Brazil has 658 shopping centres in operation, spread across 253 cities, according to Abrasce, the industry association. Three landlords listed on the São Paulo stock exchange hold stakes in 83 of them: Allos, Multiplan and Iguatemi. Not many, by count. Far more by floor space: together they report about 3.6 million m² of gross leasable area, close to a fifth of the 18.3 million m² recorded nationwide.
The market itself is barely moving. Brazilian malls generated 200.9 billion reais in sales in 2025, up 1.2%, while floor space grew just 0.9%. Footfall fell 1% to 471 million visits a month. Abrasce counted 10 openings in 2025 and expects 11 in 2026.
Three groups, three profiles
Allos is by far the largest. Formed by the combination of Aliansce Sonae and brMalls, it held stakes in 46 centres at the end of June 2026, with 1.934 million m² of total GLA, 1.262 million m² of it at its own share. Its tenants sold 10.5 billion reais of goods in the second quarter, and the group reports FFO up 12% year on year.
Multiplan plays a different game: fewer centres, but big ones, and ones it controls. Its 20 malls add up to 905,900 m², with an average stake of 79.7%. BarraShopping in Rio (77,861 m²), BarraShoppingSul in Porto Alegre (75,472 m²) and RibeirãoShopping (68,683 m²) lead the list. Fifteen of its twenty centres sit in the states of São Paulo, Rio and Minas Gerais.
Iguatemi stays anchored in upscale São Paulo, with Iguatemi São Paulo and JK Iguatemi. It holds stakes in 17 centres, with an average total GLA of 735,955 m² in the second quarter. It is also scaling back: its owned GLA fell 12.8% in a year after it sold stakes in Market Place and in Galleria, where its holding dropped from 100% to 51%. Occupancy: 96.9%. Tenant sales: 6.6 billion reais in the quarter, up 4.6%.
| Landlord | Centres | Total GLA (m²) | Reference |
|---|---|---|---|
| Allos | 46 | 1,934,000 | end of Q2 2026 |
| Multiplan | 20 | 905,900 | 30/06/2026, malls only |
| Iguatemi | 17 | 735,955 | mall average, Q2 2026 |
| Total | 83 | 3,575,855 | |
| Brazil (Abrasce) | 658 | 18,300,000 | end of 2025 |
What the sum hides
The calculation is rough, and it is worth saying so. The three groups do not measure their space at the same moment or in the same way: an end-of-quarter figure at Allos, malls only at Multiplan, a quarterly average at Iguatemi. Abrasce’s total dates from the end of 2025. And the sum ignores any centre the groups may co-own. The order of magnitude holds: roughly 13% of centres, roughly 20% of floor space.
So the listed landlords own the big assets and leave most of the stock to others: about 575 of the 658 centres belong to none of the three groups. For anyone selling to Brazilian malls, whether service providers, retailers or suppliers, that is where most of the decision-makers are. It is also the part of the market no annual report describes.
What our register shows
The Retail Prospect register, the shopping-centre database published by HOWEB, currently lists 206 centres in Brazil, about a third of the 658 counted by Abrasce. Fewer than 30 of them have a leasable area published by their landlord. Work is under way: every value in the register is copied from a report or an official page, with its source.