Rio de Janeiro company invests in mall and opens office in SP
Folha de S. Paulo
The land developer and shopping mall administration company Ancar Ivanhoe intends to invest R$ 680 million (US$ 425 million) until October 2012 in the country, in new undertakings, expansions and improvements. The list includes one of the largest works of expansion of the retail of Rio de Janeiro this year, that of Nova América shopping mall, in Rio, which involves R$ 280 million (US$ 175 million). There are investments foreseen in points in São José dos Campos and Rio. Another great project, with more than R$ 280 million (US$ 175 million), should be inaugurated in 2012 in Campinas, according to the Co-President Marcelo Carvalho.
Possible acquisitions in the market are also being studied, but Ancar Ivanhoe makes no comments. With nearly forty years of operation, headquartered in Rio de Janeiro, the company - one of the few in the sector that still has not opened its capital - inaugurates this month its first Office in São Paulo. "The decision of opening the new point is due to the natural expansion of the businesses. We will go to the fifth undertaking in the State, in Campinas", says Carvalho. Last year, their malls sold R$ 6.3 billion (US$ 3.6 billion), an increase of 16.5% compared to last year, according to the entrepreneur.