Ancar Ivanhoe

What Ancar Ivanhoe does

Ancar is a Brazilian shopping center management platform operating 23 shopping malls totaling approximately 950,000 m² of gross leasable area across all five regions of Brazil, including São Paulo, Rio de Janeiro, Ceará, Rio Grande do Norte, Rio Grande do Sul, Rondônia, Mato Grosso, Minas Gerais, and the Federal District. Founded in 1973 and operated as a joint venture with CDPQ (Caisse de dépôt et placement du Québec), the company rebranded from Ancar Ivanhoe to Ancar in January 2026 and serves three primary constituencies: retail tenants (lojistas), consumers, and property investors, with a stated secondary community-impact mission. The platform anchors retail operations through an integrated technology stack comprising an AI-powered CRM, real-time IoT-based water and energy monitoring (deployed across 80% of assets), and digital tenant tools including Painel do Lojista (sales analytics dashboard), Hub do Lojista (centralized tenant hub), QOP (no-code inventory app), and Portal de Inovação. Complementing the technology layer is Anima Ancar, a proprietary experience unit operating 14 immersive leisure spaces totaling over 40,000 m², and Universidade Ancar (UAI), a tenant training program reaching 17,000+ merchants.

The company generates revenue through four primary streams: (1) mall rental and lease income from leasing retail space using fixed rent plus percentage-of-sales overage structures; (2) media and advertising sales through the Quero Anunciar platform; (3) mall management and administration fees on behalf of property owners and investor pools; and (4) event and experience revenue from proprietary Anima Ancar venues, theaters, and cinemas. Pricing is quote-based and varies by mall location, ABL size, tenant category, and sales performance. The go-to-market combines direct relationship-based leasing (Quero Ser Lojista inquiry system), co-investment and management partnerships (exemplified by the December 2025 Midway Mall integration via an investor pool), and a thought-leadership motion anchored by the annual PÓS-NRF industry journey. Operational scale metrics include R$17.5-20 billion in annual tenant sales, 200 million+ annual visitors, 40 million annual vehicle traffic, 96.7% occupancy (a 10-year high), and 1.7% net delinquency. Recognition includes MIT Innovative Workplaces, 18 consecutive years of Great Place to Work certification, GRESB 4-star (67 points), and ICSC Design Innovation Award.

Name

Ancar Ivanhoe

Legal name

Ancar

Website

https://ancar.com.br

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Ancar is a Brazilian shopping center management platform operating 23 malls totaling 950,000 m² of leasable area across all five regions of Brazil, serving 5,000+ retail tenants, 200M+ annual visitors, and CDPQ as joint-venture partner through AI-driven CRM, IoT monitoring, and proprietary Anima Ancar experience spaces.

Ownership category

akta.pro rank

Headquarters

HQ city

Rio

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Mall Rental and Lease Income: Primary revenue from leasing retail space (Área Bruta Locável/ABL) to retail tenants (lojistas). Generates recurring rental income based on fixed rent plus percentage of sales (overage).
2. Media and Advertising: Revenue from advertising placements and media partnerships within shopping mall common areas and digital platforms.
3. Mall Management Fees: Fees earned from administering and managing shopping malls on behalf of property owners and investor pools.
4. Event and Experience Revenue: Income from proprietary experience spaces (Anima Ancar), events, and entertainment venues including theaters and cinemas.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Ancar manages and operates a portfolio of 23 shopping centers across all five regions of Brazil, providing retail space leasing, mall administration, tenant support tools, and proprietary experience spaces. The company functions as an integrated platform connecting brands, retailers, and consumers, generating R$17.5 billion in annual sales across approximately 950,000 m² of gross leasable area with 5,000+ tenants and 200M+ annual visitors, achieving 96.7% occupancy and 1.7% net delinquency.

Product overview

Ancar is a shopping center management and investment platform operating 23 shopping malls across all five regions of Brazil. The company functions as an integrated platform connecting brands, people and innovation, offering comprehensive retail solutions including physical mall management, proprietary experience spaces (Anima Ancar), digital tools for merchants (Painel do Lojista, Hub do Lojista, QOP), consumer relationship platforms, training programs (Universidade Ancar/UAI), and innovation portals. The ecosystem is anchored in data-driven decision making, AI-powered CRM, and a network of 17,000+ merchants operating across approximately 950,000 m² of gross leasable area, generating R$20 billion in annual sales and attracting 200 million visitors per year.

Differentiator

Problem solved

Functional benefit

Brands

• Anima Ancar: Unit of business that develops proprietary authorial experiences and immersive events, transforming shopping centers into entertainment and coexistence destinations.
• Universidade Ancar (UAI)
• Junga Park

Products and services

• Ancar Shopping Center Management Platform Comprehensive shopping center management platform operating 23 malls across Brazil, connecting brands, tenants, and innovation. Manages approximately 950,000 m² of gross leasable area, hosts 5,000+ retail tenants, generates R$17.5 billion in annual sales, and serves 200M+ visitors. Delivers leasing, mall operations, data intelligence, digital tenant tools, and integrated experience design.
• Midway Mall Flagship shopping center in Natal, Rio Grande do Norte, integrated into Ancar's portfolio as one of the most relevant retail centers in the region, with 300+ stores across 65,000 m² of ABL.
• Anima Ancar Proprietary experience unit developing authorial immersive experiences and leisure spaces across 14 venues totaling over 40,000 m², transforming shopping centers into entertainment and coexistence destinations and doubling visitor dwell time. Acts as a wholly-owned core subsidiary.
• UAI (Universidade Ancar) — Tenant Training Program Training and education platform reaching 17,000+ retail merchants, combining capacity building, digital tools, and AI application to support business management and competitiveness of tenants across all Ancar malls.
• Junga Park Proprietary urban park and tree climbing attraction dedicated to the children's audience, expanding family leisure offerings at Ancar shopping centers.
• QOP (Gestão de Estoque na Palma da Mão) No-code mobile application for digital inventory management that computerizes stock control processes, replacing manual paper-based tracking and delivering material and cost savings for shopping center operations.

Quantifiable outcome

• 96.7% occupancy rate - best in 10 years
• +11 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature7 records

Partnerships

Seven partnerships are on record, tiered minor.

• Vinci (Vinci/Midway Mall)minorOthers · 15 June 2026Brazil's antitrust regulator Cade approved a merger involving shopping mall operators Ancar, Vinci, and Midway Mall, determining the transaction would not substantially reduce competition. Terms were not disclosed. Ancar already integrated Midway Mall into its portfolio in December 2025.
• FFX GroupminorStrategic or Co-development PartnerFFX Group provided curation for Ancar's annual Pós-NRF 2026 industry journey, translating retail trends from New York's Retail's Big Show to the Brazilian market through a 9-city tour.
• Junior Achievement BrasilminorStrategic or Co-development PartnerAncar supports Junior Achievement, one of the world's largest organizations focused on preparing young people for the future of work through entrepreneurship and financial education programs.
• Rede Cruzada (Shopping Nova América)minorStrategic or Co-development PartnerCentennial educational institution partnering with Ancar at Shopping Nova América to manage the 'Plantando o Amanhã' project promoting critical thinking and citizenship for children and adolescents.
• Creche Santa Marcelina (Porto Velho Shopping)minorStrategic or Co-development PartnerLong-standing partnership since 2008 (before shopping inauguration) supporting early childhood education and development for children ages 1-3 at Porto Velho Shopping.
• Espro (Educação Social para o Trabalho)minorStrategic or Co-development PartnerPartnership through Programa Horizontes providing training and inclusion of young people in the labor market, combining technical skills with personal development.
• Instituto Federal (Escola Técnica de Brasília)minorStrategic or Co-development PartnerPartnership at Shopping Conjunto Nacional for Projeto Ibiacy PAN, connecting children, youth, and seniors to organic farming in schools and institutions.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Others

• JLL (Jones Lang LaSalle): Global real estate services firm with significant retail leasing and property management advisory in Brazil. Comparable as an enabler/adjacent services provider in commercial real estate rather than a mall owner/operator.
• CBRE Group: Global real estate services and investment firm active in Brazilian retail real estate brokerage and valuation. Adjacent to Ancar as a real estate services provider rather than a mall competitor.

Direct peers

• Multiplan: Brazil's largest publicly traded shopping mall operator with a portfolio of more than 20 malls across the country. Closely comparable as a Brazilian mall landlord/operator with overlapping geographic footprint and similar reliance on rental income and tenant sales.
• Sonae Sierra: Iberian-headquartered shopping center developer and operator with meaningful Brazilian operations. Comparable as a developer-operator with active mall portfolio and similar reliance on mixed-use retail experiences.
• Allos (formerly Aliansce Sonae + BR Malls): Brazilian shopping center operator formed by merger of Aliansce Sonae and BR Malls, now one of the largest in the country with a diversified portfolio. Directly comparable as Brazilian mall operator with similar scale, mixed asset tiers and active M&A profile.
• Iguatemi (Iguatemi Empresa de Shopping Centers): Brazilian premium shopping center operator focused on upscale malls in major Brazilian cities. Direct competitor in Brazilian mall operations with similar tenant mix in fashion/luxury and comparable ABL scale.

Broad incumbents

• Unibail-Rodamco-Westfield (Westfield): Global premier mall operator with destination retail centers across the US and Europe. Comparable at the strategic level as a mall operator pursuing experience-led differentiation, though larger and more internationally diversified.

Regional players

• General Shopping Brasil: Brazilian shopping center administrator managing a smaller portfolio of malls, often in partnership with institutional investors. Comparable as a Brazilian mall operator/administrator at a smaller scale, focused on tier-2 and regional assets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/somosancar

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ancar Ivanhoe