REP promises to grow in Mall market
DCI
The shopping mall market has attracted new players that enter aggressively in the dispute for space and fight with leaders like BRMalls, Multiplan, Sonae Sierra and Shopping Center Iguatemi, among others. With the strategy of purchasing land in areas that demand undertakings in such market and closing new partnerships, the REP Centros Comerciais group, currently responsible for 12 shopping malls, is one of those that promise to annoy the big names in the sector and become a strong player, since until 2012 it foresees investing something near R$ 430 million (US$ 239 million) in four malls located in the State of São Paulo.
Besides being in the final phase for the acquisition of an area for the development of a mall between the neighborhoods of Vila Prudente and region of Ipiranga, in the city of São Paulo - where actually the Central Plaza Shopping is located - there is the Mais Shopping Largo 13, also in the capital, which will be inaugurated in October this year. Besides those, other malls of REP will be located in the interior, such as the newly-released Buriti Shopping Bauru, and a shopping center in Hortolândia, where REP bought a piece of land.
In Bauru, the project will be opened in 2012 and it received an initial investment of R$ 75 million (US$ 41.7 million), and its partners are Terral Shopping Centers, Nassau Empreendimentos and Tenda Atacado - that will have a store next to the mall. According to the CEO of REP Centros Comerciais, Marcos Romiti, the possibility of bringing the project to Bauru began being considered after Tenda Atacado acquired an area - in the cloverleaf of Avenida Nuno de Assis and Marechal Rondon Highway - for the construction of a supermarket. "Since they would not use all the land, they sought us with the possibility of having up building a mall in the rest of the area. After a careful market research, we have come to the conclusion that there is room in Bauru for the construction of the undertaking the size we are bringing to it", says Romiti.
The Buriti shall have parking space for 1,000 cars, 300 satellite-stores and 11 megastores distributed through two floors, besides a third floor with food court and six movie theater of the Mexican company Cinépolis. So far, according to Romiti, anchor stores such as Marisa, Riachuelo, Americanas, Tenda Atacado and McDonald's have guaranteed their presence. The project is intended for the public of classes B and C and it should achieve an average ticket of R$ 80 (US$ 44).
In downtown São Paulo, the new Shopping Largo Treze received a R$ 230 million (US$ 128 million) investment and it should be inaugurated in October this year. It is an undertaking intended for the public of classes C and D that foresees growing 30% in the first year. It is forecast an average ticket of R$ 30 (US$ 17) per person. The place will gather 400 stores, including Magazine Luiza, McDonald's, CVC, O Boticário, L'acqua di Fiori, Drogaria São Paulo, American Shoes, Chilli Beans, Casa do Pão de Queijo, Bauducco, Giraffas, Bob 's, Mister Sheik, Divino Fogão and Patroni Pizza. The shopping mall will be located at Rua Amador Bueno, 219, near bus terminals and the Largo Treze subway station.
A piece of land between the ABC and the East Side, but specifically between Ipiranga and Vila Prudente, is where the new mall of REP will be located, and it will be ready at the end of 2012, as it receives R$ 80 million ($ 44 million). The project already includes a food court, movie theaters and stores. Another project is in the Interior of São Paulo, in the region of Hortolândia, which shall also be ready in 2012, even though no date has been confirmed. The undertaking received an investment of R$ 45 million (US$ 25 million). According to Romiti, for the financing of the works the company uses its own resources, foreign investment fund and resources from the National Development Bank (BNDES).