Brazil

GGP’s mall portfolio in Brazil is represented primarily through its partial ownership of Aliansce Shopping Centers (Bovespa: ALSC3). Aliansce is a publicly traded owner, developer and manager of regional malls and is headquartered in Rio de Janeiro.

Brazil is the largest and most populous country in South America and the region’s leading economic power. The country’s emerging middle class, abundant natural resources, energy independence and fiscal discipline provide a strong basis for long-term economic growth. In addition, regional malls account for only a fraction of the country’s retail sales, creating a very favorable supply / demand dynamic and resulting in nearly full occupancy rates, strong sales trends and income growth.

For more information about Aliansce please visit the company’s website .