Financial structure gains prominence in real estate developments

The construction industry is experiencing a period of sustained growth. The Brazilian Chamber of the Construction Industry (CBIC) expects the sector to grow for the third consecutive year in 2026, driven by increased investment and improved financing conditions. In this scenario, the discussion around credit has also changed. More than just making a project viable, financial structure has become a determining factor in managing cash flow, reducing risks throughout the construction process, anticipating receivables, and creating capacity for new launches. Financing is no longer a one-off operation; it has become an integral part of developers' growth strategies.

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"Financing should not be viewed merely as an inflow of cash, but as a central part of project planning," says Jefferson Pavarin, Head of Real Estate at Ouribank. According to the executive, an efficient financial structure considers the entire project cycle, from land acquisition to construction completion and the monetization of receivables. "When this structuring is done from the beginning, the developer gains predictability, avoids financial mismatches, and reduces the risk of needing to seek emergency funding under less favorable conditions."

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A strategy that has gained scale

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This vision has guided the operations of Ouribank's Real Estate division since its relaunch in 2024. With an initial allocation of R$ 250 million, the operation was structured to serve different stages of the real estate cycle, offering financial solutions that go beyond traditional financing.

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The results demonstrate the division's evolution. In the first half of 2026 alone, the bank structured over R$ 100 million in operations for seven projects distributed across different regions of the country. This performance consolidates a trajectory that began in its first year of operation, when significant construction financing deals were carried out in Santa Catarina and São José dos Campos, in addition to the acquisition of receivable portfolios from land subdivisions and residential developments. Over this period, the portfolio has also expanded to include production financing, purchase and anticipation of receivables, inventory operations, Real Estate Credit (CGI), and funding structures through Real Estate Credit Bills (LCIs).

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According to Pavarin, this growth is directly linked to the consultative model adopted by the division. Before defining any operation, the team seeks to understand the specificities of each project and structure the most appropriate solution for that particular business moment.

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"Before offering a product, we seek to understand the project, the stage of construction, sales velocity, receivable flow, inventory, and the company's growth strategy. Based on this diagnosis, we design the most suitable structure," he explains.

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In practice, this means combining different financial instruments according to the needs of each project. Depending on the phase of the development, solutions such as production financing, anticipation of receivables, inventory operations, real estate-backed credit, or working capital can be used. The goal is to align the disbursement schedule with the project's cash generation, reducing risks and preserving the developer's investment capacity.

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This strategy also reduces dependence on sales pace to keep construction moving. By pre-structuring funding sources, the company can plan payments to suppliers, material procurement, and service contracting with greater predictability, even during periods of input inflation, interest rate fluctuations, or changes in the economic landscape.

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Another instrument gaining traction is the use of real estate receivables themselves as a source of liquidity. By anticipating future revenues, developers can bolster their cash flow precisely during phases of peak capital demand, recycle resources from completed projects, and create conditions to finance new ventures without necessarily increasing corporate debt.

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"Continuous monitoring is also part of this structure. We evaluate construction progress, sales performance, portfolio quality, delinquency rates, and any cost fluctuations. This oversight allows us to anticipate issues and adjust operations before a minor deviation turns into a major challenge," says Pavarin.

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Beyond providing greater security for developers, an efficient financial structure produces effects that extend well beyond the scope of individual projects. The construction industry drives an extensive supply chain, involving engineering and architecture firms, material suppliers, logistics companies, service providers, technology firms, and brokerages. Each new project creates jobs, strengthens local commerce, increases tax revenue, and contributes to urban development.

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"When a developer completes a project, delivers the property, and recovers the invested capital, they are able to acquire new land and start new projects. An efficient financial structure accelerates this capital recycling process and allows the economic impact to multiply," the executive highlights.

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Next steps

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Following the consolidation phase, the outlook for Ouribank's Real Estate division is to selectively expand its operations, maintaining a focus on structuring liquidity throughout the entire real estate cycle.

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Priorities include expanding operations backed by both performed and forming receivables, developing recurring structures for developers with multiple projects, and strengthening solutions aimed at capital recycling. The strategy also includes increasing construction financing, inventory operations, and structures for residential, commercial, land subdivision, income-generating properties, and structured developments.

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Geographic expansion will follow the same principle. Although already active in different regions of the country, the bank intends to increase its presence in regional markets, seeking developers with consistent projects, strong governance, and a proven track record of execution. At the same time, it will remain close to small and medium-sized enterprises—the origin of the division's strategy—while expanding its work with medium and large-scale developers seeking more flexible and personalized solutions.

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"The relationship doesn't end with the credit disbursement. We continue to monitor the operation, discuss alternatives, and help the client plan their next steps. This is what positions us as a bank of structured solutions and a strategic financial partner, rather than simply a provider of funds," concludes Pavarin.

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