Shopping centres have had the worst year in its history

The sector returned to the level registered 11 years ago - the amount is close to that recorded in 2009.

The sector estimates that it will take up to three years to resume pre-covid billing and projects a 9.5% increase in 2021

01/29/2021

During the pandemic, shopping centres have recorded the most significant drop in sales in its history. There was a 33.2% retraction in tenants’ revenue in these ventures in 2020, to R$128.8 billion, the Brazilian Association of Shopping Centres (Abrasce) reported yesterday. The sector returned to the level registered 11 years ago - the amount is close to that recorded in 2009.

The vacancy rate doubled to 9.3% last year. Roughly out of every 10 points of sale, one is vacant. For comparison, this percentage is equivalent to the total of service and convenience stores in shopping centres in the country (9.2% of the base).

Source: Valor Econômico

Read full story (in Portuguese).

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