Shopping mall sector foresees 32 more units until 2009
Folha de S. Paulo - 03/24/2008
Pushed by the increase of credit and by the families' consumption, the shopping mall industry foresees the construction of 32 new undertakings until the end of 2009, according to data from Abrasce (Brazilian Association of Shopping Centers). Nearly 40% of the new units will be built in the State of São Paulo. After that, the total amount of shopping malls in the country will reach 399 in the end of next year. A study by BNDES (National Bank for Economic and Social Development) states the sector currently goes through a phase of consolidation, caused by the inflow of foreign investment and because the companies are going public. The new investors who put their resources in the sector bet in the growth of the Brazilian middle class' income. The study by Goldman Sachs, mentioned by BNDES, states the Brazilian middle class should double until 2015, which would have a significant impact in the market and consumption standards. This new "Mall fever" is pushed by the increase of the purchasing power of the C and D consumer classes. With that, the sector made room for projects aimed at "the new middle class", with greater popular appeal, and also at the A Class consumers, in which the flow of customers is smaller, but the average value of the payment slips of the purchases is higher. According to the administrator, what changes in each project is the mix of stores, designed to please each customer and suit every pocket. Currently, 55% of the shopping malls in the country are concentrated in the Southeastern region. The State of Sao Paulo is the leader, with 122 units. In 2007, the sales of the sector grew 16% and amounted to R$ 58 billion (US$ 33 billion), according to Abrasce. The data includes the revenues from stores' leasing, parking services, and advertising.