Aedas, in conjunction with Davis Brody Bond Brazil, has been appointed to design a major new shopping center in Aracatuba in Brazil.
The 120,000 m² scheme is located on the fringe of the town center and will incorporate retail and entertainment, including parking, food and cinema operators. Around 25% of space will be allocated to hotels and will provide opportunities for speculative commercial office development.
The scheme will be submitted for planning in June 2012. Subject to approval, the center is due to open in 2015 following a two-year construction period.
Aedas has been actively targeting Brazil as an emerging market. The rise in the number of shopping centers in the country over the last two years has been spectacular. There are currently 430 shopping centers in Brazil, with a further 43 expected to open by the end of 2012, by which point the number of malls will have risen by 40% since 2005. The sector's growth has been fuelled by a number of factors including the 2014 World Cup and 2016 Olympics, continues to present opportunities.
Marcus Wilkins, UK-based Director at Aedas and head of the team that is working on the scheme said: "The development of this site will act as a catalyst for a major regeneration initiative that aims to expand the core of Aracatuba city center and we are delighted to be part of such a strategic and positive expansion phase.
"Not only is the potential of the marketplace extremely exciting, the approach to design is thrilling too. The Brazilians are seeking designs that deliver a full shopping destination experience to customers of all ages that becomes a full experience compared to traditional retail stock."
Aedas has designed around 25 million m² of retail and leisure space across Europe, the Middle East and Asia. The team is currently also currently looking at retail malls in Saudi Arabia, Basra and Pakistan.
Aracatuba is located in the northwest of Brazil, around 500 km from Sao Paulo and has a population of some 185,000.
Source: MJ2 Limited