Asset Appreciation: How Real Estate Management Transforms Idle Spaces

Client: Brazilian Academy of Letters (ABL)

Project: Creation of the Social Space

Sector: Corporate Building

Location: Downtown Rio de Janeiro – RJ

Area Impacted: 600 m² (estimated)

The Challenge

The Palácio Austregésilo de Athayde, a 30-story building with approximately 50,000 m², had an underutilized area—the former Galeria Manuel Bandeira—that had been inactive for years. Explen identified an opportunity to transform this unused space into a functional, accessible, and valuable environment, aligning with the needs of the building’s occupants and enhancing the property’s value.

Explen’s Role

As the asset manager, Explen led all phases of the project, from feasibility studies to final delivery. The initiative was divided into two stages, always respecting the building’s continuous operation and ensuring user safety and comfort.

Stage 1 – Creation of the Social Space

  • Developed a technical study and obtained approval from ABL
  • Designed the gallery with a new layout, climate control, lighting, and collaborative furniture
  • Executed construction during strategic hours (nights and weekends) to avoid disrupting building activities
  • Involved Engepred’s maintenance team in technical services, optimizing costs and timelines

Stage 2 – Accessibility and Complementary Infrastructure

  • Constructed accessible restrooms with institutional-standard finishes
  • Installed an exclusive elevator for people with disabilities, including detailed structural analysis and integrated supplier management
  • Monitored progress with weekly meetings, risk control, and full alignment with ABL administration

Achieved Results

  • The new social space is widely used by occupants for informal meetings, breaks, and integration
  • Enhanced accessibility in the building, promoting inclusion for all users
  • Potential for monetization through event rentals by companies located in the building
  • Increased asset value with the delivery of a modern, functional area aligned with contemporary corporate demands
  • Project recognized nationally with a nomination for the ABRAFAC Award— a reference in the facilities sector

Impact and Legacy

This project underscores Explen’s role in property management as a transformative agent in the buildings it oversees. The revitalization of the gallery exemplifies how strategic space planning and multidisciplinary technical execution generate real value: improving user experience, promoting inclusion, and strengthening the client’s asset.

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