Gazit-Globe Ltd. subsidiary Gazit Brazil has opened the group’s first development project in Brazil, the San Pelegrino Shopping Mall, at an investment of NIS 220 million.
“This marks an important step in our operation in Brazil as we continue to establish a strong presence in the country,” said Gazit-Globe president Roni Soffer.
The 14,500-square meter mall is located in Caxias do Sul, the second largest city in the southern state of Rio Grande do Sul, with 410,000 residents.
According to Gazit-Globe, the city has one of the highest per capita incomes in Brazil.
The San Pelegrino Shopping Mall was awarded the International LEED
Certificate and is Brazil’s first green shopping center in Brazil. It
was built under the Gazit-Globe’s global development strategy and
commitment to green construction.
Gazit Brazil is run by president Daniel Bernd.
Gazit-Globe’s share price edged down 0.1 percent by midday to NIS 42.05, giving it a market cap of NIS 8.49 billion.