Iguatemi invests BRL 232.4 million in corporate tower

Shopping center operator Iguatemi S.A. and developer Building Empreendimentos are building the Iguatemi Tower, a BRL 232.4 million corporate building next to Iguatemi Campinas. Construction began in July and delivery is scheduled for the end of 2028. The development is expected to draw between 3,500 and 4,000 workers and visitors per day to the area.

The project will have 16 floors, with 15 dedicated to offices and one housing a business center. It features 16,370 square meters of private area, floor plates of up to 1,036 square meters that can host up to four companies, more than 550 parking spots, a bicycle rack, and 13 meeting rooms for rent. The property will seek LEED Gold environmental certification.

The tower adjoins Iguatemi Campinas, the company's largest shopping center by gross leasable area at approximately 73,000 square meters. It reinforces Iguatemi's strategy of adding mixed-use projects around its retail assets to generate rental income and drive foot traffic into its malls. The company already manages four completed corporate towers, including the Sky Galleria in Campinas, which has just over 14,000 square meters and receives around 3,000 people daily.

According to Caio Teles, real estate development director at Iguatemi, the Campinas corporate market totals about 400,000 square meters, but most space falls below Triple A standards. In the second quarter of 2026, Iguatemi held a land bank of roughly 1.1 million square meters, representing potential development of about 1.56 million square meters of private real estate area.