Multiplan invests in multipurpose undertakings
Valor Econômico
A complete undertaking. That is how Multiplan starts planning its investments in new shopping malls from now on. Besides stores, restaurants, service stations and recreational areas, the undertakings must also already have shopping malls and condominiums for housing. The company plans to invest heavily in the multipurposes, as the new Park Shopping Sao Caetano which is being built integrated to a new residential area of the town in the Metropolitan Region of Sao Paulo.
Over the next two years, the group will invest R$1 billion (US$ 571.4 million) in four new projects, including the Village Mall, a new high luxury mall added to the Barra Shopping complex, and two new office towers in the Park Shopping of Brasilia. The mall of the Federal District has just had an expansion, which cost R$ 180 million (US$ 102.9 million), and now it will receive its first shopping center to become multipurpose. Jose Isaac Peres, Multiplan´s president, explains that the company's experience shows that every day more people want new features and to be close to where they can eat, pay bills and shop.
Only this year, the company is investing R$ 433.3 million (US$ 247.6 million). Expansions will be made in the BH Shopping, in Belo Horizonte, which will gain 11,015 square meters of gross rentable area and another in the Park Shopping Barigui, in Curitiba, which will have a new area of 8,110 square meters. In addition, the company is building the Park Shopping Sao Caetano, with 300 thousand square meters and expected to start operating in 2011, the Jundiaí Mall, with opening in the second half of 2012, and the Village Mall, in Rio, which will only also open the doors in two years. There is also the building of the commercial tower of the Barra Shopping Sul (RS), whose opening will be in 2011.
The company also invests in building condominiums. Only in Rio, three luxury undertakings were built in Barra da Tijuca, the Golden Green, in 1992, the Peninsula Green, in 2002, and the Royal Green Peninsula, in 2005. However, Perez says that this is not the focus of Multiplan. "Less than 20% of our future investment will be in isolated housing. Our focus will remain on the multipurpose undertakings," he concludes.