Real estate investment trusts and the contingent financialisation of land subdivisions in agribusiness cities

Giselle Mendonça Abreu

Chapter 23 in Handbook on Financialisation and Space, 2026, pp 410-430 from Edward Elgar Publishing

Abstract: This chapter examines the financialisation of urban land subdivisions in Brazil's agribusiness cities through the lens of Real Estate Investment Trusts (REITs). REITs have seen exponential growth and diversification in recent decades, both geographically and in asset types, constituting key instruments in the extension of ‘financialised financial infrastructures’ over new frontiers. Yet, this expansion often faces frictions and limits. Drawing on fieldwork in soybean-producing cities in the Centre-West region of Brazil, as well as interviews with capital market actors, the chapter explores how local real estate practices, capital circuits, and cultural values shape and constrain the reach of financialisation. It identifies three categories of empirical limits: socio-technical (stemming from the fragmented nature of regional developers); political-economic (rooted in agribusiness capital's internal financing capacity); and cultural (linked to locally specific values). Rather than a seamless expansion, the chapter highlights how planetary financialisation can be a hesitant, unstable, and contingent process.

Keywords: Real Estate Investment Trusts; Securitisation; Financial Infrastructure; Urban Expansion; Land Subdivisions; Agribusiness Cities (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035328628
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