Aliansce Shopping Centers Announces New Mall Development in Belem, Para

RIO DE JANEIRO, July 13 /PRNewswire-FirstCall/ -- Aliansce Shopping Centers S.A. (Bovespa: ALSC3) announces an agreement to develop a shopping mall located in Belem, in the state of Para.

Belem is the second-largest city in Brazil's North, with a population of 1.4 million and the highest Human Development Index (HDI) among the region's state capitals. The city's metropolitan area has a population of 2.1 million. In relation to other cities its size, Belem has one of the lowest ratios of gross leasable area (GLA) per capita, demonstrating the region's low penetration of malls and that room exists for yet another Aliansce mall development in the city. The mall's site has total area of 58,000 m2 and its construction potential allows for including a multi-use project in the development, such as commercial towers. The site where the mall will be built is located in a region of the city that has been presenting high growth rates in recent years and where various real estate companies from all over Brazil are launching new residential developments.

The project has GLA of approximately 23,000 m2, 170 stores, including five anchor stores and five mega stores, a movie theater, a leisure area and 1,200 parking spaces. "We expect to announce soon the anchor and mega stores included in the development. Brazil's major retail groups have already shown an interest in having operations in the mall," said Ewerton Visco, the regional director of Aliansce Shopping Centers.

Aliansce will have a 50% interest in the development and will be responsible for the mall's planning, commercialization and administration.

The mall is expected to generate operational income of R$15.8 million in its third year of operations, for an unleveraged IRR of 17.4%. The total expected investment is approximately R$ 127 million.

The project strengthens our operations in Brazil's North region, especially in the city of Belem, where in November 2009 we inaugurated the mall Boulevard Shopping Belem.

Full Notice to the Market is available on Aliansce's IR website: http://www.aliansce.com.br/ir

SOURCE Aliansce Shopping Centers S.A.

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