PDG Realty announces a joint venture between Goldfarb and CHL for real estate development projects in Rio de Janeiro state. The joint venture will consolidate PDG Realty's leadership in the low-income housing segment in Rio de Janeiro. CHL will enter the low-income segment through the partnership. The joint venture already has a pipeline of 5 projects totaling R$326 million, with 3,000 units expected to launch in the first half of 2008. CHL will be responsible for land acquisition and Goldfarb will oversee construction and management.