Strategy and Competitive Advantages

Competitive Advantages

Aliansce’s competitive strengths include:

Developer profile

Between 2006 and the beginning of 2014, Aliansce has developed and opened fourteen malls—Shopping Leblon, Bangu Shopping, Santana Parque Shopping, Caxias Shopping, Boulevard Shopping Brasília, Floripa Shopping, Boulevard Shopping Belém, Boulevard Shopping Belo Horizonte, Boulevard Shopping Campos, Parque Shopping Belém, Boulevard Shopping Vila Velha, Boulevard Shopping Nações Bauru, Parque Shopping Maceió and Shopping Parangaba, — that together have 440,000 square meters of gross leasable area. The Company’s senior managers were responsible for the development of more than eighteen malls in a period of twelve years.

Shareholders and management with long-standing experience of the sector and fully committed to the highest standards of corporate governance

Aliansce’s leading shareholders combine tradition with success, knowledge and experience in the national shopping mall industry with an accurate global view of investments. Renato Rique, one of the Brazilian shopping mall pioneers, is Chairman of the Board of Directors. CPPIB manages one of the largest pension funds in the world, which totaled R$264.6 billion in 2015.

Diversified portfolio with strong growth potential

The Company’s shopping centers have a low rate of vacancy and strong growth potential.

Wide geographical reach and a footprint in all income segments

Aliansce manages 28 malls in Brazil, including those in which the Company has ownership interests, and is present in different-sized cities in all regions of Brazil. Its portfolio includes malls targeted to customers at all income levels. This strategic positioning allows the Company to: (i) capture opportunities in a variety of markets with strong growth potential; and (ii) have a commercial network with the majority of the retailers in Brazil and offer a single national distribution channel for major retail chains.

Growth with discipline and efficient capital structure

Aliansce’s investment philosophy is focused on consistent and low-risk projects, which has helped to develop successful malls. The Company’s investment philosophy seeks to take advantage of and identify opportunities with potential and a low-risk profile, as demonstrated by the low vacancy rate in our malls.

Solid operational and financial management

To expand its revenues, the Company’s management continually seeks to increase the value of its assets, through strict cost control, improvements and upgrades of architecture and constant adjustments to the mix of stores in accordance with market trends.


Aliansce plans to continue to increase profitability and increase its presence in the shopping mall industry to create value for its shareholders. The Company’s central strategies to achieve these goals are as follows:

Develop new shopping centers and expand shopping centers in which the Company already has an ownership interest

Aliansce pursues solid growth targets, which are consistent with market opportunities, by means of developing new shopping centers or expanding shopping centers in which the Company holds ownership interests.

Increase Aliansce’s ownership interests in its shopping centers and acquire ownership interests in additional shopping centers

The Brazilian shopping mall industry is fragmented; the six largest companies in the sector together have a market share of approximately 25% in terms of gross leasable area. Aliansce intends to increase its ownership interests in its malls and acquire interests in malls where the Company does not currently have an interest, or in companies that are active in the sector.

Continue to be at the forefront of the shopping center industry

Aliansce intends to continue to be at the forefront of the sector, anticipating market trends. The Company was pioneer in the development of malls outside the largest Brazilian cities, as well as malls targeting middle- and low-income customers. Aliansce believes its innovative approach and extensive knowledge of the business have contributed significantly to it being considered as a preferred partner by important groups active in the development of malls.

Implement mixed use projects

The Company believes that developing mixed use projects in the vicinity of its malls, including office towers and residential buildings, may increase the revenues and the attractiveness of its assets.

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