Senior Counsel Vicky Fulop spoke with The Real Deal on how SoFla real estate investors are looking to Venezuela for new opportunities despite the country currently experiencing high inflation rates and a mass exodus of its citizens. Although many believe that it will be several more years before Venezuela begins to improve, Ms. Fulop discusses how once the oil and gas sector reactivates in the country then the real estate, hospitality and other industries will follow.
"Even though people left in massive numbers, they always kept a foot firmly grounded in Venezuela. They kept their businesses, they kept their residences," Ms. Fulop said. Those who remained and who have the means, "will definitely be at the forefront when things change and pick up."
Ms. Fulop is a part of Holland & Knight's Venezuela Focus Team which works with clients with interests in real estate and hospitality, sanctions and trade, corporate and tax, international disputes and energy and natural resources.
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