Carrefour Brasil has opened the first phase of the 320,000 square-metre Alto das Nações complex in São Paulo, the French retail group said in a statement.
The retailer's real estate management unit, Carrefour Property, has developed the multipurpose property in partnership with the developer WTorre.
The Alto das Nações complex comprises mixed, residential, and commercial towers, a new and modern Carrefour hypermarket, and the Paseo Alto das Nações - a new mall that will be managed by Carrefour Property.
Stephane Maquaire, CEO of the group in Brazil, said, "Alto das Nações is a major milestone in the history of the Carrefour Brasil Group.
"In addition to being the largest retail group in South America, and the largest private employer in the country, we also show our strength in the real estate area, with an innovative project, monetising and adding value to the company's assets."
Alto Das Nações Complex
The complex is located on the site of the first Carrefour hypermarket in Brazil, which opened in 1975 on Avenida Unidas in São Paulo.
The company expects 14,000 people to visit the Alto das Nações complex during the week, frequenting the mixed tower, hypermarket, and Paseo Alto das Nações.
Other retailers operating at the mall include Cobasi, O Boticário, Outback, Loterias Caixa, and Spoleto, among others.
Liliane Dutra, CEO of Carrefour Property, explained, "With more than 5,000 square-metres of gross lettable area and more than 40 stores, the shopping centre, Paseo Alto das Nações, provides convenience, service, leisure, and gastronomy options to meet the needs of hypermarket customers and residents and users of the complex.
"This new mall will create about 250 new jobs, contributing to the country's economy, in addition to benefitting society not only from the point of view of services but also practicality, where it is possible to take care of different everyday needs in one space."
According to Carrefour, it is the first initiative by the Carrefour Brasil Group to use Carrefour Property's real estate expertise to monetise its land and further enhance the company's assets.
Real-estate developer Eztec will be responsible for selling the high-end residential tower, JFL for mixed-use segment, and Altre Investimentos will be responsible for the commercial tower.
© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.