We are always looking for new business possibilities, either through acquisition for restructuring and repositioning malls with operational problems, or through the conception and development of new projects.
Here are two examples:
Shopping Light was opened in 1999, in downtow São Paulo, next to the Viaduto do Chá. This project is in an old and historic building, which was the headquarters of Companhia Light. Since it was a vertical mall, it suffered from operational problems such as customer access and store vacancies, which surpassed 50% when it was acquired by SGGC, in 2010. The building has seven floors but only three had full capacity.
Upon acquiring Shopping in 2010, SGGC, in partnership with GSOB, began a complete restructuring project, including repositioning the image, updating of the brand mix, changes in store type, new layout and remodeling for a new customer circulation format.
In 2015, the mall stores had 100% full capacity, and the shopping center had an excellent flow of people through its seven floors, and it was considered the largest and most complete shopping center in downtown São Paulo. Shopping Light was acquired by a large international investment fund, which is one of the main players in the mall market in Brazil.
Following its research and market analysis, SGGC detected a significant demand in Guarulhos, the second largest city in the state of São Paulo, with around 1.5 million people. There was a shortage of shopping centers, that focused on affluent customers.
In 2011, SGGC purchased a 24,000 m² plot of land in the city, in partnership with General Shopping. The choice of location was strategic because it was in a neighborhood of strong real estate expansion.
The project also included the partnership with a developer that was the market leader in that time, for the construction of a residential condominiums to be integrated into the mall. The building would have 800 apartments that guarantees a permanent flow of affluent visitors to Parque Shopping Maia.
The first shopping mall in the city, with a complete mix of shopping, services, entertainment and restaurants.
The Parque Shopping Maia project was considered so unique and innovative that the SGGC received an offer to sell while still in the construction phase. Thus, its participation in the project was sold to a real estate fund which is one of the main national retail banks.