Brazil: Sonae Sierra invests 300 million reais in new mall

5 August 2008

Sao Paulo, 5 Aug – Sonae Sierra Brasil announced Monday that it will build its 13th retail mall in Brazil in an investment worth 300 million reais.

The new mall, scheduled to open in 2011, will be located in the city of Goiania, capital of Goias state, the second most populous state in Brazil’s central-western region with 1.3 million inhabitants.

With the announcement of its latest retail venture, Sonae Sierra Brasil has four similar undertakings in development. The group has already announced construction of shopping malls in Londrina, in the state of Parana, and at Uberlandia in Minas Gerais state.

The Manaura Shopping mall will be opened in the first half of 2009 in Manaus, capital of the northern state of Amazonas.

The Goiania mall will cover an area of 78,500 square meters with 260 shops, restaurants, a hypermarket, cinema and a car park for 5,700 vehicles.

The new mall’s sole investor is Sonae Sierra Brasil, whose shareholders are Portugal’s Sonae Sierra and Developers Diversified Realty of the United States.

Sonae Sierra Brasil currently operates nine retail malls in Brazil at Penha, Plaza Sul, Campo Limpo, Boavista, Franca, Santa Bárbara do D’Oeste, Sao Bernardo do Campo and Campinas, in Sao Paulo state, and in Brasília, with a combined area of 321,500 square meters. (macauhub)