RIO DE JANEIRO, BRAZIL--(Marketwire - October 1, 2009) - BR Malls Participações S.A.(BOVESPA: BRML3), the largest integrated shopping mall company in Brazil, announces the inauguration of the 3rd expansion of Norteshoppping, which added 1,146 m2 of GLA to the mall. BRMALLS, which manages the mall, was responsible for developing the project, managing the construction and leasing the stores.

Norteshopping is located in a central area of the north side of Rio de Janeiro, close to areas of big flows of people and cars, that is home to a substantial part of the population with medium purchasing power. Nowadays, the average flow of consumers is 2.5 Millions per month, among which 66% can be classified as middle and upper middle class. Such flow can be noticed observing the historical total sales, that presented an annual growth (CAGR) of 16% since 2005.

Since its inauguration in 1986, Norteshopping has gone through two great expansions. The first added 31,000 m2 of GLA in 1996, through the opening of 30 stores, two cinema rooms and an anchor, C&A. The second one was inaugurated in 2007, Pátio Norteshopping, a leisure area with 33,000 m2, implementing the lifestyle center concept in Brazil.

The new expansion is the mall's third expansion and added 1,416 m2 of owned GLA, that includes 14 satellites, 2 restaurants and one megastore, consolidating the mall mix. The new area also has a Riachuelo store, the biggest store of Riachuelo's chain, which was reallocated to the new area.

Moreover, above the mall's expansion area is being built a commercial tower by Cyrela, the co-owner of the land. The tower will be inaugurated in November 2009 and will have 10 floors with a total of 360 offices, all of them sold on the first day, even before the launching event.

The expansion of NorteShopping, which required from BRMALLS an investment of R$11 million, added 1,146 m2 of owned GLA and has an estimated real and unleveraged IRR of 19.3%, contributing with R$1.9 million in stabilized NOI.


BRMALLS is the largest integrated shopping mall company in Brazil, with a portfolio of 34 malls, comprising 1.0 million m2 of gross leasable area (GLA) and 437 thousand m2 of owned GLA. BRMALLS is the only shopping mall company in Brazil with a nationwide presence and targeting all income segments.

Contact Information: Antonio Quirino BRMALLS Investor Relations Work: +55 21 3138 9992 Cell: +55 21 8152 2140 BB: +55 21 9461 1404 Email: Website: