Published:
Multiplan Announces the Development of JundiaiShopping
RIO DE JANEIRO, Brazil, Sept. 10 /PRNewswire-FirstCall/ -- Multiplan
Empreendimentos Imobiliarios S.A. ("Multiplan") (Bovespa: MULT3), the largest
Shopping Mall company ofBrazil in terms of revenue, aligned with its strategy
of maximizing its shareholders' return, announces the development of
JundiaiShopping, on Avenida 9 de Julho, in Jundiai,Sao Paulo.
The shopping center, in its first stage, will have 34,575 sq.m. of gross
leasable area (GLA), 193 stores and 2,079 parking slots. Multiplan will own a
100% share of the mall and will manage it. Total investments are estimated at
R$191.4 million and the project's unleveraged real internal rate of return is
expected to exceed 18% p.a.
The company has been approached by key tenants since the announcement of
the land acquisition and will now start the leasing process. The opening is
scheduled for November 2010.
The project will follow the company's strategy of building mixed-use
projects, including in its master plan two office towers and a expansion with
over 13,000 sq.m. of GLA for future launching.
The city of Jundiai has the 25th largest GDP inBrazil and is situated
only 60km from the state capital,Sao Paulo. The land is located in a
privileged area, at a very easy-access region, in one of the busiest parts of
the city.
CONTACT:
Armando d'Almeida Neto
CFO and IRO
Tel: +55 (21) 3031-5224
Fax: +55 (21) 3031-5322
E-mail: ri@multiplan.com.br
Website: http://www.multiplan.com.br/ir
SOURCE Multiplan Empreendimentos Imobiliarios S.A.
Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze,
Daily NewsTags: ,REA,PDT,WOM,Multiplan-JundiaiShop
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