[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fWJDsHAQ6CLoVvTVD9A3h5b3OQINtZN4Lgf5KRFFTPPo":3,"$f_iPoKLJTmna0hysc3JyPQYvKVRe6ciD7LTGcnXYUH3Q":40,"$fTe5HE0Z1vo2J86ZJWWdF8KMsEsay4hhvzos2gbGNccM":566,"$fryYeaiUpOmOyO-M-1wJvUMgg18sO3YZOtKqSQHkld2o":1446,"$fp68hrMLSAJv7mcNXQMg9VWYpfosTWfsdtoH90OP7mmg":1549},[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},[41,65,86,108,131,154,177,209,238,267,296,319,342,365,388,410,433,451,474,497,520,543],{"id":42,"label":43,"segment":44,"translations":52},11,"Basic sanitation",{"id":5,"title":6,"translations":45},[46,48,50],{"title":6,"slug":11,"language":47},{"code":13},{"title":15,"slug":16,"language":49},{"code":18},{"title":20,"slug":21,"language":51},{"code":23},[53,57,61],{"label":54,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":55,"language":56},"Basic Sanitation","basic-sanitation",{"code":13},{"label":58,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":59,"language":60},"Saneamento Básico","saneamento-basico",{"code":18},{"label":62,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":63,"language":64},"Saneamiento Básico","saneamiento-basico",{"code":23},{"id":66,"label":67,"segment":68,"translations":76},28,"Data Center",{"id":25,"title":26,"translations":69},[70,72,74],{"title":26,"slug":30,"language":71},{"code":13},{"title":33,"slug":34,"language":73},{"code":23},{"title":37,"slug":38,"language":75},{"code":18},[77,81,84],{"label":78,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":79,"language":80},"Data Centres","",{"code":13},{"label":82,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":79,"language":83},"Data Centers",{"code":18},{"label":82,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":79,"language":85},{"code":23},{"id":87,"label":88,"segment":89,"translations":97},12,"Energy",{"id":5,"title":6,"translations":90},[91,93,95],{"title":6,"slug":11,"language":92},{"code":13},{"title":15,"slug":16,"language":94},{"code":18},{"title":20,"slug":21,"language":96},{"code":23},[98,101,105],{"label":88,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":99,"language":100},"energy",{"code":13},{"label":102,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":103,"language":104},"Energia","energia",{"code":18},{"label":106,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":103,"language":107},"Energía",{"code":23},{"id":109,"label":110,"segment":111,"translations":119},16,"Environmental Assets",{"id":5,"title":6,"translations":112},[113,115,117],{"title":6,"slug":11,"language":114},{"code":13},{"title":15,"slug":16,"language":116},{"code":18},{"title":20,"slug":21,"language":118},{"code":23},[120,123,127],{"label":110,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":121,"language":122},"environmental-assets",{"code":13},{"label":124,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":125,"language":126},"Ativos Ambientais","ativos-ambientais",{"code":18},{"label":128,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":129,"language":130},"Activos Ambientales","activos-ambientales",{"code":23},{"id":132,"label":133,"segment":134,"translations":142},8,"ESG & Sustainability",{"id":25,"title":26,"translations":135},[136,138,140],{"title":26,"slug":30,"language":137},{"code":13},{"title":33,"slug":34,"language":139},{"code":23},{"title":37,"slug":38,"language":141},{"code":18},[143,146,150],{"label":133,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":144,"language":145},"esg-sustainability",{"code":13},{"label":147,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":148,"language":149},"ESG & Sustentabilidade","esg-sustentabilidade",{"code":18},{"label":151,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":152,"language":153},"ESG y Sostenibilidad","esg-y-sostenibilidad",{"code":23},{"id":155,"label":156,"segment":157,"translations":165},17,"Financing & Capital Markets",{"id":5,"title":6,"translations":158},[159,161,163],{"title":6,"slug":11,"language":160},{"code":13},{"title":15,"slug":16,"language":162},{"code":18},{"title":20,"slug":21,"language":164},{"code":23},[166,169,173],{"label":156,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":167,"language":168},"financing-capital-markets",{"code":13},{"label":170,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":171,"language":172},"Financiamento & Mercado de Capitais","financiamento-mercado-de-capitais",{"code":18},{"label":174,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":175,"language":176},"Financiación y Mercados de Capitales","financiacion-y-mercados-de-capitales",{"code":23},{"id":178,"label":179,"segment":180,"translations":191},25,"GRI Analisa",{"id":181,"title":182,"translations":183},100,"Latin America",[184,187,189],{"title":182,"slug":185,"language":186},"latin-america",{"code":13},{"title":182,"slug":185,"language":188},{"code":18},{"title":182,"slug":185,"language":190},{"code":23},[192,198,203],{"label":193,"title":194,"subtitle":195,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":196,"language":197},"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":179,"title":199,"subtitle":200,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":201,"language":202},"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":204,"title":205,"subtitle":206,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":207,"language":208},"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":210,"label":211,"segment":212,"translations":220},23,"GRI Antecipa",{"id":181,"title":182,"translations":213},[214,216,218],{"title":182,"slug":185,"language":215},{"code":13},{"title":182,"slug":185,"language":217},{"code":18},{"title":182,"slug":185,"language":219},{"code":23},[221,227,232],{"label":222,"title":223,"subtitle":224,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":225,"language":226},"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":211,"title":228,"subtitle":229,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":230,"language":231},"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":233,"title":234,"subtitle":235,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":236,"language":237},"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":239,"label":240,"segment":241,"translations":249},24,"GRI Monitora",{"id":181,"title":182,"translations":242},[243,245,247],{"title":182,"slug":185,"language":244},{"code":13},{"title":182,"slug":185,"language":246},{"code":18},{"title":182,"slug":185,"language":248},{"code":23},[250,256,261],{"label":251,"title":252,"subtitle":253,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":254,"language":255},"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":240,"title":257,"subtitle":258,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":259,"language":260},"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":262,"title":263,"subtitle":264,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":265,"language":266},"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":268,"label":269,"segment":270,"translations":278},21,"GRI Propõe",{"id":181,"title":182,"translations":271},[272,274,276],{"title":182,"slug":185,"language":273},{"code":13},{"title":182,"slug":185,"language":275},{"code":18},{"title":182,"slug":185,"language":277},{"code":23},[279,285,290],{"label":280,"title":281,"subtitle":282,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":283,"language":284},"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":269,"title":286,"subtitle":287,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":288,"language":289},"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":291,"title":292,"subtitle":293,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":294,"language":295},"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":297,"label":298,"segment":299,"translations":307},5,"Hotel & Hospitality",{"id":25,"title":26,"translations":300},[301,303,305],{"title":26,"slug":30,"language":302},{"code":13},{"title":33,"slug":34,"language":304},{"code":23},{"title":37,"slug":38,"language":306},{"code":18},[308,311,315],{"label":298,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":309,"language":310},"hotel-hospitality",{"code":13},{"label":312,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":313,"language":314},"Hotelaria & Hospitalidade","hotelaria-hospitalidade",{"code":18},{"label":316,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":317,"language":318},"Hotelería y Hospitalidad","hoteleria-y-hospitalidad",{"code":23},{"id":320,"label":321,"segment":322,"translations":330},4,"Industrial & Logistics",{"id":25,"title":26,"translations":323},[324,326,328],{"title":26,"slug":30,"language":325},{"code":13},{"title":33,"slug":34,"language":327},{"code":23},{"title":37,"slug":38,"language":329},{"code":18},[331,334,338],{"label":321,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":332,"language":333},"industrial-logistics",{"code":13},{"label":335,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":336,"language":337},"Industrial & Logística","industrial-logistica",{"code":18},{"label":339,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":340,"language":341},"Industrial y Logístico","industrial-y-logistico",{"code":23},{"id":343,"label":344,"segment":345,"translations":353},6,"Investments & Finance",{"id":25,"title":26,"translations":346},[347,349,351],{"title":26,"slug":30,"language":348},{"code":13},{"title":33,"slug":34,"language":350},{"code":23},{"title":37,"slug":38,"language":352},{"code":18},[354,357,361],{"label":344,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":355,"language":356},"investments-finance",{"code":13},{"label":358,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":359,"language":360},"Investimentos & Fundos Imobiliários","investimentos-e-fundos-imobiliarios",{"code":18},{"label":362,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":363,"language":364},"Inversiones y Fondos Inmobiliarios","fondos-inmobiliarios-y-financiacion",{"code":23},{"id":366,"label":367,"segment":368,"translations":376},9,"Legal\u002FCorporate\u002FGeopolitics",{"id":25,"title":26,"translations":369},[370,372,374],{"title":26,"slug":30,"language":371},{"code":13},{"title":33,"slug":34,"language":373},{"code":23},{"title":37,"slug":38,"language":375},{"code":18},[377,380,384],{"label":367,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":378,"language":379},"legal-corporate-geopolitics",{"code":13},{"label":381,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":382,"language":383},"Legislação & Jurídico","legislacao-juridico",{"code":18},{"label":385,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":386,"language":387},"Legislación y Legal","legislacion-y-legal",{"code":23},{"id":25,"label":389,"segment":390,"translations":398},"Offices",{"id":25,"title":26,"translations":391},[392,394,396],{"title":26,"slug":30,"language":393},{"code":13},{"title":33,"slug":34,"language":395},{"code":23},{"title":37,"slug":38,"language":397},{"code":18},[399,402,406],{"label":389,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":400,"language":401},"offices",{"code":13},{"label":403,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":404,"language":405},"Lajes Corporativas","lajes-corporativas",{"code":18},{"label":407,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":408,"language":409},"Oficinas","oficinas",{"code":23},{"id":411,"label":412,"segment":413,"translations":421},1,"Residential & BTR",{"id":25,"title":26,"translations":414},[415,417,419],{"title":26,"slug":30,"language":416},{"code":13},{"title":33,"slug":34,"language":418},{"code":23},{"title":37,"slug":38,"language":420},{"code":18},[422,425,429],{"label":412,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":423,"language":424},"residential-btr",{"code":13},{"label":426,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":427,"language":428},"Residencial & BTR","residencial-btr",{"code":18},{"label":430,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":431,"language":432},"Residencial y Multifamily","residencial-y-multifamily",{"code":23},{"id":5,"label":434,"segment":435,"translations":443},"Shopping & Retail",{"id":25,"title":26,"translations":436},[437,439,441],{"title":26,"slug":30,"language":438},{"code":13},{"title":33,"slug":34,"language":440},{"code":23},{"title":37,"slug":38,"language":442},{"code":18},[444,447,449],{"label":434,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":445,"language":446},"shopping-retail",{"code":13},{"label":434,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":445,"language":448},{"code":18},{"label":434,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":445,"language":450},{"code":23},{"id":452,"label":453,"segment":454,"translations":462},15,"Social Infrastructure",{"id":5,"title":6,"translations":455},[456,458,460],{"title":6,"slug":11,"language":457},{"code":13},{"title":15,"slug":16,"language":459},{"code":18},{"title":20,"slug":21,"language":461},{"code":23},[463,466,470],{"label":453,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":464,"language":465},"social-infrastructure",{"code":13},{"label":467,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":468,"language":469},"Infraestrutura Social","infraestrutura-socia",{"code":18},{"label":471,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":472,"language":473},"Infraestructura Social","infraestructura-social",{"code":23},{"id":475,"label":476,"segment":477,"translations":485},7,"Technology & Innovation",{"id":25,"title":26,"translations":478},[479,481,483],{"title":26,"slug":30,"language":480},{"code":13},{"title":33,"slug":34,"language":482},{"code":23},{"title":37,"slug":38,"language":484},{"code":18},[486,489,493],{"label":476,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":487,"language":488},"technology-innovation",{"code":13},{"label":490,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":491,"language":492},"Tecnologia & Inovação","tecnologia-inovacao",{"code":18},{"label":494,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":495,"language":496},"Tecnología e Innovación","tecnologia-y-innovacion",{"code":23},{"id":498,"label":499,"segment":500,"translations":508},13,"Telecommunications",{"id":5,"title":6,"translations":501},[502,504,506],{"title":6,"slug":11,"language":503},{"code":13},{"title":15,"slug":16,"language":505},{"code":18},{"title":20,"slug":21,"language":507},{"code":23},[509,512,516],{"label":499,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":510,"language":511},"telecommunications",{"code":13},{"label":513,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":514,"language":515},"Telecomunicações","telecomunicacoes",{"code":18},{"label":517,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":518,"language":519},"Telecomunicaciones","telecomunicaciones",{"code":23},{"id":521,"label":522,"segment":523,"translations":531},10,"Transport & Logistics",{"id":5,"title":6,"translations":524},[525,527,529],{"title":6,"slug":11,"language":526},{"code":13},{"title":15,"slug":16,"language":528},{"code":18},{"title":20,"slug":21,"language":530},{"code":23},[532,535,539],{"label":522,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":533,"language":534},"transport-logistics",{"code":13},{"label":536,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":537,"language":538},"Transportes & Logística","transportes-logistica",{"code":18},{"label":540,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":541,"language":542},"Transporte y Logística","transporte-y-logistica",{"code":23},{"id":544,"label":545,"segment":546,"translations":554},14,"Urban Mobility",{"id":5,"title":6,"translations":547},[548,550,552],{"title":6,"slug":11,"language":549},{"code":13},{"title":15,"slug":16,"language":551},{"code":18},{"title":20,"slug":21,"language":553},{"code":23},[555,558,562],{"label":545,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":556,"language":557},"urban-mobility",{"code":13},{"label":559,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":560,"language":561},"Mobilidade Urbana","mobilidade-urbana",{"code":18},{"label":563,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":564,"language":565},"Movilidad Urbana","movilidad-urbana",{"code":23},[567,570,573,576,580,584,588,591,595,599,603,606,609,613,616,619,622,625,629,633,636,639,643,646,649,652,656,660,664,668,671,674,677,680,684,687,691,694,697,700,704,708,711,715,719,722,726,729,732,735,738,742,746,750,754,758,762,766,770,773,777,781,785,789,792,796,799,802,805,809,813,817,821,825,828,832,835,839,842,844,847,851,854,857,861,864,868,872,876,880,884,887,891,895,899,903,907,911,914,916,920,924,927,931,935,938,942,946,950,953,957,960,964,967,971,974,978,981,984,988,992,995,998,1002,1006,1010,1013,1017,1020,1024,1028,1032,1036,1040,1043,1047,1051,1054,1058,1060,1063,1067,1069,1072,1075,1079,1083,1087,1091,1095,1097,1101,1104,1108,1111,1115,1118,1122,1125,1129,1132,1136,1139,1142,1146,1149,1152,1155,1159,1162,1165,1168,1172,1176,1180,1183,1186,1189,1193,1197,1200,1204,1206,1209,1212,1216,1219,1223,1227,1231,1234,1238,1241,1244,1247,1251,1254,1258,1261,1264,1268,1271,1273,1277,1281,1285,1289,1292,1295,1298,1301,1304,1306,1309,1313,1317,1319,1323,1326,1328,1332,1336,1340,1344,1347,1351,1354,1357,1360,1364,1367,1370,1374,1377,1380,1383,1387,1390,1392,1395,1397,1401,1405,1409,1412,1415,1419,1422,1424,1427,1431,1433,1437,1441,1443],{"id":5,"name":568,"phoneCode":569},"Afghanistan",93,{"id":571,"name":572,"phoneCode":411},189,"Åland Islands",{"id":320,"name":574,"phoneCode":575},"Albania",355,{"id":577,"name":578,"phoneCode":579},44,"Algeria",213,{"id":581,"name":582,"phoneCode":583},187,"American Samoa",1684,{"id":585,"name":586,"phoneCode":587},182,"Andorra",376,{"id":343,"name":589,"phoneCode":590},"Angola",244,{"id":592,"name":593,"phoneCode":594},184,"Anguilla",1264,{"id":596,"name":597,"phoneCode":598},186,"Antartica",672,{"id":600,"name":601,"phoneCode":602},183,"Antigua and Barbuda",1268,{"id":475,"name":604,"phoneCode":605},"Argentina",54,{"id":297,"name":607,"phoneCode":608},"Armenia",374,{"id":610,"name":611,"phoneCode":612},188,"Aruba",297,{"id":366,"name":614,"phoneCode":615},"Australia",61,{"id":132,"name":617,"phoneCode":618},"Austria",43,{"id":521,"name":620,"phoneCode":621},"Azerbaijan",994,{"id":268,"name":623,"phoneCode":624},"Bahamas",1242,{"id":626,"name":627,"phoneCode":628},191,"Bahrain",973,{"id":630,"name":631,"phoneCode":632},204,"Bailiwick of Guernsey",0,{"id":634,"name":635,"phoneCode":632},212,"Bailiwick of Jersey",{"id":87,"name":637,"phoneCode":638},"Bangladesh",880,{"id":640,"name":641,"phoneCode":642},190,"Barbados",1246,{"id":498,"name":644,"phoneCode":645},"Belgium",32,{"id":178,"name":647,"phoneCode":648},"Belize",501,{"id":155,"name":650,"phoneCode":651},"Benin",229,{"id":653,"name":654,"phoneCode":655},193,"Bermuda",1441,{"id":657,"name":658,"phoneCode":659},22,"Bhutan",975,{"id":661,"name":662,"phoneCode":663},19,"Bolivia",591,{"id":665,"name":666,"phoneCode":667},185,"Bonaire",599,{"id":669,"name":670,"phoneCode":667},256,"Bonaire, Sint Eustatius and Saba",{"id":42,"name":672,"phoneCode":673},"Bosna i Hercegovina",387,{"id":210,"name":675,"phoneCode":676},"Botswana",267,{"id":678,"name":679,"phoneCode":632},194,"Bouvet Island",{"id":681,"name":682,"phoneCode":683},20,"Brazil",55,{"id":685,"name":686,"phoneCode":411},211,"British Indian Ocean Territory",{"id":688,"name":689,"phoneCode":690},18,"Brunei",673,{"id":452,"name":692,"phoneCode":693},"Bulgaria",359,{"id":544,"name":695,"phoneCode":696},"Burkina Faso",226,{"id":109,"name":698,"phoneCode":699},"Burundi",257,{"id":701,"name":702,"phoneCode":703},86,"Cambodia",855,{"id":705,"name":706,"phoneCode":707},33,"Cameroon",237,{"id":709,"name":710,"phoneCode":411},26,"Canada",{"id":712,"name":713,"phoneCode":714},197,"Cape Verde",238,{"id":716,"name":717,"phoneCode":718},216,"Cayman Islands",1345,{"id":66,"name":720,"phoneCode":721},"Central African Rep.",236,{"id":723,"name":724,"phoneCode":725},155,"Chad",235,{"id":645,"name":727,"phoneCode":728},"Chile",56,{"id":730,"name":731,"phoneCode":701},34,"China",{"id":733,"name":734,"phoneCode":615},198,"Christmas Island",{"id":736,"name":737,"phoneCode":615},195,"Cocos (Keeling) Islands",{"id":739,"name":740,"phoneCode":741},35,"Colombia",57,{"id":743,"name":744,"phoneCode":745},214,"Comoros",269,{"id":747,"name":748,"phoneCode":749},29,"Congo",242,{"id":751,"name":752,"phoneCode":753},196,"Cook Islands",682,{"id":755,"name":756,"phoneCode":757},36,"Costa Rica",506,{"id":759,"name":760,"phoneCode":761},31,"Côte d`Ivoire",225,{"id":763,"name":764,"phoneCode":765},70,"Croatia",385,{"id":767,"name":768,"phoneCode":769},37,"Cuba",53,{"id":771,"name":772,"phoneCode":411},253,"Curaçao",{"id":774,"name":775,"phoneCode":776},38,"Cyprus",357,{"id":778,"name":779,"phoneCode":780},39,"Czech Rep.",420,{"id":782,"name":783,"phoneCode":784},27,"Dem. Rep. Congo",243,{"id":786,"name":787,"phoneCode":788},42,"Denmark",45,{"id":790,"name":791,"phoneCode":771},41,"Djibouti",{"id":793,"name":794,"phoneCode":795},199,"Dominica",1767,{"id":618,"name":797,"phoneCode":798},"Dominican Republic",1809,{"id":788,"name":800,"phoneCode":801},"Ecuador",593,{"id":803,"name":804,"phoneCode":681},47,"Egypt",{"id":806,"name":807,"phoneCode":808},152,"El Salvador",503,{"id":810,"name":811,"phoneCode":812},63,"Eq. Guinea",240,{"id":814,"name":815,"phoneCode":816},49,"Eritrea",291,{"id":818,"name":819,"phoneCode":820},46,"Estonia",372,{"id":822,"name":823,"phoneCode":824},51,"Ethiopia",251,{"id":605,"name":826,"phoneCode":827},"Falkland Is.",500,{"id":829,"name":830,"phoneCode":831},201,"Faroe Islands",298,{"id":769,"name":833,"phoneCode":834},"Fiji",679,{"id":836,"name":837,"phoneCode":838},52,"Finland",358,{"id":840,"name":841,"phoneCode":632},156,"Fr. S. Antarctic Lands",{"id":683,"name":843,"phoneCode":705},"France",{"id":845,"name":846,"phoneCode":411},203,"French Guiana",{"id":848,"name":849,"phoneCode":850},231,"French Polynesia",689,{"id":728,"name":852,"phoneCode":853},"Gabon",241,{"id":615,"name":855,"phoneCode":856},"Gambia",220,{"id":858,"name":859,"phoneCode":860},58,"Georgia",995,{"id":862,"name":863,"phoneCode":814},40,"Germany",{"id":865,"name":866,"phoneCode":867},59,"Ghana",233,{"id":869,"name":870,"phoneCode":871},205,"Gibraltar",350,{"id":873,"name":874,"phoneCode":875},64,"Greece",30,{"id":877,"name":878,"phoneCode":879},60,"Greenland",299,{"id":881,"name":882,"phoneCode":883},202,"Grenada",1473,{"id":885,"name":886,"phoneCode":632},206,"Guadeloupe",{"id":888,"name":889,"phoneCode":890},208,"Guam",1671,{"id":892,"name":893,"phoneCode":894},65,"Guatemala",502,{"id":896,"name":897,"phoneCode":898},62,"Guinea",224,{"id":900,"name":901,"phoneCode":902},66,"Guinea-Bissau",245,{"id":904,"name":905,"phoneCode":906},67,"Guyana",592,{"id":908,"name":909,"phoneCode":910},71,"Haiti",509,{"id":912,"name":913,"phoneCode":632},209,"Heard and Mc Donald Islands",{"id":902,"name":915,"phoneCode":778},"Holy See (Vatican City State)",{"id":917,"name":918,"phoneCode":919},69,"Honduras",504,{"id":921,"name":922,"phoneCode":923},68,"Hong Kong",852,{"id":925,"name":926,"phoneCode":755},72,"Hungary",{"id":928,"name":929,"phoneCode":930},79,"Iceland",354,{"id":932,"name":933,"phoneCode":934},76,"India",91,{"id":936,"name":937,"phoneCode":896},73,"Indonesia",{"id":939,"name":940,"phoneCode":941},78,"Iran",98,{"id":943,"name":944,"phoneCode":945},77,"Iraq",964,{"id":947,"name":948,"phoneCode":949},74,"Ireland",353,{"id":951,"name":952,"phoneCode":577},210,"Isle of Man",{"id":954,"name":955,"phoneCode":956},75,"Israel",972,{"id":958,"name":959,"phoneCode":778},80,"Italy",{"id":961,"name":962,"phoneCode":963},81,"Jamaica",1876,{"id":965,"name":966,"phoneCode":961},83,"Japan",{"id":968,"name":969,"phoneCode":970},82,"Jordan",962,{"id":972,"name":973,"phoneCode":475},90,"Kazakhstan",{"id":975,"name":976,"phoneCode":977},84,"Kenya",254,{"id":579,"name":979,"phoneCode":980},"Kiribati",686,{"id":982,"name":983,"phoneCode":411},176,"Kosovo",{"id":985,"name":986,"phoneCode":987},89,"Kuwait",965,{"id":989,"name":990,"phoneCode":991},85,"Kyrgyzstan",996,{"id":934,"name":993,"phoneCode":994},"Laos",856,{"id":941,"name":996,"phoneCode":997},"Latvia",371,{"id":999,"name":1000,"phoneCode":1001},92,"Lebanon",961,{"id":1003,"name":1004,"phoneCode":1005},95,"Lesotho",266,{"id":1007,"name":1008,"phoneCode":1009},97,"Lëtzebuerg",352,{"id":1011,"name":1012,"phoneCode":848},94,"Liberia",{"id":1014,"name":1015,"phoneCode":1016},99,"Libya",218,{"id":1016,"name":1018,"phoneCode":1019},"Liechtenstein",423,{"id":1021,"name":1022,"phoneCode":1023},96,"Lithuania",370,{"id":1025,"name":1026,"phoneCode":1027},222,"Macau",853,{"id":1029,"name":1030,"phoneCode":1031},104,"Macedonia",389,{"id":1033,"name":1034,"phoneCode":1035},103,"Madagascar",261,{"id":1037,"name":1038,"phoneCode":1039},110,"Malawi",265,{"id":1041,"name":1042,"phoneCode":877},112,"Malaysia",{"id":1044,"name":1045,"phoneCode":1046},227,"Maldives",960,{"id":1048,"name":1049,"phoneCode":1050},105,"Mali",223,{"id":761,"name":1052,"phoneCode":1053},"Malta",356,{"id":1055,"name":1056,"phoneCode":1057},221,"Marshall Islands",692,{"id":898,"name":1059,"phoneCode":411},"Martinique",{"id":1061,"name":1062,"phoneCode":1025},108,"Mauritania",{"id":1064,"name":1065,"phoneCode":1066},109,"Mauritius",1664,{"id":696,"name":1065,"phoneCode":1068},230,{"id":824,"name":1070,"phoneCode":1071},"Mayotte",262,{"id":1073,"name":1074,"phoneCode":836},111,"Mexico",{"id":1076,"name":1077,"phoneCode":1078},200,"Micronesia, Federated States of",691,{"id":1080,"name":1081,"phoneCode":1082},101,"Moldova",373,{"id":1084,"name":1085,"phoneCode":1086},219,"Monaco",377,{"id":1088,"name":1089,"phoneCode":1090},107,"Mongolia",976,{"id":1092,"name":1093,"phoneCode":1094},102,"Montenegro",382,{"id":181,"name":1096,"phoneCode":634},"Morocco",{"id":1098,"name":1099,"phoneCode":1100},113,"Mozambique",258,{"id":1102,"name":1103,"phoneCode":1003},106,"Myanmar",{"id":1105,"name":1106,"phoneCode":1107},114,"Namibia",264,{"id":651,"name":1109,"phoneCode":1110},"Nauru",674,{"id":1112,"name":1113,"phoneCode":1114},121,"Nepal",977,{"id":1116,"name":1117,"phoneCode":759},119,"Netherlands",{"id":1119,"name":1120,"phoneCode":1121},115,"New Caledonia",687,{"id":1123,"name":1124,"phoneCode":873},122,"New Zealand",{"id":1126,"name":1127,"phoneCode":1128},118,"Nicaragua",505,{"id":1130,"name":1131,"phoneCode":1044},116,"Niger",{"id":1133,"name":1134,"phoneCode":1135},117,"Nigeria",234,{"id":1068,"name":1137,"phoneCode":1138},"Niue",683,{"id":1140,"name":1141,"phoneCode":411},228,"Norfolk Island",{"id":1143,"name":1144,"phoneCode":1145},87,"North Korea",850,{"id":1147,"name":1148,"phoneCode":411},175,"Northern Cyprus",{"id":1050,"name":1150,"phoneCode":1151},"Northern Mariana Islands",1670,{"id":1153,"name":1154,"phoneCode":803},120,"Norway",{"id":1156,"name":1157,"phoneCode":1158},123,"Oman",968,{"id":1160,"name":1161,"phoneCode":999},128,"Pakistan",{"id":1135,"name":1163,"phoneCode":1164},"Palau",680,{"id":1166,"name":1167,"phoneCode":411},131,"Palestine",{"id":1169,"name":1170,"phoneCode":1171},124,"Panama",507,{"id":1173,"name":1174,"phoneCode":1175},126,"Papua New Guinea",675,{"id":1177,"name":1178,"phoneCode":1179},133,"Paraguay",595,{"id":1181,"name":1182,"phoneCode":822},125,"Peru",{"id":1184,"name":1185,"phoneCode":810},127,"Philippines",{"id":867,"name":1187,"phoneCode":1188},"Pitcairn",870,{"id":1190,"name":1191,"phoneCode":1192},129,"Poland",48,{"id":1194,"name":1195,"phoneCode":1196},132,"Portugal",351,{"id":1198,"name":1199,"phoneCode":411},130,"Puerto Rico",{"id":1201,"name":1202,"phoneCode":1203},134,"Qatar",974,{"id":725,"name":1205,"phoneCode":632},"Reunion",{"id":1207,"name":1208,"phoneCode":862},135,"Romania",{"id":1210,"name":1211,"phoneCode":475},137,"Russia",{"id":1213,"name":1214,"phoneCode":1215},138,"Rwanda",250,{"id":1217,"name":1218,"phoneCode":411},151,"S. Sudan",{"id":1220,"name":1221,"phoneCode":1222},192,"Saint Barthélemy",590,{"id":1224,"name":1225,"phoneCode":1226},215,"Saint Kitts and Nevis",1869,{"id":1228,"name":1229,"phoneCode":1230},217,"Saint LUCIA",1758,{"id":856,"name":1232,"phoneCode":1233},"Saint Martin",1599,{"id":1235,"name":1236,"phoneCode":1237},246,"Saint Vincent and the Grenadines",1784,{"id":1215,"name":1239,"phoneCode":1240},"Samoa",685,{"id":714,"name":1242,"phoneCode":1243},"San Marino",378,{"id":1245,"name":1246,"phoneCode":1245},239,"Sao Tome and Principe",{"id":1248,"name":1249,"phoneCode":1250},139,"Saudi Arabia",966,{"id":1252,"name":1253,"phoneCode":1055},148,"Senegal",{"id":1255,"name":1256,"phoneCode":1257},136,"Serbia",381,{"id":721,"name":1259,"phoneCode":1260},"Seychelles",248,{"id":1262,"name":1259,"phoneCode":1263},144,290,{"id":1265,"name":1266,"phoneCode":1267},147,"Sierra Leone",232,{"id":1269,"name":1270,"phoneCode":892},143,"Singapore",{"id":977,"name":1272,"phoneCode":411},"Sint Maarten (Dutch part)",{"id":1274,"name":1275,"phoneCode":1276},146,"Slovakia",421,{"id":1278,"name":1279,"phoneCode":1280},145,"Slovenia",386,{"id":1282,"name":1283,"phoneCode":1284},140,"Solomon Is.",677,{"id":1286,"name":1287,"phoneCode":1288},149,"Somalia",252,{"id":1290,"name":1291,"phoneCode":411},177,"Somaliland",{"id":1293,"name":1294,"phoneCode":782},179,"South Africa",{"id":1296,"name":1297,"phoneCode":632},207,"South Georgia and the South Sandwich Islands",{"id":1299,"name":1300,"phoneCode":968},88,"South Korea",{"id":1302,"name":1303,"phoneCode":730},50,"Spain",{"id":569,"name":1305,"phoneCode":1011},"Sri Lanka",{"id":1267,"name":1307,"phoneCode":1308},"St. Pierre and Miquelon",508,{"id":1310,"name":1311,"phoneCode":1312},141,"Sudan",249,{"id":1314,"name":1315,"phoneCode":1316},150,"Suriname",597,{"id":707,"name":1318,"phoneCode":632},"Svalbard and Jan Mayen Islands",{"id":1320,"name":1321,"phoneCode":1322},154,"Swaziland",268,{"id":1324,"name":1325,"phoneCode":818},142,"Sweden",{"id":875,"name":1327,"phoneCode":790},"Switzerland",{"id":1329,"name":1330,"phoneCode":1331},153,"Syria",963,{"id":1333,"name":1334,"phoneCode":1335},165,"Taiwan",886,{"id":1337,"name":1338,"phoneCode":1339},159,"Tajikistan",992,{"id":1341,"name":1342,"phoneCode":1343},166,"Tanzania",255,{"id":1345,"name":1346,"phoneCode":900},158,"Thailand",{"id":1348,"name":1349,"phoneCode":1350},160,"Timor-Leste",670,{"id":1352,"name":1353,"phoneCode":1140},157,"Togo",{"id":853,"name":1355,"phoneCode":1356},"Tokelau",690,{"id":749,"name":1358,"phoneCode":1359},"Tonga",676,{"id":1361,"name":1362,"phoneCode":1363},164,"Trinidad and Tobago",1868,{"id":1365,"name":1366,"phoneCode":716},162,"Tunisia",{"id":1368,"name":1369,"phoneCode":972},163,"Türkiye",{"id":1371,"name":1372,"phoneCode":1373},161,"Turkmenistan",993,{"id":812,"name":1375,"phoneCode":1376},"Turks and Caicos Islands",1649,{"id":784,"name":1378,"phoneCode":1379},"Tuvalu",688,{"id":1381,"name":1382,"phoneCode":669},168,"Uganda",{"id":1384,"name":1385,"phoneCode":1386},167,"Ukraine",380,{"id":25,"name":1388,"phoneCode":1389},"United Arab Emirates",971,{"id":741,"name":1391,"phoneCode":577},"United Kingdom",{"id":1393,"name":1394,"phoneCode":411},169,"United States",{"id":590,"name":1396,"phoneCode":632},"United States Minor Outlying Islands",{"id":1398,"name":1399,"phoneCode":1400},170,"Uruguay",598,{"id":1402,"name":1403,"phoneCode":1404},171,"Uzbekistan",998,{"id":1406,"name":1407,"phoneCode":1408},174,"Vanuatu",678,{"id":1410,"name":1411,"phoneCode":858},172,"Venezuela",{"id":1413,"name":1414,"phoneCode":975},173,"Vietnam",{"id":1416,"name":1417,"phoneCode":1418},247,"Virgin Islands (British)",1284,{"id":1260,"name":1420,"phoneCode":1421},"Virgin Islands (U.S.)",1340,{"id":1192,"name":1423,"phoneCode":411},"W. Sahara",{"id":1312,"name":1425,"phoneCode":1426},"Wallis and Futuna Islands",681,{"id":1428,"name":1429,"phoneCode":1430},178,"Yemen",967,{"id":1343,"name":1432,"phoneCode":8},"Yugoslavia",{"id":1434,"name":1435,"phoneCode":1436},180,"Zambia",260,{"id":1438,"name":1439,"phoneCode":1440},181,"Zimbabwe",263,{"id":1288,"name":1442,"phoneCode":8},"Zona del Canal de Panamá",{"id":239,"name":1444,"phoneCode":1445},"Беларусь",375,{"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":1523,"authors":1541,"urls":1545},3264,"TRUE","mabel-capital-michael-zerda-iberian-platforms-european-real-estate","Mabel Capital, Michael Zerda, and the Iberian platforms reshaping European real estate capital flows",false,"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002Fmabel-capital-michael-zerda-iberian-platforms-european-real-estate.webp","2026-03-14T00:00:00.000Z",721,"2026-03-17T20:14:15.000Z",[1457,1468,1479],{"id":1458,"newsId":1447,"languageId":411,"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},3805,"A new generation of connector-principals is channelling private capital across borders, from Madrid and Lisbon to logistics hubs in Italy and beyond.","\u003Cp>European real estate investment climbed to €241 billion in 2025, a 13% increase from the previous year, according to CBRE. Behind that headline number lies a structural shift in how capital reaches assets. A rising cohort of Iberian-linked principals and platforms, including Mabel Capital, Michael Zerda's Deva Capital, Palm Capital, and public-sector actors such as Pedro Baganha in Porto, is redefining the intermediation layer between private wealth and built environment.\u003C\u002Fp>\n\u003Cp>Rather than relying on the traditional fund-manager gatekeeping model, these operators deploy capital through direct, relationship-driven structures. Their emergence reflects a broader European trend: the rise of connector-principals who combine local market knowledge with cross-border deal-sourcing capabilities.\u003C\u002Fp>\n\u003Ch2>European investment volumes signal sustained recovery\u003C\u002Fh2>\n\u003Cp>The €241 billion figure for 2025 marks a decisive turn after the correction cycle that followed the interest-rate shock of 2022-2023. According to projections compiled by GRI Institute and CBRE, European real estate investment volumes are expected to grow cumulatively by over 30% through 2027. The Living sector led European real estate investment in 2025, according to CBRE and GRI Institute, underscoring the weight of demographic demand and regulatory incentives in allocating institutional capital.\u003C\u002Fp>\n\u003Cp>This recovery is unevenly distributed across geographies and operator types. Large pan-European managers continue to dominate headline transactions, but a parallel capital circuit is gaining institutional visibility. Smaller, principal-led platforms with strong Iberian roots are capturing deal flow in segments where speed, local licensing expertise, and direct relationships with landowners or municipalities matter more than balance-sheet scale.\u003C\u002Fp>\n\u003Ch2>Who is Michael Zerda and what is his role in European real estate?\u003C\u002Fh2>\n\u003Cp>Michael Zerda is currently the Global Head of Real Estate at Santander Alternative Investments and CEO of Deva Capital. His career trajectory spans senior positions at LaSalle Investment Management and Blackstone, two of the most influential institutional platforms in global real estate. That background places him at the intersection of large-scale institutional allocation and the more agile, conviction-driven deployment model that characterises the current Iberian wave.\u003C\u002Fp>\n\u003Cp>Zerda's dual role is significant. At Santander Alternative Investments, he operates within one of Europe's largest banking groups, with access to distribution networks, balance-sheet capacity, and a client base of high-net-worth and institutional investors across Latin America and Europe. At Deva Capital, the structure is leaner, oriented toward direct investment and co-investment strategies that bypass the layered fee structures of traditional blind-pool funds.\u003C\u002Fp>\n\u003Cp>The connector-principal model that Zerda represents is gaining traction precisely because it aligns the interests of the deploying entity with those of capital partners. In a market environment where transparency and alignment are increasingly demanded by allocators, principals who co-invest meaningful equity alongside their partners carry credibility that pure intermediaries often lack.\u003C\u002Fp>\n\u003Ch2>What is Mabel Capital and how does it operate in the Iberian market?\u003C\u002Fh2>\n\u003Cp>Mabel Capital is a private investment firm founded in Madrid by Abel Matutes Prats and Manuel Campos. The platform entered the Portuguese market with the acquisition of four buildings in Lisbon, as reported by Iberian Property in March 2018. That early positioning in Lisbon anticipated what became one of the strongest capital appreciation cycles in Southern European real estate over the following years.\u003C\u002Fp>\n\u003Cp>Mabel Capital's investment approach reflects the broader characteristics of the Iberian connector-principal model: direct acquisitions, a preference for urban assets with repositioning potential, and a willingness to engage with local regulatory frameworks rather than outsource that complexity to third-party advisors. The firm operates across sectors, though its Iberian portfolio has concentrated on urban mixed-use and hospitality-adjacent assets in core city locations.\u003C\u002Fp>\n\u003Cp>The platform's growing visibility among institutional audiences signals a maturation phase. As Iberian real estate transitions from a yield-compression story to an operational value-creation story, platforms with embedded local teams and direct municipal relationships hold a structural advantage over remote capital allocators.\u003C\u002Fp>\n\u003Ch2>Palm Capital and the logistics value-add thesis\u003C\u002Fh2>\n\u003Cp>Palm Capital, founded by Reda Khatim, manages commercial real estate across the UK and Europe with a focus on distressed and value-add investments, according to the firm's own disclosures. The platform acquired a logistics portfolio in Bressana Bottarone, Pavia, Italy, as reported by CRE Media Europe in October 2025.\u003C\u002Fp>\n\u003Cp>That transaction exemplifies the cross-border deal-sourcing capability that distinguishes the current generation of mid-market principals. Logistics remains one of the highest-conviction sectors for European institutional capital, driven by e-commerce penetration, nearshoring trends, and supply-chain reconfiguration. Palm Capital's ability to source and close a value-add logistics deal in Northern Italy from a UK-headquartered platform demonstrates the kind of operational reach that was previously associated only with much larger managers.\u003C\u002Fp>\n\u003Cp>The distressed and value-add focus is particularly relevant in the current cycle. As refinancing pressures force asset dispositions across European markets, operators with available equity and quick decision-making processes are capturing opportunities that slower, committee-driven institutional vehicles cannot access in time.\u003C\u002Fp>\n\u003Ch2>Pedro Baganha and the public-private dimension in Porto\u003C\u002Fh2>\n\u003Cp>Pedro Baganha, the City Councilor for Urbanism, Public Space, and Housing in Porto, represents the public-sector dimension of this capital realignment. The municipality of Porto aims to increase its public housing supply to address affordable housing shortages, with targets extending toward 2030, according to Porto City Council.\u003C\u002Fp>\n\u003Cp>Baganha's role is relevant to the investment thesis because public-private partnerships are becoming an essential channel for deploying capital into the Living sector across Southern Europe. Municipal actors who understand both the regulatory environment and the needs of private capital partners function as enablers of deal flow that would otherwise remain trapped in bureaucratic bottlenecks.\u003C\u002Fp>\n\u003Cp>Portugal's Simplex Urbanístico, a legislative initiative aimed at simplifying and accelerating urban licensing processes for real estate development and construction, is a direct response to the regulatory friction that has historically slowed capital deployment in Portuguese cities. For platforms like Mabel Capital that entered Lisbon early, this regulatory streamlining could unlock a second wave of development activity in Portuguese urban markets.\u003C\u002Fp>\n\u003Ch2>How does regulation shape the competitive advantage of locally embedded principals?\u003C\u002Fh2>\n\u003Cp>The EU Directive 2024\u002F1275, the revised Energy Performance of Buildings Directive, requires zero-emission new buildings by 2030. This creates regulatory complexity that inherently favors locally embedded principals who can navigate national transposition timelines, municipal building codes, and energy certification requirements.\u003C\u002Fp>\n\u003Cp>For cross-border capital allocators, compliance with the revised EPBD adds a layer of operational risk that is difficult to manage from a distance. Principals with teams on the ground in Madrid, Lisbon, or Milan can integrate regulatory compliance into their underwriting from day one, rather than discovering compliance costs after acquisition.\u003C\u002Fp>\n\u003Cp>This regulatory environment reinforces the structural advantage of the connector-principal model. Platforms that combine capital access with local operational capability are better positioned to deliver risk-adjusted returns in a regulatory landscape that grows more complex with each directive cycle.\u003C\u002Fp>\n\u003Ch2>The connector-principal thesis in context\u003C\u002Fh2>\n\u003Cp>The emergence of Iberian-linked platforms as meaningful participants in European real estate capital flows is consistent with themes discussed regularly within GRI Institute's membership network. At GRI events, the conversation among senior principals has shifted perceptibly from macro allocation themes toward operator-level due diligence: who deploys, how they source, and what alignment mechanisms they offer.\u003C\u002Fp>\n\u003Cp>Three dynamics support the continued growth of this segment. First, the cumulative investment growth projected through 2027 creates a volume tailwind that benefits all active platforms. Second, the structural shift toward the Living and logistics sectors favors operators with sector-specific expertise rather than generalist fund managers. Third, regulatory complexity across European jurisdictions rewards local knowledge and embedded relationships with municipal and national authorities.\u003C\u002Fp>\n\u003Cp>The Iberian connector-principals profiled here, including Mabel Capital, Deva Capital, and Palm Capital, represent different expressions of the same structural thesis. Each combines direct capital deployment with cross-border sourcing, local regulatory navigation, and alignment-driven partnership models. Their rising institutional visibility, measured by search interest and industry engagement, reflects a broader market recognition that the intermediation layer in European real estate is being fundamentally restructured.\u003C\u002Fp>\n\u003Cp>As GRI Institute's data and member intelligence consistently indicate, the operators who will capture disproportionate deal flow in the next cycle are those who combine principal-level conviction with platform-level reach. The Iberian corridor, spanning from Madrid through Lisbon to Porto and extending into Italian logistics hubs and UK commercial markets, is emerging as one of the most dynamic theatres for this model.\u003C\u002Fp>\n","European real estate investment reached €241 billion in 2025, marking a sustained recovery after the 2022–2023 rate shock, with over 30% cumulative growth expected through 2027. Behind these volumes, a structural shift is underway: Iberian-linked connector-principals—including Mabel Capital, Michael Zerda's Deva Capital, and Palm Capital—are capturing cross-border deal flow through direct investment, co-investment alignment, and embedded local expertise.\n\nThese platforms thrive in Living and logistics sectors where regulatory complexity, municipal relationships, and speed of execution matter more than balance-sheet scale, fundamentally restructuring Europe's real estate intermediation layer.","\u003Cul>\n\u003Cli>European real estate investment hit €241B in 2025 (+13% YoY), with 30%+ cumulative growth projected through 2027.\u003C\u002Fli>\n\u003Cli>Iberian "connector-principals" like Mabel Capital, Deva Capital, and Palm Capital are displacing traditional fund-manager gatekeepers through direct, co-investment structures.\u003C\u002Fli>\n\u003Cli>Living and logistics sectors lead capital allocation, driven by demographics, e-commerce, and supply-chain shifts.\u003C\u002Fli>\n\u003Cli>EU regulatory complexity (e.g., EPBD zero-emission mandates by 2030) structurally favors locally embedded operators over remote allocators.\u003C\u002Fli>\n\u003Cli>Public-private partnerships, exemplified by Porto's housing push, are becoming essential capital deployment channels in Southern Europe.\u003C\u002Fli>\n\u003C\u002Ful>\n","Mabel Capital, Michael Zerda & Iberian platforms","mabel capital, michael zerda, pedro baganha, palm capital","Analysis of Mabel Capital, Michael Zerda, Pedro Baganha, and Palm Capital as Iberian-linked platforms channelling private capital into European real estate. Data-driven profile of connector-principals reshaping cross-border deal flow across Spain, Portugal","https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002Fmabel-capital-michael-zerda-iberian-platforms-european-real-estate-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},3806,"Mabel Capital, Michael Zerda e as plataformas ibéricas que redefinem os fluxos de capital imobiliário europeu","Uma nova geração de connector-principals canaliza capital privado através de fronteiras, de Madrid e Lisboa a polos logísticos na Itália.","\u003Cp>O investimento imobiliário europeu atingiu €241 bilhões em 2025, um aumento 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 ativos. Um grupo crescente de principals e plataformas vinculados à Península Ibérica, incluindo Mabel Capital, Deva Capital de Michael Zerda, Palm Capital e atores do setor público como Pedro Baganha no Porto, está redefinindo a camada de intermediação entre o patrimônio privado e o ambiente construído.\u003C\u002Fp>\u003Cp>Em vez de depender do modelo tradicional de gatekeeping de gestores de fundos, esses operadores alocam capital por meio de estruturas diretas e baseadas em relacionamento. Seu surgimento reflete uma tendência europeia mais ampla: a ascensão dos connector-principals que combinam conhecimento do mercado local com capacidades de originação de negócios transfronteiriços.\u003C\u002Fp>\u003Ch2>Volumes de investimento europeu sinalizam recuperação sustentada\u003C\u002Fh2>\u003Cp>A cifra de €241 bilhões para 2025 marca uma virada decisiva após o ciclo de correção que se seguiu ao choque de taxas de juros de 2022-2023. Segundo projeções compiladas pelo GRI Institute e pela CBRE, os volumes de investimento imobiliário europeu devem crescer de forma acumulada em mais de 30% até 2027. O setor Living liderou o investimento imobiliário europeu em 2025, segundo a CBRE e o GRI Institute, evidenciando o peso da demanda demográfica e dos incentivos regulatórios na alocação de capital institucional.\u003C\u002Fp>\u003Cp>Essa recuperação é distribuída de forma desigual entre geografias e tipos de operadores. Grandes gestoras pan-europeias continuam dominando as transações de destaque, mas um circuito paralelo de capital está ganhando visibilidade institucional. Plataformas menores, lideradas por principals com fortes raízes ibéricas, estão capturando fluxo de negócios em segmentos onde velocidade, expertise local em licenciamento e relacionamentos diretos com proprietários de terrenos ou municípios importam mais do que escala de balanço.\u003C\u002Fp>\u003Ch2>Quem é Michael Zerda e qual é seu papel no imobiliário europeu?\u003C\u002Fh2>\u003Cp>Michael Zerda é atualmente Global Head of Real Estate no Santander Alternative Investments e CEO da Deva Capital. Sua trajetória profissional abrange posições seniores na LaSalle Investment Management e na Blackstone, duas das plataformas institucionais mais influentes no mercado imobiliário global. Esse background o posiciona na interseção entre a alocação institucional de grande escala e o modelo de deployment mais ágil e baseado em convicção que caracteriza a atual onda ibérica.\u003C\u002Fp>\u003Cp>O duplo papel de Zerda é significativo. No Santander Alternative Investments, ele opera dentro de um dos maiores grupos bancários da Europa, com acesso a redes de distribuição, capacidade de balanço e uma base de clientes de alto patrimônio e investidores institucionais na América Latina e Europa. Na Deva Capital, a estrutura é mais enxuta, orientada a investimento direto e estratégias de co-investimento que contornam as camadas de taxas dos fundos tradicionais de blind-pool.\u003C\u002Fp>\u003Cp>O modelo de connector-principal que Zerda representa está ganhando tração precisamente porque alinha os interesses da entidade que investe com os dos parceiros de capital. Em um ambiente de mercado onde transparência e alinhamento são cada vez mais exigidos pelos alocadores, principals que co-investem equity significativo ao lado de seus parceiros carregam uma credibilidade que intermediários puros frequentemente não possuem.\u003C\u002Fp>\u003Ch2>O que é a Mabel Capital e como ela opera no mercado ibérico?\u003C\u002Fh2>\u003Cp>A Mabel Capital é uma empresa de investimento privado fundada em Madrid por Abel Matutes Prats e Manuel Campos. A plataforma entrou no mercado português com a aquisição de quatro edifícios em Lisboa, conforme reportado pelo Iberian Property em março de 2018. Esse posicionamento antecipado em Lisboa antecipou o que se tornou um dos ciclos de valorização mais fortes no mercado imobiliário do Sul da Europa nos anos seguintes.\u003C\u002Fp>\u003Cp>A abordagem de investimento da Mabel Capital reflete as características mais amplas do modelo ibérico de connector-principal: aquisições diretas, preferência por ativos urbanos com potencial de reposicionamento e disposição para lidar com marcos regulatórios locais em vez de terceirizar essa complexidade para consultores externos. A firma atua em diversos setores, embora seu portfólio ibérico tenha se concentrado em ativos urbanos de uso misto e adjacentes à hotelaria em localizações centrais de cidades.\u003C\u002Fp>\u003Cp>A crescente visibilidade da plataforma junto a audiências institucionais sinaliza uma fase de maturação. À medida que o mercado imobiliário ibérico transita de uma narrativa de compressão de yields para uma narrativa de criação de valor operacional, plataformas com equipes locais integradas e relacionamentos municipais diretos possuem uma vantagem estrutural sobre alocadores de capital remotos.\u003C\u002Fp>\u003Ch2>Palm Capital e a tese de value-add em logística\u003C\u002Fh2>\u003Cp>A Palm Capital, fundada por Reda Khatim, administra imóveis comerciais no Reino Unido e na Europa com foco em investimentos distressed e de value-add, conforme divulgações da própria firma. A plataforma adquiriu um portfólio logístico em Bressana Bottarone, Pavia, Itália, conforme reportado pela CRE Media Europe em outubro de 2025.\u003C\u002Fp>\u003Cp>Essa transação exemplifica a capacidade de originação transfronteiriça de negócios que distingue a atual geração de principals de mid-market. Logística continua sendo um dos setores de maior convicção para o capital institucional europeu, impulsionado pela penetração do e-commerce, tendências de nearshoring e reconfiguração de cadeias de suprimentos. A capacidade da Palm Capital de originar e fechar um negócio logístico de value-add no Norte da Itália a partir de uma plataforma sediada no Reino Unido demonstra o tipo de alcance operacional que antes era associado apenas a gestoras muito maiores.\u003C\u002Fp>\u003Cp>O foco em distressed e value-add é particularmente relevante no ciclo atual. À medida que pressões de refinanciamento forçam disposições de ativos nos mercados europeus, operadores com equity disponível e processos de decisão rápidos estão capturando oportunidades que veículos institucionais mais lentos, dirigidos por comitês, não conseguem acessar a tempo.\u003C\u002Fp>\u003Ch2>Pedro Baganha e a dimensão público-privada no Porto\u003C\u002Fh2>\u003Cp>Pedro Baganha, Vereador de Urbanismo, Espaço Público e Habitação no Porto, representa a dimensão do setor público nesse realinhamento de capital. O município do Porto visa aumentar sua oferta de habitação pública para combater a escassez de moradia acessível, com metas que se estendem até 2030, segundo a Câmara Municipal do Porto.\u003C\u002Fp>\u003Cp>O papel de Baganha é relevante para a tese de investimento porque as parcerias público-privadas estão se tornando um canal essencial para alocar capital no setor Living no Sul da Europa. Atores municipais que compreendem tanto o ambiente regulatório quanto as necessidades de parceiros de capital privado funcionam como facilitadores de fluxo de negócios que de outra forma ficaria preso em gargalos burocráticos.\u003C\u002Fp>\u003Cp>O Simplex Urbanístico de Portugal, uma iniciativa legislativa que visa simplificar e acelerar os processos de licenciamento urbano para desenvolvimento e construção imobiliária, é uma resposta direta à fricção regulatória que historicamente desacelerou a alocação de capital nas cidades portuguesas. Para plataformas como a Mabel Capital, que entraram cedo em Lisboa, essa simplificação regulatória pode desbloquear uma segunda onda de atividade de desenvolvimento nos mercados urbanos portugueses.\u003C\u002Fp>\u003Ch2>Como a regulação molda a vantagem competitiva de principals localmente integrados?\u003C\u002Fh2>\u003Cp>A Diretiva UE 2024\u002F1275, a Diretiva revisada sobre Desempenho Energético de Edifícios, exige edifícios novos com emissão zero até 2030. Isso cria uma complexidade regulatória que inerentemente favorece principals localmente integrados, capazes de navegar cronogramas de transposição nacional, códigos de construção municipais e requisitos de certificação energética.\u003C\u002Fp>\u003Cp>Para alocadores de capital transfronteiriços, o cumprimento da EPBD revisada adiciona uma camada de risco operacional difícil de gerenciar à distância. Principals com equipes no terreno em Madrid, Lisboa ou Milão podem integrar a conformidade regulatória em sua análise de subscrição desde o primeiro dia, em vez de descobrir custos de conformidade após a aquisição.\u003C\u002Fp>\u003Cp>Esse ambiente regulatório reforça a vantagem estrutural do modelo de connector-principal. Plataformas que combinam acesso a capital com capacidade operacional local estão melhor posicionadas para entregar retornos ajustados ao risco em um cenário regulatório que se torna mais complexo a cada ciclo de diretivas.\u003C\u002Fp>\u003Ch2>A tese do connector-principal em contexto\u003C\u002Fh2>\u003Cp>O surgimento de plataformas vinculadas à Península Ibérica como participantes relevantes nos fluxos de capital imobiliário europeu é consistente com temas discutidos regularmente na rede de membros do GRI Institute. Nos eventos do GRI, a conversa entre principals seniores mudou perceptivelmente de temas de alocação macro para due diligence no nível do operador: quem aloca, como origina e quais mecanismos de alinhamento oferece.\u003C\u002Fp>\u003Cp>Três dinâmicas sustentam o crescimento contínuo desse segmento. Primeiro, o crescimento acumulado de investimento projetado até 2027 cria um vento favorável de volume que beneficia todas as plataformas ativas. Segundo, a mudança estrutural em direção aos setores Living e logístico favorece operadores com expertise setorial específica em vez de gestores de fundos generalistas. Terceiro, a complexidade regulatória entre jurisdições europeias recompensa conhecimento local e relacionamentos integrados com autoridades municipais e nacionais.\u003C\u002Fp>\u003Cp>Os connector-principals ibéricos perfilados aqui, incluindo Mabel Capital, Deva Capital e Palm Capital, representam diferentes expressões da mesma tese estrutural. Cada um combina alocação direta de capital com originação transfronteiriça, navegação regulatória local e modelos de parceria orientados por alinhamento. Sua crescente visibilidade institucional, medida pelo interesse de busca e engajamento no setor, reflete um reconhecimento mais amplo do mercado de que a camada de intermediação no mercado imobiliário europeu está sendo fundamentalmente reestruturada.\u003C\u002Fp>\u003Cp>Como os dados e a inteligência de membros do GRI Institute consistentemente indicam, os operadores que capturarão fluxo de negócios desproporcional no próximo ciclo são aqueles que combinam convicção de nível principal com alcance de nível plataforma. O corredor ibérico, que se estende de Madrid passando por Lisboa até o Porto e se prolonga até polos logísticos italianos e mercados comerciais do Reino Unido, está emergindo como um dos teatros mais dinâmicos para esse modelo.\u003C\u002Fp>","O investimento imobiliário europeu atingiu €241 bilhões em 2025, marcando recuperação sustentada após o choque de juros de 2022-2023, com crescimento acumulado de mais de 30% previsto até 2027. Por trás desses volumes, uma mudança estrutural está em curso: connector-principals ibéricos — incluindo Mabel Capital, Deva Capital de Michael Zerda e Palm Capital — capturam fluxo de negócios transfronteiriço por meio de investimento direto, alinhamento via co-investimento e expertise local integrada. Essas plataformas prosperam nos setores Living e logístico, reestruturando a camada de intermediação imobiliária europeia.","\u003Cul>\n\u003Cli>Investimento imobiliário europeu atingiu €241 bi em 2025 (+13% a\u002Fa), com crescimento acumulado de 30%+ projetado até 2027.\u003C\u002Fli>\n\u003Cli>Connector-principals ibéricos como Mabel Capital, Deva Capital e Palm Capital estão substituindo gatekeepers tradicionais por estruturas de investimento direto e co-investimento.\u003C\u002Fli>\n\u003Cli>Setores Living e logístico lideram a alocação de capital, impulsionados por demografia, e-commerce e cadeias de suprimentos.\u003C\u002Fli>\n\u003Cli>Complexidade regulatória da UE (ex.: EPBD com emissão zero até 2030) favorece estruturalmente operadores localmente integrados.\u003C\u002Fli>\n\u003Cli>Parcerias público-privadas, como a iniciativa habitacional do Porto, tornam-se canais essenciais de alocação no Sul da Europa.\u003C\u002Fli>\n\u003C\u002Ful>\n","Mabel Capital, Michael Zerda e plataformas ibéricas","mabel capital, michael zerda, pedro baganha, palm capital, investimento imobiliário europeu, deva capital, connector-principals","Análise da Mabel Capital, Michael Zerda, Pedro Baganha e Palm Capital como plataformas ibéricas canalizando capital privado para o imobiliário europeu. Perfil baseado em dados dos connector-principals que redefinem fluxos transfronteiriços na Espanha, Port",{"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},3807,"Mabel Capital, Michael Zerda y las plataformas ibéricas que reconfiguran los flujos de capital inmobiliario europeo","Una nueva generación de connector-principals canaliza capital privado a través de fronteras, desde Madrid y Lisboa hasta polos logísticos en Italia.","\u003Cp>La inversión inmobiliaria europea alcanzó los €241.000 millones en 2025, un aumento del 13% respecto al año anterior, según CBRE. Detrás de esa cifra se encuentra un cambio estructural en la forma en que el capital llega a los activos. Un creciente grupo de principals y plataformas vinculados a la Península Ibérica, incluyendo Mabel Capital, Deva Capital de Michael Zerda, Palm Capital y actores del sector público como Pedro Baganha en Oporto, está redefiniendo la capa de intermediación entre el patrimonio privado y el entorno construido.\u003C\u002Fp>\u003Cp>En lugar de depender del modelo tradicional de gatekeeping de gestores de fondos, estos operadores despliegan capital a través de estructuras directas basadas en relaciones. Su aparición refleja una tendencia europea más amplia: el auge de los connector-principals que combinan conocimiento del mercado local con capacidades de originación de operaciones transfronterizas.\u003C\u002Fp>\u003Ch2>Los volúmenes de inversión europeos señalan una recuperación sostenida\u003C\u002Fh2>\u003Cp>La cifra de €241.000 millones para 2025 marca un giro decisivo tras el ciclo de corrección que siguió al shock de tipos de interés de 2022-2023. Según proyecciones recopiladas por GRI Institute y CBRE, se espera que los volúmenes de inversión inmobiliaria europea crezcan de forma acumulada más de un 30% hasta 2027. El sector Living lideró la inversión inmobiliaria europea en 2025, según CBRE y GRI Institute, subrayando el peso de la demanda demográfica y los incentivos regulatorios en la asignación de capital institucional.\u003C\u002Fp>\u003Cp>Esta recuperación se distribuye de manera desigual entre geografías y tipos de operadores. Los grandes gestores paneuropeos siguen dominando las transacciones destacadas, pero un circuito paralelo de capital está ganando visibilidad institucional. Plataformas más pequeñas, lideradas por principals con fuertes raíces ibéricas, están capturando flujo de operaciones en segmentos donde la velocidad, la experiencia local en licencias y las relaciones directas con propietarios de terrenos o municipios importan más que la escala del balance.\u003C\u002Fp>\u003Ch2>¿Quién es Michael Zerda y cuál es su papel en el inmobiliario europeo?\u003C\u002Fh2>\u003Cp>Michael Zerda es actualmente Global Head of Real Estate en Santander Alternative Investments y CEO de Deva Capital. Su trayectoria profesional abarca posiciones senior en LaSalle Investment Management y Blackstone, dos de las plataformas institucionales más influyentes en el mercado inmobiliario global. Ese bagaje lo sitúa en la intersección entre la asignación institucional a gran escala y el modelo de despliegue más ágil y basado en convicción que caracteriza la actual ola ibérica.\u003C\u002Fp>\u003Cp>El doble rol de Zerda es significativo. En Santander Alternative Investments, opera dentro de uno de los mayores grupos bancarios de Europa, con acceso a redes de distribución, capacidad de balance y una base de clientes de alto patrimonio e inversores institucionales en América Latina y Europa. En Deva Capital, la estructura es más ligera, orientada hacia la inversión directa y estrategias de coinversión que eluden las capas de comisiones de los fondos tradicionales de blind-pool.\u003C\u002Fp>\u003Cp>El modelo de connector-principal que Zerda representa está ganando tracción precisamente porque alinea los intereses de la entidad que despliega capital con los de los socios capitalistas. En un entorno de mercado donde la transparencia y el alineamiento son cada vez más exigidos por los asignadores, los principals que coinvierten equity significativo junto a sus socios aportan una credibilidad que los intermediarios puros a menudo carecen.\u003C\u002Fp>\u003Ch2>¿Qué es Mabel Capital y cómo opera en el mercado ibérico?\u003C\u002Fh2>\u003Cp>Mabel Capital es una firma de inversión privada fundada en Madrid por Abel Matutes Prats y Manuel Campos. La plataforma entró en el mercado portugués con la adquisición de cuatro edificios en Lisboa, según informó Iberian Property en marzo de 2018. Ese posicionamiento temprano en Lisboa anticipó lo que se convirtió en uno de los ciclos de apreciación de capital más fuertes del inmobiliario del sur de Europa en los años siguientes.\u003C\u002Fp>\u003Cp>El enfoque de inversión de Mabel Capital refleja las características más amplias del modelo ibérico de connector-principal: adquisiciones directas, preferencia por activos urbanos con potencial de reposicionamiento y disposición para interactuar con marcos regulatorios locales en lugar de externalizar esa complejidad a asesores externos. La firma opera en diversos sectores, aunque su cartera ibérica se ha concentrado en activos urbanos de uso mixto y adyacentes a la hostelería en ubicaciones céntricas de ciudades.\u003C\u002Fp>\u003Cp>La creciente visibilidad de la plataforma entre audiencias institucionales señala una fase de maduración. A medida que el inmobiliario ibérico transita de una narrativa de compresión de yields a una narrativa de creación de valor operativo, las plataformas con equipos locales integrados y relaciones municipales directas poseen una ventaja estructural sobre los asignadores de capital remotos.\u003C\u002Fp>\u003Ch2>Palm Capital y la tesis de value-add en logística\u003C\u002Fh2>\u003Cp>Palm Capital, fundada por Reda Khatim, gestiona inmuebles comerciales en el Reino Unido y Europa con enfoque en inversiones distressed y de value-add, según las propias comunicaciones de la firma. La plataforma adquirió una cartera logística en Bressana Bottarone, Pavía, Italia, según informó CRE Media Europe en octubre de 2025.\u003C\u002Fp>\u003Cp>Esa transacción ejemplifica la capacidad de originación transfronteriza de operaciones que distingue a la actual generación de principals de mid-market. La logística sigue siendo uno de los sectores de mayor convicción para el capital institucional europeo, impulsada por la penetración del e-commerce, las tendencias de nearshoring y la reconfiguración de cadenas de suministro. La capacidad de Palm Capital para originar y cerrar una operación logística de value-add en el norte de Italia desde una plataforma con sede en el Reino Unido demuestra el tipo de alcance operativo que antes se asociaba únicamente con gestores mucho más grandes.\u003C\u002Fp>\u003Cp>El enfoque en distressed y value-add es particularmente relevante en el ciclo actual. A medida que las presiones de refinanciación fuerzan disposiciones de activos en los mercados europeos, los operadores con equity disponible y procesos de decisión rápidos están capturando oportunidades que los vehículos institucionales más lentos, dirigidos por comités, no pueden acceder a tiempo.\u003C\u002Fp>\u003Ch2>Pedro Baganha y la dimensión público-privada en Oporto\u003C\u002Fh2>\u003Cp>Pedro Baganha, Concejal de Urbanismo, Espacio Público y Vivienda en Oporto, representa la dimensión del sector público en esta reconfiguración de capital. El municipio de Oporto tiene como objetivo aumentar su oferta de vivienda pública para abordar la escasez de vivienda asequible, con metas que se extienden hasta 2030, según el Ayuntamiento de Oporto.\u003C\u002Fp>\u003Cp>El papel de Baganha es relevante para la tesis de inversión porque las alianzas público-privadas se están convirtiendo en un canal esencial para desplegar capital en el sector Living en el sur de Europa. Los actores municipales que comprenden tanto el entorno regulatorio como las necesidades de los socios de capital privado funcionan como facilitadores de flujo de operaciones que de otro modo quedaría atrapado en cuellos de botella burocráticos.\u003C\u002Fp>\u003Cp>El Simplex Urbanístico de Portugal, una iniciativa legislativa destinada a simplificar y acelerar los procesos de licencia urbanística para el desarrollo y construcción inmobiliaria, es una respuesta directa a la fricción regulatoria que históricamente ha ralentizado el despliegue de capital en las ciudades portuguesas. Para plataformas como Mabel Capital que entraron temprano en Lisboa, esta simplificación regulatoria podría desbloquear una segunda ola de actividad de desarrollo en los mercados urbanos portugueses.\u003C\u002Fp>\u003Ch2>¿Cómo moldea la regulación la ventaja competitiva de los principals localmente integrados?\u003C\u002Fh2>\u003Cp>La Directiva UE 2024\u002F1275, la Directiva revisada de Eficiencia Energética de los Edificios, exige edificios nuevos de cero emisiones para 2030. Esto crea una complejidad regulatoria que inherentemente favorece a principals localmente integrados capaces de navegar los plazos de transposición nacional, los códigos de edificación municipales y los requisitos de certificación energética.\u003C\u002Fp>\u003Cp>Para los asignadores de capital transfronterizos, el cumplimiento de la EPBD revisada añade una capa de riesgo operativo difícil de gestionar a distancia. Los principals con equipos sobre el terreno en Madrid, Lisboa o Milán pueden integrar el cumplimiento regulatorio en su análisis de suscripción desde el primer día, en lugar de descubrir costes de cumplimiento tras la adquisición.\u003C\u002Fp>\u003Cp>Este entorno regulatorio refuerza la ventaja estructural del modelo de connector-principal. Las plataformas que combinan acceso a capital con capacidad operativa local están mejor posicionadas para ofrecer retornos ajustados al riesgo en un panorama regulatorio que se vuelve más complejo con cada ciclo de directivas.\u003C\u002Fp>\u003Ch2>La tesis del connector-principal en contexto\u003C\u002Fh2>\u003Cp>La aparición de plataformas vinculadas a la Península Ibérica como participantes relevantes en los flujos de capital inmobiliario europeo es coherente con temas discutidos regularmente en la red de miembros del GRI Institute. En los eventos del GRI, la conversación entre principals senior ha virado perceptiblemente de temas de asignación macro hacia la due diligence a nivel de operador: quién despliega, cómo origina y qué mecanismos de alineamiento ofrece.\u003C\u002Fp>\u003Cp>Tres dinámicas sustentan el crecimiento continuo de este segmento. Primero, el crecimiento acumulado de inversión proyectado hasta 2027 crea un viento de cola en volumen que beneficia a todas las plataformas activas. Segundo, el cambio estructural hacia los sectores Living y logístico favorece a operadores con experiencia sectorial específica frente a gestores de fondos generalistas. Tercero, la complejidad regulatoria entre jurisdicciones europeas recompensa el conocimiento local y las relaciones integradas con autoridades municipales y nacionales.\u003C\u002Fp>\u003Cp>Los connector-principals ibéricos perfilados aquí, incluyendo Mabel Capital, Deva Capital y Palm Capital, representan diferentes expresiones de la misma tesis estructural. Cada uno combina despliegue directo de capital con originación transfronteriza, navegación regulatoria local y modelos de asociación orientados por el alineamiento. Su creciente visibilidad institucional, medida por el interés de búsqueda y el compromiso sectorial, refleja un reconocimiento más amplio del mercado de que la capa de intermediación en el inmobiliario europeo está siendo fundamentalmente reestructurada.\u003C\u002Fp>\u003Cp>Como los datos y la inteligencia de miembros del GRI Institute indican de forma consistente, los operadores que capturarán un flujo de operaciones desproporcionado en el próximo ciclo son aquellos que combinan convicción de nivel principal con alcance de nivel plataforma. El corredor ibérico, que se extiende desde Madrid pasando por Lisboa hasta Oporto y se prolonga hacia polos logísticos italianos y mercados comerciales del Reino Unido, está emergiendo como uno de los escenarios más dinámicos para este modelo.\u003C\u002Fp>","La inversión inmobiliaria europea alcanzó €241.000 millones en 2025, marcando una recuperación sostenida tras el shock de tipos de 2022-2023, con un crecimiento acumulado superior al 30% previsto hasta 2027. Detrás de estos volúmenes, se produce un cambio estructural: connector-principals ibéricos —como Mabel Capital, Deva Capital de Michael Zerda y Palm Capital— capturan flujo transfronterizo mediante inversión directa, alineamiento por coinversión y experiencia local integrada. Estas plataformas prosperan en los sectores Living y logístico, reestructurando la capa de intermediación inmobiliaria europea.","\u003Cul>\n\u003Cli>La inversión inmobiliaria europea alcanzó €241.000 M en 2025 (+13% interanual), con crecimiento acumulado del 30%+ proyectado hasta 2027.\u003C\u002Fli>\n\u003Cli>Connector-principals ibéricos como Mabel Capital, Deva Capital y Palm Capital desplazan a los gatekeepers tradicionales mediante estructuras de inversión directa y coinversión.\u003C\u002Fli>\n\u003Cli>Los sectores Living y logístico lideran la asignación de capital, impulsados por demografía, e-commerce y cadenas de suministro.\u003C\u002Fli>\n\u003Cli>La complejidad regulatoria de la UE (ej.: EPBD con cero emisiones para 2030) favorece estructuralmente a operadores localmente integrados.\u003C\u002Fli>\n\u003Cli>Las alianzas público-privadas, como la iniciativa de vivienda de Oporto, se consolidan como canales esenciales de despliegue de capital en el sur de Europa.\u003C\u002Fli>\n\u003C\u002Ful>\n","Mabel Capital, Michael Zerda y plataformas ibéricas","mabel capital, michael zerda, pedro baganha, palm capital, inversión inmobiliaria europea, deva capital, connector-principals","Análisis de Mabel Capital, Michael Zerda, Pedro Baganha y Palm Capital como plataformas ibéricas que canalizan capital privado hacia el inmobiliario europeo. Perfil basado en datos de los connector-principals que redefinen los flujos transfronterizos en Es",{"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},[1499,1507,1515],{"id":343,"label":344,"translations":1500},[1501,1503,1505],{"label":344,"slug":355,"language":1502},{"code":13},{"label":358,"slug":359,"language":1504},{"code":18},{"label":362,"slug":363,"language":1506},{"code":23},{"id":366,"label":367,"translations":1508},[1509,1511,1513],{"label":367,"slug":378,"language":1510},{"code":13},{"label":381,"slug":382,"language":1512},{"code":18},{"label":385,"slug":386,"language":1514},{"code":23},{"id":155,"label":156,"translations":1516},[1517,1519,1521],{"label":156,"slug":167,"language":1518},{"code":13},{"label":170,"slug":171,"language":1520},{"code":18},{"label":174,"slug":175,"language":1522},{"code":23},[1524,1527,1529,1531,1534,1537,1539],{"name":863,"enName":863,"ptName":1525,"iso2":1526},"Alemanha","DE",{"name":1303,"enName":1303,"ptName":1303,"iso2":1528},"ES",{"name":843,"enName":843,"ptName":843,"iso2":1530},"FR",{"name":1391,"enName":1391,"ptName":1532,"iso2":1533},"Reino Unido","GB",{"name":959,"enName":959,"ptName":1535,"iso2":1536},"Itália","IT",{"name":1117,"enName":1117,"ptName":1117,"iso2":1538},"NL",{"name":1195,"enName":1195,"ptName":1195,"iso2":1540},"PT",[1542],{"name":1543,"slug":1544,"image":8,"order":632},"GRI Institute","gri-institute",{"en":1546,"pt-BR":1547,"es":1548},"\u002Freal-estate\u002Fmabel-capital-michael-zerda-iberian-platforms-european-real-estate","\u002Fmercado-imobiliario\u002Fmabel-capital-michael-zerda-iberian-platforms-european-real-estate","\u002Fmercado-inmobiliario\u002Fmabel-capital-michael-zerda-iberian-platforms-european-real-estate",[1550,1551,1552,1553,1554,1555],"Infra Brazil","Infra Latam","Real Estate Brazil","Real Estate Europe","Real Estate India","Real Estate Latam"]