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BRMALLS is the largest shopping mall company in Latin America, with a portfolio of 39 malls. Currently, BRMALLS has a total gross leasable area of 1,445.5 thousand m² and an owned gross leasable area of 876.9 thousand m², with an average ownership interest in the malls of 60.7%. Our 15 biggest shopping centers contribute with more than 70% of our NOI.
We have malls in all the country’s regions and in 2017 their sales totaled R$22.2 billion. Additionally, our portfolio is strategically diversified per income class targeting different kinds of customers. Our biggest exposure is to the middle class, segment whose purchasing power and size grows the most in Brazil.
Besides holding ownership interests in malls, we are specialized in managing them and leasing their spaces. We have experience in managing commercial developments and strong relationships with the biggest retailers in the country, facilitating the leasing process. We currently provide management and/or leasing activity for 37 our of 39 malls.
To reach our goal of becoming the biggest and the best mall company in the world we are always looking for growth opportunities, whether they come from acquisitions, development of new malls or expansions of existing malls.
We are currently developing 2 new malls. Together they will increase total GLA to 1,522.8 thousand sqm and owned GLA to 933.3 thousand sqm.