuperando em termos de volume e se tornando mais exigente em termos estruturais. A combinação de atividade transacional crescente, regulação ambiental mais rígida e preferências dos investidores por engajamento direto significa que a qualidade dos relacionamentos com principals está se tornando tão importante quanto a qualidade da análise de ativos.\u003C\u002Fp>\u003Ch2>Como os fluxos de capital liderados por principals moldarão o imobiliário europeu até 2027?\u003C\u002Fh2>\u003Cp>A trajetória é clara. Com a Savills projetando crescimento acumulado de mais de 30% nos volumes de investimento europeus ao longo de 2026 e 2027, o volume de capital buscando alocação se expandirá substancialmente. A questão é como esse capital será intermediado.\u003C\u002Fp>\u003Cp>Três dinâmicas definirão a resposta. Primeiro, a contínua mudança para estruturas de investimento direto e coinvestimento elevará principals que possam oferecer acesso proprietário a negócios e credibilidade operacional. Segundo, a carga regulatória imposta por diretivas como a EPBD criará barreiras de entrada para investidores sem redes locais profundas, concentrando ainda mais a influência entre principals bem conectados. Terceiro, a expertise setorial específica — particularmente no setor Living, que liderou os volumes de investimento europeu em 2025 — diferenciará principals capazes de originar e executar em classes de ativos de alta demanda.\u003C\u002Fp>\u003Cp>Principals como Lisa Bennewitz e Pedro Baganha são representativos de uma coorte mais ampla que está remodelando a camada de intermediação do imobiliário europeu. Sua relevância é função da crescente complexidade do mercado: mais capital perseguindo ativos mais regulados em mais jurisdições, com investidores exigindo mais transparência e mais controle.\u003C\u002Fp>\u003Cp>Para alocadores institucionais, a implicação é direta. Compreender quem são os principals, em quais redes operam e qual acesso regulatório e de mercado proporcionam é agora um componente central da due diligence. Os dias em que a alocação imobiliária europeia podia ser reduzida a selecionar um gestor de fundos e uma safra estão ficando para trás. Em seu lugar está um cenário onde os relacionamentos com principals determinam tanto o acesso quanto o alpha.\u003C\u002Fp>\u003Cp>O GRI Institute continua a mapear essas redes por meio de seus encontros em formato de clube, proporcionando aos membros acesso direto aos principals e tomadores de decisão que impulsionam os fluxos de capital imobiliário europeu. À medida que o mercado entra em sua próxima fase de crescimento, a capacidade de identificar e engajar os principals certos separará os alocadores de melhor desempenho dos demais.\u003C\u002Fp>","O imobiliário europeu passa por uma mudança estrutural na intermediação de capital. Uma nova geração de \"connector-principals\" — exemplificada por Lisa Bennewitz (Head of Capital Markets, Germany na Round Hill Capital) e Pedro Baganha (agenda habitacional do Porto) — substitui a intermediação tradicional por alocação direta e baseada em relacionamentos. Com volumes projetados para crescer mais de 30% até 2027, regulação ESG mais rígida e o setor Living liderando com €53 bilhões em 2025, investidores dependem cada vez mais de principals com acesso regulatório local e redes institucionais.","\u003Cul>\n\u003Cli>O investimento imobiliário europeu atingiu €241 bilhões em 2025 (+13%), com crescimento acumulado de mais de 30% projetado até 2027.\u003C\u002Fli>\n\u003Cli>"Connector-principals" que conectam capital institucional, originação local e expertise regulatória estão substituindo a intermediação tradicional de gestores de fundos.\u003C\u002Fli>\n\u003Cli>O setor Living liderou o investimento europeu em 2025 com €53 bilhões.\u003C\u002Fli>\n\u003Cli>A diretiva europeia 2024\u002F1275 exige edifícios novos de emissão zero até 2030, favorecendo principals localmente inseridos.\u003C\u002Fli>\n\u003Cli>Investidores demandam cada vez mais estruturas diretas e de coinvestimento em vez de fundos blind-pool.\u003C\u002Fli>\n\u003Cli>O plano do Porto de ampliar habitação pública de 2% para 10% até 2030 exemplifica oportunidades que exigem fluência público-privada.\u003C\u002Fli>\n\u003C\u002Ful>\n","Lisa Bennewitz e principals do imobiliário europeu | GRI","lisa bennewitz, pedro baganha, gri imobiliário, gri club, investimento imobiliário europeu, mercados de capitais, round hill capital, setor living europa","Análise de Lisa Bennewitz, Pedro Baganha e os connector-principals emergentes que redefinem a alocação de capital institucional no imobiliário europeu. €241 bi investidos em 2025, com crescimento de 16% projetado para 2026.",{"code":18},{"id":1480,"newsId":1447,"languageId":5,"title":1481,"subtitle":1482,"content":1483,"summary":1484,"takeaways":1485,"seoTagConversionId":8,"seoTag":8,"seoTitle":1486,"seoKeywords":1487,"seoDescription":1488,"seoAbstract":8,"seoImage":1466,"createdAt":1455,"updatedAt":8,"language":1489},3764,"Lisa Bennewitz y los principals emergentes que redefinen la asignación de capital inmobiliario en Europa","De los mercados de capitales de Alemania a las ambiciones de vivienda de Oporto, una nueva generación de connector-principals redefine los flujos institucionale","\u003Cp>La inversión inmobiliaria europea alcanzó los €241.000 millones en 2025, un 13% más que el año anterior, según CBRE. Detrás de esa cifra se esconde un cambio estructural en cómo el capital llega a los mercados inmobiliarios del continente. Una generación emergente de principals — profesionales que combinan experiencia en originación de operaciones con profundas redes institucionales — desempeña un papel cada vez más decisivo en la dirección de los flujos transfronterizos. Entre ellos, Lisa Bennewitz y Pedro Baganha representan dos arquetipos distintos pero complementarios del connector-principal que hoy configura el panorama de inversión europeo.\u003C\u002Fp>\u003Cp>La recuperación en los volúmenes de transacciones marca un punto de inflexión tras varios trimestres de repricing y despliegue cauteloso. Savills prevé que los volúmenes de inversión inmobiliaria europea crezcan alrededor del 16% en 2026, seguidos de un crecimiento del 17% en 2027, lo que señala que la recuperación actual tiene impulso estructural y no es una anomalía puntual. Solo en el primer trimestre de 2026, se espera que los volúmenes alcancen aproximadamente €52.000 millones, un aumento interanual del 6%, según Savills. En este entorno, los profesionales capaces de conectar fuentes de capital, plataformas operativas y acceso regulatorio ejercen una influencia desproporcionada sobre dónde y cómo se despliega el dinero.\u003C\u002Fp>\u003Ch2>¿Quién es Lisa Bennewitz y por qué es relevante para los mercados de capitales europeos?\u003C\u002Fh2>\u003Cp>Lisa Bennewitz ocupa el cargo de Head of Capital Markets, Germany en Round Hill Capital, una de las gestoras de inversión inmobiliaria transfronteriza más activas de Europa. A lo largo de su carrera, Bennewitz ha asesorado en más de €50.000 millones en transacciones globales, según Round Hill Capital. Ese volumen de actividad la sitúa entre las profesionales de mercados de capitales más experimentadas del mercado alemán actual.\u003C\u002Fp>\u003Cp>Alemania sigue siendo el mayor mercado inmobiliario nacional de Europa continental, y sus mercados de capitales funcionan como puerta de entrada para inversores institucionales globales que buscan exposición a la zona euro. El rol de Bennewitz en Round Hill Capital la posiciona en la intersección de varias tendencias importantes: el creciente apetito de fuentes globales de capital por la inversión directa como principal en el inmobiliario europeo, la demanda de derechos de coinversión y asociaciones locales, y la creciente complejidad del cumplimiento regulatorio entre jurisdicciones.\u003C\u002Fp>\u003Cp>El paso de compromisos pasivos como limited partner a la inversión directa como principal es uno de los cambios más trascendentales en la formación de capital inmobiliario europeo en los últimos años. Los inversores globales ya no se conforman con asignar capital a través de vehículos blind-pool y esperar informes trimestrales. Quieren un asiento en la mesa, derechos de co-underwriting y relaciones con los principals que originan y ejecutan operaciones sobre el terreno. Profesionales como Bennewitz, que combinan profundidad en asesoría transaccional con supervisión de mercados de capitales a nivel de plataforma, funcionan como nodos críticos en esta arquitectura en evolución.\u003C\u002Fp>\u003Cp>El sector Living representó la mayor proporción de la actividad inversora europea en 2025, con volúmenes que alcanzaron los €53.000 millones, según CBRE. Round Hill Capital ha mantenido históricamente una exposición significativa a los sectores residencial y living en toda Europa, lo que hace que el liderazgo de Bennewitz en mercados de capitales sea particularmente relevante a medida que los asignadores institucionales aumentan su ponderación hacia vivienda, alojamiento estudiantil y activos multifamily.\u003C\u002Fp>\u003Ch2>¿Qué papel desempeña Pedro Baganha en la transformación inmobiliaria de Portugal?\u003C\u002Fh2>\u003Cp>Mientras Bennewitz opera a nivel de mercados de capitales institucionales en Alemania, Pedro Baganha representa una dimensión diferente pero igualmente importante del modelo connector-principal: la intersección entre políticas públicas, desarrollo urbano y despliegue de capital privado.\u003C\u002Fp>\u003Cp>Oporto pretende aumentar su oferta de vivienda pública del 2% al 10% para 2030, impulsado por asociaciones público-privadas, según informaciones del GRI Institute e Iberian Property. Baganha ha sido una figura central en el avance de esta agenda, trabajando en el nexo entre la ambición municipal y la ejecución del sector privado. La escala del objetivo habitacional de Oporto — un aumento de cinco veces en el parque de vivienda pública en una década — exige precisamente el tipo de principal capaz de traducir objetivos políticos en estructuras invertibles.\u003C\u002Fp>\u003Cp>El entorno regulatorio más amplio de Portugal está evolucionando para respaldar esta ambición. El Simplex Urbanístico, una iniciativa legislativa destinada a simplificar y acelerar los procesos de licencia urbanística para el desarrollo inmobiliario y la construcción, está diseñado para aliviar los cuellos de botella de oferta que han restringido la entrega de viviendas en las ciudades portuguesas. Para los inversores institucionales que evalúan exposición ibérica, la combinación de permisos simplificados y ambiciosos objetivos municipales de vivienda crea una tesis de inversión más legible que la disponible hace apenas dos años.\u003C\u002Fp>\u003Cp>La importancia de Baganha va más allá de cualquier proyecto o iniciativa política individual. Ejemplifica una categoría de principal cuyo valor reside en la capacidad de convocar a partes interesadas de los sectores público y privado, traduciendo el acceso regulatorio en flujo de operaciones y convirtiendo mandatos políticos en oportunidades de despliegue de capital. A medida que las ciudades europeas dependen cada vez más de asociaciones público-privadas para abordar la escasez de vivienda, los principals con esta doble fluidez se convierten en intermediarios esenciales.\u003C\u002Fp>\u003Ch2>El modelo connector-principal y la nueva arquitectura del deal flow europeo\u003C\u002Fh2>\u003Cp>La aparición de los connector-principals refleja un cambio estructural más profundo en el funcionamiento de los mercados inmobiliarios europeos. El modelo tradicional, en el que el capital fluía a través de un número relativamente reducido de gestores de fondos que controlaban el acceso a los pipelines de operaciones, está dando paso a una arquitectura más interconectada. En este modelo, los principals capaces de ensamblar capital stacks a medida, navegar marcos regulatorios y mantener relaciones de confianza tanto con asignadores como con operadores detentan una influencia desproporcionada.\u003C\u002Fp>\u003Cp>Este cambio es visible en las actividades de convocatoria del GRI Institute, donde la composición de los participantes refleja cada vez más la primacía de los principals sobre las plataformas. Altos responsables de toma de decisiones de fondos de pensiones, vehículos soberanos, family offices y compañías de seguros asisten a eventos GRI para construir relaciones directas con los profesionales que originan y estructuran transacciones, en lugar de simplemente evaluar productos de fondos. El énfasis en el engagement entre pares, sello distintivo del modelo GRI Club, refleja la tendencia más amplia del mercado hacia la desintermediación y el acceso a nivel de principal.\u003C\u002Fp>\u003Cp>El panorama regulatorio añade mayor complejidad y, por tanto, mayor valor a los principals que pueden navegarlo. La Directiva (UE) 2024\u002F1275, la Directiva revisada de Eficiencia Energética de los Edificios, encamina al sector de la edificación hacia la descarbonización total para 2050 y exige que todos los edificios nuevos sean de cero emisiones para 2030. La directiva entró en vigor el 28 de mayo de 2024 y debe transponerse a la legislación nacional antes del 29 de mayo de 2026. Para los inversores transfronterizos, esto crea un mosaico de plazos de implementación y requisitos de cumplimiento que demandan experiencia local. Los principals integrados en mercados específicos — ya sea Alemania, Portugal u otros — se convierten en guías indispensables en este terreno regulatorio.\u003C\u002Fp>\u003Cp>Las implicaciones para la asignación de capital son significativas. Los inversores que despliegan capital en el inmobiliario europeo en 2026 y 2027 se enfrentan a un mercado que simultáneamente se recupera en términos de volumen y se vuelve más exigente en términos estructurales. La combinación de una actividad transaccional creciente, una regulación ambiental más estricta y las preferencias evolutivas de los inversores por el engagement directo significa que la calidad de las relaciones con principals se está volviendo tan importante como la calidad del análisis de activos.\u003C\u002Fp>\u003Ch2>¿Cómo moldearán los flujos de capital liderados por principals el inmobiliario europeo hasta 2027?\u003C\u002Fh2>\u003Cp>La trayectoria es clara. Con Savills proyectando un crecimiento acumulado de más del 30% en los volúmenes de inversión europeos a lo largo de 2026 y 2027, el volumen de capital que busca despliegue se expandirá sustancialmente. La cuestión es cómo se intermediará ese capital.\u003C\u002Fp>\u003Cp>Tres dinámicas definirán la respuesta. Primero, el cambio continuo hacia estructuras de inversión directa y coinversión elevará a los principals que puedan ofrecer acceso propietario a operaciones y credibilidad operativa. Segundo, la carga regulatoria impuesta por directivas como la EPBD creará barreras de entrada para inversores sin redes locales profundas, concentrando aún más la influencia entre principals bien conectados. Tercero, la experiencia sectorial específica — particularmente en el sector Living, que lideró los volúmenes de inversión europeos en 2025 — diferenciará a los principals capaces de originar y ejecutar en clases de activos de alta demanda.\u003C\u002Fp>\u003Cp>Principals como Lisa Bennewitz y Pedro Baganha son representativos de una cohorte más amplia que está reconfigurando la capa de intermediación del inmobiliario europeo. Su relevancia es función de la creciente complejidad del mercado: más capital persiguiendo activos más regulados en más jurisdicciones, con inversores que exigen más transparencia y más control.\u003C\u002Fp>\u003Cp>Para los asignadores institucionales, la implicación es directa. Comprender quiénes son los principals, en qué redes operan y qué acceso regulatorio y de mercado proporcionan es ahora un componente central de la due diligence. Los días en que la asignación inmobiliaria europea podía reducirse a seleccionar un gestor de fondos y una añada están quedando atrás. En su lugar hay un panorama donde las relaciones con principals determinan tanto el acceso como el alpha.\u003C\u002Fp>\u003Cp>El GRI Institute continúa mapeando estas redes a través de sus encuentros en formato club, proporcionando a los miembros acceso directo a los principals y tomadores de decisiones que impulsan los flujos de capital inmobiliario europeo. A medida que el mercado entra en su próxima fase de crecimiento, la capacidad de identificar y relacionarse con los principals adecuados separará a los asignadores con mejor desempeño del resto.\u003C\u002Fp>","El inmobiliario europeo experimenta un cambio estructural en la intermediación de capital. Una nueva generación de \"connector-principals\" — ejemplificada por Lisa Bennewitz (Head of Capital Markets, Germany en Round Hill Capital) y Pedro Baganha (agenda de vivienda de Oporto) — sustituye la intermediación tradicional por asignación directa basada en relaciones. Con volúmenes proyectados a crecer más del 30% hasta 2027, regulación ESG más estricta y el sector Living liderando con €53.000M en 2025, los inversores dependen cada vez más de principals con acceso regulatorio local y redes institucionales.","\u003Cul>\n\u003Cli>La inversión inmobiliaria europea alcanzó €241.000M en 2025 (+13%), con crecimiento acumulado superior al 30% proyectado hasta 2027.\u003C\u002Fli>\n\u003Cli>Los "connector-principals" que conectan capital institucional, originación local y experiencia regulatoria desplazan la intermediación tradicional de gestores de fondos.\u003C\u002Fli>\n\u003Cli>El sector Living lideró la inversión europea en 2025 con €53.000M.\u003C\u002Fli>\n\u003Cli>La directiva UE 2024\u002F1275 exige edificios nuevos de cero emisiones para 2030, favoreciendo a principals localmente integrados.\u003C\u002Fli>\n\u003Cli>Los inversores demandan cada vez más estructuras directas y de coinversión frente a fondos blind-pool.\u003C\u002Fli>\n\u003Cli>El plan de Oporto de ampliar la vivienda pública del 2% al 10% para 2030 ejemplifica oportunidades que requieren fluidez público-privada.\u003C\u002Fli>\n\u003C\u002Ful>\n","Lisa Bennewitz y principals del inmobiliario europeo | GRI","lisa bennewitz, pedro baganha, gri inmobiliario, gri club, inversión inmobiliaria europa, mercados de capitales, round hill capital, sector living europa","Análisis de Lisa Bennewitz, Pedro Baganha y los connector-principals emergentes que redefinen la asignación de capital institucional en el inmobiliario europeo. €241.000M invertidos en 2025, con crecimiento del 16% previsto para 2026.",{"code":23},{"id":25,"color":27,"translations":1491},[1492,1494,1496],{"title":26,"slug":30,"language":1493},{"code":13},{"title":37,"slug":38,"language":1495},{"code":18},{"title":33,"slug":34,"language":1497},{"code":23},[1499,1507],{"id":65,"label":1231,"translations":1500},[1501,1503,1505],{"label":1231,"slug":1242,"language":1502},{"code":13},{"label":1245,"slug":1246,"language":1504},{"code":18},{"label":1249,"slug":1250,"language":1506},{"code":23},{"id":136,"label":1051,"translations":1508},[1509,1511,1513],{"label":1051,"slug":1062,"language":1510},{"code":13},{"label":1065,"slug":1066,"language":1512},{"code":18},{"label":1069,"slug":1070,"language":1514},{"code":23},[1516,1519,1521,1523,1526,1529,1531],{"name":356,"enName":356,"ptName":1517,"iso2":1518},"Alemanha","DE",{"name":797,"enName":797,"ptName":797,"iso2":1520},"ES",{"name":336,"enName":336,"ptName":336,"iso2":1522},"FR",{"name":885,"enName":885,"ptName":1524,"iso2":1525},"Reino Unido","GB",{"name":452,"enName":452,"ptName":1527,"iso2":1528},"Itália","IT",{"name":611,"enName":611,"ptName":611,"iso2":1530},"NL",{"name":689,"enName":689,"ptName":689,"iso2":1532},"PT",[1534],{"name":1535,"slug":1536,"image":8,"order":115},"GRI Institute","gri-institute",{"en":1538,"pt-BR":1539,"es":1540},"\u002Freal-estate\u002Flisa-bennewitz-pedro-baganha-european-real-estate-principals-capital-allocation","\u002Fmercado-imobiliario\u002Flisa-bennewitz-pedro-baganha-european-real-estate-principals-capital-allocation","\u002Fmercado-inmobiliario\u002Flisa-bennewitz-pedro-baganha-european-real-estate-principals-capital-allocation",[1542,1543,1544,1545,1546,1547],"Infra Brazil","Infra Latam","Real Estate Brazil","Real Estate Europe","Real Estate India","Real Estate Latam"]