Brazil's Cyrela says housing starts down 16.1 pct in 4th quarter
RIO DE JANEIRO Jan 14 (Reuters) - Brazilian homebuilder Cyrela Brazil Realty SA started 2.26 billion reais ($864.1 million) worth of housing projects in the fourth quarter, down 16.1 percent from the same quarter a year earlier, the company said in a statement on Wednesday.
Of those starts, 80 percent were by Cyrela alone, up from 71 percent a year earlier. The rest are being built with partners.
The company also said that it sold 1.89 billion reais of houses and apartments in the quarter, 17.1 percent less than the 2.28 billion reais reported a year earlier.
Cyrela said 78 percent of the sales were its own, and the rest went to partners.
($ = 2.6153 Brazilian reais) (Reporting by Jeb Blount; Editing by David Gregorio)
© Thomson Reuters 2017 All rights reserved.