In terms of categories, Mega Stores achieved the lowest GROCS rate at 5.49%, while the Leisure segment recorded the highest rate at 23.24%.

The GROCS index, which stands for Gross Rent Occupancy Costs in English is a widely used metric to evaluate retail efficiency in relation to the cost of occupying spaces. 

“Lower GROCS rates, especially in Class A developments and Mega Stores, are a clear indication of recovery and expansion in the retail sector. At the same time, the increase in sales per square meter demonstrates the strength and resilience of shopping center assets in Brazil,” highlighted Giancarlo Nicastro, CEO of SiiLA.

SiiLA’s analysis highlights a notable inverse relationship between GROCS rates and sales performance. In Q3 2024, all asset classes posted an increase in sales volume per square meter, further underscoring the retail sector's strong recovery trajectory.

Beyond GROCS, SiiLA’s insights encompass key indicators like occupancy costs, vacancy rates, rental values, and sales per square meter, offering a complete picture of the shopping mall landscape. These insights are exclusive to subscribers of the GROCS platform.

The shopping center market continues to grow, with notable new developments driving momentum. October saw the inauguration of Lago Center Shopping in Araguaína, Tocantins, following an investment of R$180 million.

Fernando Fonseca, Director at ABL Prime, a partner in the project, remarked: “This development not only enhances retail options in the city and surrounding areas but also establishes itself as a hub for community engagement and leisure. It reaffirms the role of shopping centers as vital spaces for culture and connection in Brazilian cities.”

SiiLA provides unparalleled access to data and analytics for the shopping center market, including detailed insights into vacancy rates, occupancy costs, rental values, and sales per square meter.