BrMalls expects to open 240 stores in its malls by the end of the year

The company has already signed around 300 contracts throughout the year.

BrMalls expects to open 240 stores in its malls by the end of the year.

08/27/2021

The BrMalls shopping center network, with 29 projects in its portfolio, expects to open 240 stores by December. The company has already signed around 300 contracts throughout the year – 170 in the second quarter alone – which shows the growing retailers' desire for space in the shopping centers, as sales recover.

In July, BrMalls operated at 95.4% of regular hours. Sales hit 91.9% of pre-pandemic levels, while consumer length of stay was 85.6% of the historical average. Only 3.7% of the area available to tenants was unoccupied.

Among the inaugurations are a Cobasi unit (Shopping Estação Cuiabá), a St. Marche (Mooca Plaza in São Paulo), two Track Field stores (Amazonas Shopping in Manaus and Del Rey Shopping in Belo Horizonte), and three Coco Bambu restaurants (Catuaí Maringá, Shopping Campo Grande, and Del Rey).

In general, BrMalls has noticed a growing trend in entertainment, gastronomy, and service operations, as well as retail for home goods, sporting goods, and personal care. The company's president, Ruy Kameyama, states that this reflects the new habits of consumers as they emerge from the pandemic, with a priority on health and well-being.

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