Shopping centres register a reduction in empty stores

According to Glauco Humai, president of Abrasce (Brazilian Association of Shopping Centers), the year 2022 is seen by the sector with optimism and caution

Positive indices should slow down in coming quarters, says the association

06/07/2022

Shopping centre managers have seen an increase in the occupancy rate of stores after the easing of COVID restrictions.According to Glauco Humai, president of Abrasce (Brazilian Association of Shopping Centers), the year 2022 is seen by the sector with optimism and caution.

He states that the vacancy rate is around 6.5% – the rate was approximately 10% during the pandemic. When Covid reached Brazil, many shopkeepers projected a migration scenario to high street stores, which was later accentuated by the increase in rental prices in shopping centres.

"We knew that [the high vacancy rate during the pandemic] was a momentary movement. The resumption of the opening of malls, the economy, and people's movement would make shopkeepers come back. It's has been happening every month", it says.

Read full story (in Portuguese).

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