One of Grupo Carrefour’s competitive advantages is that it operates under a model of owned real properties, which ensures a competitive advantage in the long run. We own 167 out of 193 cash & carry wholesale and delivery wholesale stores, and 73 out of 100 hypermarkets. The Company’s Property division manages the portfolio of real properties used in the retail segment, a portfolio of approximately 2,042 lessees in 139 galleries, and three shopping malls with a gross leasable area (GLA) of roughly 300,000 square meters. At the end of 2018, this area recorded net operating revenue of R$202.9 million deriving from property leasing.
With operations in the Retail segment, the Property Division also manages store renovations by coordinating and executing development projects and construction works. Additionally, this division ensures the value and overall potential of our properties are optimized, largely through strategic third-party partnerships that function to increase traffic and customer satisfaction at stores. Currently, the Property Division is seeking partners who share Carrefour’s commitment to the dissemination of healthier food habits.