With Focus on Revenue, Shopping Aricanduva and Novo Shopping Ribeirão Preto Introduce Paid Parking

From an economic perspective, the move makes sense. For example, Shopping Jardim Sul generated R$ 1.1 million in parking revenue in July. Over seven months, total revenue reached R$ 7.5 million. The asset is Class A and has just over 1,000 parking spaces. 

Shopping Penha, a direct competitor of Shopping Aricanduva in São Paulo’s east zone, has 1,400 spaces and earned R$ 512,000 in July.  

Considering Shopping Aricanduva’s 10,000 spaces and a fee of R$ 18 per three hours, a simple calculation shows that, at full capacity, the mall could generate up to R$ 720,000 in a single operational day (10 a.m. to 10 p.m.), without accounting for motorcycles, Estapar’s share, or variations in average stay. 

Parking represents a significant revenue stream. For instance, within Multiplan’s portfolio of 20 shopping centers, 11.4% of total gross revenue comes from parking. In Q2 2025, parking revenue reached R$ 84.4 million, a 17.3% increase from the same period in 2024. 

Within Iguatemi’s portfolio, parking generated R$ 71.8 million in Q2 2025, accounting for 15.8% of gross revenue and a 33.6% year-over-year increase. 

Although the introduction of parking fees at Shopping Aricanduva and Novo Shopping Ribeirão Preto drew criticism from customers on social media, parking remains a profitable business component, contributing significantly to the malls’ overall revenue.