Mozak to develop luxury housing in Rio de Janeiro's Leblon

The real estate market in Rio de Janeiro's exclusive Jardim Pernambuco neighborhood is shifting as a massive luxury mansion, previously listed for R$ 220 million, failed to find a residential buyer. The property, owned by the Amaral family of the former Disco supermarket chain, was built in 1986 and features 2,500 square meters of living space on an 11,000 square meter plot.

Due to the lack of interest in such large, older estates, the developer Mozak has acquired the property with plans to demolish the existing structure. The company intends to subdivide the land to construct 10 smaller, modern luxury houses. This project is expected to create a rare new supply of high-end housing in the highly restricted and secretive enclave of Leblon.