IGUATEMI EMPRESA DE SHOPPING CENTERS S.A. PRESS RELEASE
IGUATEMI ANNOUNCES A SWAP AGREEMENT FOR A PLOT OF LAND, IN THE METROPOLITAN REGION OF CURITIBA, FOR THE CONSTRUCTION OF A PREMIUM OUTLETSão Paulo, August 14th, 2015 - Iguatemi Empresa de Shopping Centers S.A. ("Iguatemi") [Bovespa: IGTA3], one of the largest full service companies in the Brazilian Shopping Mall Sector, announces a swap agreement for a plot of land, in the metropolitan region of Curitiba/PR, for the construction of a Premium Outlet.
About IFashion Outlet Curitiba
On August 12th, 2015, Iguatemi signed a swap agreement for a plot of land of 466 thousand sqm, for the construction of IFashion Outlet Curitiba, in the city of São José dos Pinhais/PR. The location has the potential to reach 60 thousand sqm of commercial area. The MasterPlan of the complex has (i) 30 thousand sqm for the phase 1 of the Premium Outlet; (ii) an area reserved for 15 thousand sqm of future expansions of the Premium Outlet; (iii) 10 thousand sqm for free standing GLA; and
(iv) 5 thousand sqm for a hotel.
PHASE I
FREE STANDING
EXPANSION
HOTEL
1
PRESS RELEASE
Iguatemi will own 42% belonging of the project, Construtora São José will own 28% and the remaining partners will own the remaining 30% (12% due to the land swap). The opening is expected for 2017.
With the construction of this project, Iguatemi consolidates the Premium Outlet market in the South of Brazil, where it has Premium Outlets (two projects and one outlet in operation) in each one of the metropolitan areas of the three state capitals of the South region.
Iguatemi has an intrinsic competitive advantage in operating premium outlets in Brasil, due to (i) its relationship with leading Brazilian and international brands; (ii) positioning of the Iguatemi brand; and (iii) its strong regional presence in the densest cities of Brazil's South and Southeast regions, which have the highest concentration of A and B income groups, and thus the highest propensity to value differentiated brands.
About the Region
The Premium Outlet is located in the metropolitan area of Curitiba, capital of the state of Paraná, in the south region of Brazil. This metropolitan area is the 2nd most populous in the South of the country and 8th of the country, comprising 29 cities, with a total population of 3.3 million inhabitants (IBGE 2008).
São Jose dos Pinhais is an important industrial hub, hosting (i) the Volkswagen, Audi, Renault and Nissan plants; (ii) the largest retail chains of the state - Grupo Super Muffato, Grupo Condor, Mercadorama (part of the Walmart Group); and (iii) Casas Bahia and AMBEV distribution centers. Additionally, the city is the home of the main airport of Paraná, Afonso Pena International Airport.
PRESS RELEASE
About the Partnership with Construtora São José
With over 30 years in the real estate industry, Construtora São José has become a benchmark in the mainly residential upscale segment and land plots. Hotels and commercial developments are also part of the company's portfolio.
Construtora São José, over the years, has consolidated itself at the design and construction of shopping centers and outlets in
Brazil, always seeking excellence in their projects.
Iguatemi Empresa de Shopping Centers S.A. ('Iguatemi') is one of the largest full service companies in the Brazilian shopping mall sector. Its activities cover the whole range of the business, from conception, through planning, to development and management of regional shopping malls, outlets and mixed-use real estate complexes with office towers. Iguatemi, already considering IFashion Outlet Curitiba, has equity holdings in 17 shopping malls, 1 premium outlet and 3 commercial towers,
with a total GLA of 714 thousand sqm; and an own GLA of 440 thousand sqm. Iguatemi participates in the management of 16 of its 17 shopping malls, its premium outlet and its office towers. It also has 3 greenfield premium outlet projects, 2 expansions, and 1 office tower in progress. Iguatemi's stock is traded on the Novo Mercado of the São Paulo Stock Exchange (BM&FBovespa).
INVESTOR RELATIONS CONTACTS:
Cristina Betts Vice-President for Finance, Investor Relations Director
Gunther Schrappe Chief Strategic Planning Officer, Investment Relations Officer
Carina Carreira
Investor Relations Coordinator
Elisa Manzato Jessica Tedesco IR Analysts
Tel.: +55 (11) 3137-6872/6877 ri@iguatemi.com.br www.iguatemi.com.br
|
distributed by
|
