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With Focus on Revenue, Shopping Aricanduva and Novo Shopping Ribeirão Preto Introduce Paid Parking
- Latin America’s largest shopping center joins Novo Shopping Ribeirão Preto in implementing parking fees, a move criticized by customers but increasingly important for revenue generation.
By: SiiLA News
09/29/2025 Recently, Latin America’s largest shopping complex, Shopping Aricanduva, announced it will start charging for parking as of October 1, 2025. The parking operations will be managed by Estapar.
In a statement, Shopping Aricanduva said the decision aims to improve infrastructure and revitalize its parking facilities.
“Shopping Aricanduva informs that Estapar will take over the management of parking starting October 2025. Planned improvements include upgrades to entry and exit systems for faster ticket validation, revitalization of car and motorcycle parking areas, and enhanced signage to provide greater comfort to both customers and retailers. Terminals will be installed across all three shopping areas,” the statement reads.
Another major shopping center adopting parking fees is Novo Shopping Ribeirão Preto, starting in November. Both shopping centers are controlled by Savoy.
Real Examples
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.
Financial Importance of Parking
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.
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