The real estate/financial complex in Brazil and Italy: tools for the financial production of urban space

The rapid spread of the North American housing crisis in a global crisis drew attention to the connections between the real estate, financial sectors and the states. In the absence of studies that bring together these three spheres, Aalbers (2011) proposed the idea of a Real Estate / Financial Complex. The purpose of this concept is not only to encompass these three actors in a macro analysis (national scale), but also to observe on the local level how these relationships are manifested in the urban fabric. This article reveals the features of this Complex in the cases of Brazil and Italy, demonstrating how Urban Operations and Integrated Intervention Programs are representative of the process of built environment financialization in these countries.