Above R$1 billion: See how Brazil's main shopping malls performed in 2023
- ALLOS, Multiplan, and Iguatemi reported billion-dollar sales in their ventures
With the end of the first quarter of 2024, the main administrators and owners of shopping malls have released the balance sheet for the previous year, 2023. The top three companies in the segment, ALLOS, Multiplan, and Iguatemi, had a positive year, showing growth in sales.
ALLOS was the last to disclose its results. The company owns 62 shopping malls in its portfolio, with 53 owned and nine managed by third parties. In the report released last Wednesday (20), the company revealed that sales increased by 8%, reaching R$39.8 billion in 2023.
With assets in all regions of the country, the company, led by Rafael Sales, highlights that 13 malls in its portfolio sold over R$1 billion in the year, and Parque Dom Pedro and Shopping Recife, in the states of São Paulo and Pernambuco, surpassed R$2 billion in sales in 2023 alone. ALLOS ended 2023 with a vacancy rate of 3.7%.
Multiplan's portfolio consists of 20 shopping malls spread across six states and the Federal District. In the released report, the malls owned by José Isaac Peres' company recorded over R$21.9 billion in sales last year, an increase of 9.6%.
Eight out of Multiplan's 20 shopping malls exceeded R$1 billion in sales. One of the ventures is the VillageMall, located in Rio de Janeiro, which for the first time reached the billion-dollar mark. Other highlights include Morumbi Shopping in São Paulo, which generated R$2.7 billion, and Barra Shopping in Rio de Janeiro, which collected R$3.1 billion.
Another major player in the shopping mall market is the company led by Cristina Anne Betts, Iguatemi S.A., which owns 18 ventures. In 2023, the group's assets saw an 11.2% increase in sales, reaching R$18.9 billion. The company does not disclose specific data for each shopping mall.
Occupancy
Overall, the occupancy rate of the companies is similar. Iguatemi S.A.'s ventures ended 2023 with an average occupancy rate of 95.1%. The company did not disclose the results of each shopping mall individually.
Multiplan's assets have an average occupancy rate of 95.6%. The asset with the highest occupancy is ParkShopping Barigüi in Paraná, with 99.3%, and the lowest is Shopping Vila Olímpia in São Paulo, with 79.2%.
ALLOS has a slightly higher occupancy rate than its competitors. It ended 2023 with an average occupancy rate of 96.3%. The highest occupancy rates among the ventures are between Shopping Leblon in Rio de Janeiro and Shopping Campo Grande in Mato Grosso, both with 99.8% occupancy. The lowest number belongs to São Luís Shopping in Maranhão, with 73.1%.
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