São Paulo – Shopping centres in Brazil should have revenues of 97.4 billion Brazilian reals (US$ 54 billion) this year, with growth of 12% over last year, according to estimates disclosed by the Brazilian Association of Shopping Centres (Abrasce). For 2012, further growth is also expected.
Shopping centre releases may double next year, from 21 in 2010 to 43 in 2012. Currently, according to the Abrasce, the Southeast of Brazil concentrates the greatest part of shopping centres, with 55% of the total.
There is, however, tendency for growth in other regions. 5R Shopping Centers, a company specialized in land prospecting, planning, development, trade and management of shopping centres, released enterprises in Rio Grande, in Rio Grande do Sul, and Uberaba, in Minas Gerais.
"Despite the international economic scenery, this is a market that is on the edge of the crisis, as domestic consumption is still high,” explained Carlos Felipe Fulcher, the company’s president. The company should soon release another unit in Uberaba.
*Translated by Mark Ament
