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We believe that implementing our principal strategies will improve our operational development, maximize profitability for our shareholders and generate competitive advantages. Our main strategies are:
Increasingly expand existing shopping malls and develop new shopping malls
The Brazilian shopping mall sector is underdeveloped in terms of quantity of malls, total gross leasable area and gross leasable area per inhabitant when compared to other countries. Therefore, there is still vast opportunity for new malls and expansions. Our strategically diversified portfolio of shopping malls with respect to both geographic location and income and our operations experience are very important competitive advantages for our growth strategy in terms of new developments. Our nationwide presence allows us to closely monitor the developments in different regions, knowing the right time and opportunities to invest in expansions or new malls;
Constantly search for attractive growth opportunities via acquisitions
We believe that there is still room for the sector to grow through consolidation, since the Brazilian mall market is very fragmented, with the eight top players in the sector accounting for only 40% of its total gross leasable area. Given this, one of BRMALLS` main strategies is also to grow through acquisition, increasing market share in the sector. Our national presence and close relationship with others in the sector are essential for identifying acquisition opportunities.
Continually extract value from existing assets
In the last few years, Brazilian retail sales have grown significantly explained in part by the growth of the middle class and its purchasing power. We believe that we can benefit from this trend by finding new ways to attract new customers to our malls and consequently increasing traffic of customer and sales. In addition, we are always trying to diversify our revenue sources, such as charging for parking lot in certain malls we don’t charge already, renting mall common areas for special events and renting out kiosks.
Focus on improving efficiency
Better than growing is growing efficiently. We look for ways to improve our processes, through the implementation of excellence standards in our operations, finances and personnel, through the creation of a Backoffice, responsible for all administrative, financial, accounting, IT and other services for our offices and our shopping malls, and through the adoption of an integrated management system (Oracle Business) in the company. We have been able to better focus on our core activities by improving our processes, centralizing mall purchasing to gain scale and procurement power, and outsourcing facilities management to specialists.