In November 2014, one of the most contemporary architectural developments of the country was inaugurated in João Pessoa, Paraíba – The Mangabeira Shopping. The 58-year-old business mogul, Roberto Santiago, developed it. With estimated 350,000 customers at the time of inauguration, the mall has seen tremendous growth over the years. On launching the great Mangabeira, some stores recorded revenue five times higher than that of other store launches in the country. This massive purchasing power endorsed the potential spending of the new Mangabeira shopping mall.
Mangabeira shopping took two and a half years to complete the entire development. Santiago spent over half a billion reais on the project. During the construction, nearly 3,000 jobs were created. Upon its completion, Santiago expected more job creations in the store’s operations as well as the cleaning and landscaping jobs for the Joao Pessoa residents.
Roberto Santiago also promised that Mangabeira would not meddle with his other successful Manaira Shopping Mall. Manaira was developed in 1989; it is one of the biggest shopping malls in Paraíba. It has undergone five major extensions since it was constructed. According to the 2014 customers’ reviews, Manaira shoppers migrating to the new Mangabeira shopping barely reaches 5%. Manaíra Shopping has maintained a customer growth averaging 10% -15% annually.
The idea behind developing Mangabeira was realized in 2007/ 2009. When compared to Manaira Shopping, Santiago says the two malls differ entirely in the urban social facet. Urbanization sprang up in 1989 to the residents of Manaíra. The region that was majorly a residential housing area later grew with commercial buildings and stores in the Manaira neighborhood. The city grew around Manaira, commonly referred to as the shopping mall. Read more articles on exame.com
Mangabeira, on the other hand, raised the value of the region, from an economic standpoint in 2014. The area was already populated, with overvaluation of property. It was projected as a superior socioeconomic progression and the economic empowerment of the local people. Currently, the Mangabeira Shopping is one of the biggest advocators of the district’s development and the entire southern region of Paraíba.
About Roberto Santiago
Roberto was born in João Pessoa on July 16, 1958. He attended the Pio X-Marist College, and later graduated with a Business Administration Hons at (UNIPÊ) University Center of João Pessoa. Santiago started with a job at Café Santa Rosa. He then ventured into business and started a cartonage manufacturing and distribution company. Santiago felt that the property market was ideal at the time. He sold his business and ventured into the real estate business, which has made him billions of reais to date. Read more on Mundo Do Marketing