MULTIPLAN EMPREENDIMENTOS IMOBILIÁRIOS S.A. (B3: MULT3) announces the first expansion of VillageMall, in Rio de Janeiro, divided into two phases that will add 34 new operations.
The first phase, scheduled to open in November 2017, will have approximately 1,100 m² of Gross Leasable Area (GLA) and will add five new operations to the second floor of VillageMall. The second area is scheduled to open in May 2018 with approximately 2,800 m² of GLA, distributed among 29 new operations. The new areas will seek to meet consumer demand, further improving the shopping center’s mix of stores.
After the expansion, which will add 3,800 m² of new operations and boost net GLA by approximately 2,700 m², VillageMall will have 135 stores and a GLA of approximately 28,400 m².