In the main Latin American market, the multinational innovation company reinvents shopping centers by incorporating PAL projects in 11 malls and entering Sao Paulo, the fourth-largest city in the world.
Crystal Lagoons signed two mega-agreements to develop 23 new real estate and Public Access Lagoons™ projects, also known as PAL™, in different states of Brazil, including Sao Paulo, whose capital is the fourth-largest city in the world. These new contracts further consolidate the presence of Crystal Lagoons in this country, where it will be involved in projects with shopping centers, with an overall portfolio of 45 projects in different stages of development and negotiation in partnership with leading local developers.
The relevance of one of these major contracts is that the multinational innovation company enters the Brazilian retail sector with 11 public access complexes in partnership with two of the most important chains in this industry in Brazil, Iguatemi and Grupo Ivanhoe de Ancar, and in association with Outlet Park, a holding with extensive experience in the local retail sector.
These projects will be located in the states of Mato Grosso, Mato Grosso Sul, Paraná, Minas Gerais, Goiânia, and Goiás. The first PAL™ complex will be developed in Belo Horizonte, featuring a crystalline lagoon, white sand beaches, and a shopping center, to which will be added hotels, spaces for trade fairs, multifamily areas, restaurants, weddings, multiple stages, terraces, amphitheaters, among other infrastructure according to each development.
“This model will be replicated in all projects, aiming to enhance and improve the experience in shopping centers that must reinvent themselves and compete with e-commerce. In Brazil, we confirm that PAL™ projects are becoming the new ‘anchor’ stores in malls. They provide an optimal response to the modernization needs of these commercial giants to remain points of social integration and entertainment,” explains Miguel Ángel Cabañas, Regional Director for Latin America and the Caribbean at Crystal Lagoons.
The other mega-contract further consolidates the presence of Crystal Lagoons in Brazil, entering the wealthiest state in the country, Sao Paulo, with 12 real estate and PAL™ projects in partnership with the ECIPSA group, one of the most important real estate holdings in South America, with 45 years of experience and operations in Argentina, Paraguay, and Brazil. This company is expanding internationally, alongside Crystal Lagoons, with projects already underway in Israel, and it is also advancing to enter countries in America and Asia.
“We are proud to be able to bring a technology such as Crystal Lagoons® to Brazil’s main state, offering a unique value proposition for the people of São Paulo, who, in addition to the revaluation of the land, will be able to enjoy it with their families 365 days a year in a sustainable manner,” said Jaime Garbarsky, President of ECIPSA Group.
The most relevant projects of Crystal Lagoons in this country include “Brasil Beach Cuiabá Home & Resort” located in Mato Grosso, featuring the first crystalline lagoon in Brazil, and the luxurious second-home complex “Ponta da Figueira,” in partnership with Melnick-Even, one of the most important developers in the country.