In 2015, Shopping Mall Sector recorded a growth increase of 6.3 percent. This was unexpected as the country was facing economic crisis. This proves that the shopping malls sector is a potential sector that needs more investment. Currently, there are more than 540 shopping malls in Brazil and other 30 still in their development stages. There are speculations that the shopping malls might be the backbone of the Brazil’s economy. Despite the deteriorating economic conditions, malls still report high revenues, a good example being Manaira Shopping Mall, which reports at least one billion dollars turnover each financial year. Read more articles on vivamaringa.odiario.com.
The shopping mall entrepreneurs have faith that the economy will stabilize and increase with a margin of 4-5 percent this year, which will be a great favor to them. With the improving economic conditions, the Shopping Mall Sector continues to attract more investors expanding the number of malls in Brazil. The intriguing issue is that, instead of the malls getting low returns because of the stiff competition, they still report high yields. This means that there is still untapped potential in the buyers who wish to have malls close to them that serve their shopping and leisure purposes.
Urban Studies Group in collaboration with Abrasce recently carried out a survey that depicted that the sector still has room for more innovation and that it has provided job opportunities to many individuals. The study indicated that the industry had employed over 1 million people, and the number will increase with an increase in more malls. The Manaira Shopping Mall, a commercial center in Paraiba, has more than 200,000 employees thanks to the entrepreneurial mind of Roberto Santiago. The mall lies on a 75,000m2 land, and it is the leading mall with the greatest leasable area.
According to Rafael Barros, the Manaira Shopping Mall site manager, the mall has to be designed in an innovative way to allow various activities in one place without congestion and space restriction. The mall houses hotels, gymnasium, shopping malls as well as a theater. The mall recorded over two million people movement in the mall with the primary attention being the household consumption area. This means that, if more malls allow individuals a space to sell household consumption products, they will receive an increased flow of people visiting the malls.
Roberto Santiago, the owner of Roberto Santiago Manaira Shopping Mall, build the mall with a vision of opening up Paraiba giving it a new description of not only being a city with stunning beaches, but also a city with beautiful and accommodating malls. Since its inauguration in 1989, the shopping mall has undergone five consecutive expansions as the number of people visiting the mall increased. Of all the five commercial shopping malls in Paraiba, Manaira Shopping Mall is the biggest and tops in returns. Roberto encourages entrepreneurs to invest more in shopping malls as the returns are worth the investments. Read more articles on pbnews.com