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Iguatemi Empresa de Shopping Centers SA : IGUATEMI OPENS THE EXPANSION OF THE PRAIA DE BELAS MALL

11/27/2013 | 03:04pm US/Eastern


Press Release

IGUATEMI OPENS THE EXPANSION OF THE PRAIA DE BELAS MALL

São Paulo, November 27, 2013 - Iguatemi Empresa de Shopping Centers S.A. ("Iguatemi") [Bovespa: IGTA3], one of the largest full-service companies in the Brazilian shopping mall sector, announces the opening of the expansion of the Praia de Belas Mall, in the city of Porto Alegre / RS, in the southern region of Brazil.

About the Praia de Belas mall

On November 25, 2013, Iguatemi inaugurated the 3rd and final phase of the expansion of the Praia de Belas Mall in the city of
Porto Alegre / RS. Together, the three phases of the expansion added 17,624 m² of GLA, which went from 30,081 m² to
47,705 m² of GLA.
The 3rd phase of the expansion adds a new floor with 47 new operations to the mall. In line with Iguatemi´s strategy of always offering a complete and innovative mix, the expansion brings several new and different retailers to the city, such as: Fórmula Academia, Livraria Cultura, Harley-Davidson, a Nike flagship store, Dudalina, Havaianas, Le Lis Blanc, John John, You Com, Prüne, Track & Field, Victor Hugo and many others.
Over the past few years, the Praia de Belas Shopping underwent an intense remodeling. Today, after the completion of the three phases of expansion, the mall inaugurated a new complex with six movie theaters, five new anchor stores and a new floor of stores (as well as expansion of several operations like Renner, Marisa and Paqueta Esportes). In addition, the complex has gained a new parking deck with 1,600 new parking spaces (connected to the mall through an panoramic walkway), and a new theater that will soon be inaugurated.
The surrounding area of the mall is undergoing intense densification with the construction of several commercial towers. Since
2007, Iguatemi conducted several exchanges of PSV for the construction of six commercial towers. One of them has already been opened (Praia de Belas Prime Offices in 2010) and the remaining will inaugurate in the end of 2014, adding more than
128 thousand square meters of commercial area in the vicinity of the mall (As we have strengthened for several quarters, our properties have a very high potential for verticalization, which increase the IRR and create synergy for our malls).
This expansion will provide an important boost to the sales and revenues growth of the mall, and is aligned with the company´s strategy to strengthen and constantly improve its existing assets and to have the best assets in the best locations.

Technical Information

Opening date

11/25/2013

GLA Expansion

17,624 sqm

Total GLA

47,705 sqm

Iguatemi Stake

37.8%

Management

Iguatemi

1



Press Release

Press Release

About Porto Alegre

Porto Alegre is the capital of the southern Brazilian state of Rio Grande do Sul, and is one of the largest cities in the country. It has a population of more than 1.4 million, and gross per capita annual income of approximately R$ 31,000 (IBGE 2010). The State of Rio Grande do Sul has the country's 7th largest regional economy, contributing more than R$ 43 billion to Brazilian GDP. Due to its location, Porto Alegre has become one of the key cities in the Mercosul free trade area, and a focal point for growing companies in the Southern Cone of the South American continent. It is considered to be the most important industrial
center in the South of Brazil.

About

Iguatemi Empresa de Shopping Centers S.A.

Iguatemi Empresa de Shopping Centers S.A. (Iguatemi) is one of the largest fall-service companies in the Brazilian shopping malls sector. Its activities cover conception, planning, development and management of regional shopping centers and mixed-use real estate complexes, including commercial tower blocks. It has interests in 15 shopping malls, one outlet and 3 office towers, with total GLA of more 613,000sqm, its owned GLA totaling 380,000sqm. It takes part in the management of 14 of its malls, its outlet and its tower blocks.

It also has 2 shopping malls and one commercial tower in development, and 3 expansions in progress at its existing malls.

Iguatemi's shares are listed on the Novo Mercado of the São Paulo stock exchange (Bovespa) under the ticker IGTA3.

INVESTOR RELATIONS CONTACTS: Cristina Betts

Vice-President for Finance, Investor Relations Director

Gunther Schrappe

Chief Strategic Planning Officer, Investment Relations Officer

Cecília Viriato

Investor Relations Coordinator

Bruno Carobrez

IR Analyst

Tel.: (11) 3137-6877 / 6872

Email: ri@iguatemi.com.br www.iguatemi.com.br

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