Correios scheduled the first property auctions for the 12th and 26th of February, as part of a restructuring strategy to raise funds and reduce the company’s fiscal hole, expected to reach R$9 billion this year.
The company intends to raise up to R$1.5 billion from the sale of 60 properties. The values, which start at R$19 thousand and go up to R$11 million, include apartments, stores, administrative buildings and even entire warehouses. Any natural or legal person can participate.
In this first batch, 21 properties will be auctioned. The rest, a number not yet defined, are in the process of being sold. Many are occupied or have delinquent owners or renters. New rounds should occur throughout the year.
According to the president of Correios, the goal is to “recover liquidity and control expenses”. The estimated revenue for this year is R$17 billion, but expenses are around R$26 billion. 75% of this amount is spent on employee salaries.
