BRMALLS is responsible for the leasing activity of 25 of our 35 malls, which represents nearly 94% of the malls’ total NOI.

These 25 malls are spread all over the country, which requires a very well structured and organized team. We have seven leasing managers divided through the regions, and each of them responsible for the negotiation of contracts in its malls. Each manager has an average team of five leasing agents whose main focus is to lease vacant space at our malls.

Our malls excellent sales performance and highest occupancy rate in the Brazilian shopping mall industry led to an increase in tenant demand for stores. In 2009, 1,301 contracts were negotiated between renewals and new contracts at existing malls, expansions and Greenfield projects.

In 2009, our leasing team reached excellent leasing spreads on new contracts. Renewals’ leasing spread reached 13.3% and new contracts’ leasing spread, which includes Greenfield projects and expansions, reached 17.7%.

BRMALLS outstanding experience and skills in negotiating with tenants can be seen by contrasting the average leasing spreads achieved in the malls we lease to those we do not lease. In 2009, while other leasing companies reached a 7.3% spread, BRMALLS’ leasing team reached a 20.1% leasing spread.

Last but not least, the store mix planning activity enhances the long-lasting attractiveness of a shopping mall.

Besides significant time spent planning, the construction of an excellent store mix depends on the relationships with renowned brands and retail store chains.

Our size and regional diversification has allowed us to develop very close relationships with important national and regional retail stores, and thus facilitates the negotiation of contracts with them.