MULTIPLAN ANNOUNCES THE DEVELOPMENT
OF JUNDIAÍSHOPPING, A 34,575 sq.m.
MIXED-USE PROJECT Highlights
Rio de Janeiro, September 9th 2008 Ownership:100%
Multiplan Empreendimentos Imobiliários (Bovespa: MULT3)
announces the development of JundiaíShopping, on Avenida 9 de Total GLA: 34,575 sq.m.
Julho, in Jundiaí, São Paulo. The shopping center, in its first stage, will Capex: R$191.4 million
have 34,575 sq.m. of gross leasable area (GLA), 193 stores and
2,079 parking slots. Multiplan will own a 100% share of the mall Key Money: R$20.3 million
and will manage it. Total investments are estimated at R$191.4
million and the project’s unleveraged real internal rate of return is NOI 1st Yr: R$20.4 million
expected to exceed 18% p.a.. NOI 3rd Yr: R$25.9 million
The company has been approached by key tenants since the
announcement of the land acquisition and will now start the leasing Consumers¹: Upper/middle
process. The opening is scheduled for November 2010. class
The project will follow the company’s strategy of building mixed-
use projects, including in its master plan two office towers and a Location
expansion with over 13,000 sq.m. of GLA for future launching.
The city of Jundiaí has the 25th largest GDP* in Brazil and is
situated only 60km from the state capital, São Paulo. The land is Population²: 333,000
located in a privileged area, at a very easy-access region, in one GDP/Capita²: R$29,541
of the busiest parts of the city. Peers in area3: 0/1/0
Preliminary design of JundiaíShopping
The Land is situated in the middle of Jundiaí city and
attached to one of the main avenues (Ave. 9 de Julho) of
1 – Target: According to IBGE Income Class Segmentation
2 – Source: IBGE/2005
3 – Considering only shopping centers with 15,000 sq. m.
Mixed- Use Project: Preliminary view of JundiaíShopping and the office towers. or over at the primary (< 5 min)/ secondary (5 - 10 min) /
tertiary (10 - 15 min) area.
The following rationale was used to calculate the project’s feasibility:
The cost of the project (capex) is based on the estimated construction cost of satellite, anchor and food stores, Armando d’Almeida Neto
mall, rest rooms, parking lot and service outlets. These estimates were evaluated by the company’s technical CFO and Investors Relation Officer
department. For the purpose of evaluating project capex, these costs are not reduced by key money revenue.
Operating revenue was estimated based on different rents per sq.m. for satellite stores, anchor stores,
restaurants, fast-food stores, service outlets and leisure facilities. Leasing contract pricing were evaluated on a
Tel.: +55 (21) 3031-5224
case-by-case basis by our team of specialized brokers, based on a planned mix of stores. Fax: +55 (21) 3031-5322
The model uses a 10-year cash flow, with real annual growth of 2% after the fifth year and perpetuity with E-mail: firstname.lastname@example.org
equal growth after the end of the period, figures are subject to review and are designed to give a preliminary http://www.multiplan.com.br/ri
view of the project only.