On November 30, 2014, in João Pessoa, capital of Paraíba, one of the newest buildings in the country was inaugurated. Mangabeira Shopping mall. A project of businessman and Paraiba native Roberto Santiago.
At the time of opening, the mall is estimated to have 350 thousand possible customers. Retailers were not complaining. On opening events in Mangabeira, many stores reported a turnover rate 500 percent higher than the debut of other stores in the area. This confirmed the potential volume of the new development by Santiago.
Mangabeira Shopping Mall was built in less than three years and cost almost half a billion reais to complete. The construction generated around 3,000 jobs. At the time of inauguration, Roberto Santiago stressed that Mangabeira would not interfere with his other development Manaira Shopping, an older business which opened in 1989 and is among the largest shopping centers in Paraíba and has seen five expansions since it was built. According to Santiago’s statements in 2014, the percentage of Manaira shoppers that would migrate to Mangabeira would be less than 5%. In any case, this wouldn’t make a difference since Manaíra Shopping maintains a growth in new customers between 10% and 15% a year.
Mangabeira began between 2007 and 2009. In comparison to Manaira Shopping, however, Mr. Santiago says the two are totally different projects. Manaira first opened in 1989 and attracted residents from the surrounding neighborhood. The area, which was then only houses, turned into a string of constructions and retail stores in the area surrounding the mall.
Mangabeira, in turn, would bring value to the area while giving a boost to the local economy which was already quite inhabited, however, with the overvaluation of land and houses, it would bring more socioeconomic evolution and advancement.
Currently, the mall is one of the biggest drivers of the growth in the Mangabeira area and the entire southern region of the capital of Paraíba. Born in João Pessoa, Roberto was born July 16, 1958, and studied at Pio X Marist College, a traditional university of the capital, and studied Business Administration at the University Center of João Pessoa.