We believe that by implementing our main strategies, we will improve our operational development, maximize returns for our shareholders and generate competitive advantages, thereby fueling our growth. Our main strategies are:
We believe there is still considerable room to consolidate the sector in Brazil through new malls (greenfields) and expansions. In 2015, we concluded the expansion of three of our malls, adding 13,7 thousand m² of total GLA and 13,2 thousand m² of owned GLA. We ended the year with two developments and six expansions in our pipeline that will add 146,2 thousand m² of total GLA and 102,8 thousand m² of owned GLA, a growth of 8,9% in total GLA and 10,7% in owned GLA.
In spite of benefiting from the higher growth of shopping center retail, we have always sought measures and actions that improve the performance of our malls. Therefore, we are focused in continuously extracting greater value from our portfolio.
We are always seeking means of improving our processes, by implementing the highest standards of operational and financial related excellence, through the creation of a Shared Service Center (CSC), responsible for all administrative, financial, accounting, IT and other services for our offices and malls, and through the adoption of an integrated management system (Oracle Business). Thanks to improved processes, scale gains and increased bargaining power through the centralization of purchases and the outsourcing of cleaning, security and other services, we have been able to increase the focus on our core activities.