SQB Squarestone

TIDMSQB

RNS Number : 1297G

Squarestone Brasil Limited

09 May 2011

9 May 2011

Squarestone Brasil Limited

(the "Company" or "Squarestone Brasil")

CONSTRUCTION COMMENCED ON GOLDEN SQUARE SHOPPING MALL DEVELOPMENT

Squarestone Brasil Limited (AIM: SQB.L, SQBW.L), the Anglo-Brazilian real estate development and investment company, today announces that it has commenced construction at the Golden Square shopping mall development project. Golden Square will target the ABC region of Sao Paulo, Brazil and is expected to open by Q3 2012.

The Golden Square scheme is a flagship development for Squarestone Brasil, opening up an entirely new growing 'A' and 'B' class consumer market for the Company to access. Upon completion, Golden Square will be a 31,000 sq m net leasable area mall on three levels, designed and built to international shopping mall standards combined with the local culture, tastes and fashions of Brazil that is intended to deliver the optimal tailored retailing experience targeting the ABC region of Sao Paulo. Golden Square's goal is to redefine the local retail experience based on international standards, hosting both domestic and international retailers under one roof and presenting a distinctive retail offer that currently does not exist in this part of greater Sao Paulo.

James Morse, Chief Executive of Squarestone Brasil, commented:

"Squarestone Brasil is delighted to be on site and to have commenced construction at Golden Square. We look forward to reporting on progress in due course."

For further information contact:

 
 Squarestone Brasil Limited           Tel: +44 (0)20 7074 1800 
 James Morse, Chief Executive 
  Robert Sloss, Executive Director 
  Tim Barlow, Executive Director 
 
 Liberum Capital (Nominated Adviser   Tel: +44 (0)20 3100 2000 
  and Broker) 
 Chris Bowman 
 
 Kreab Gavin Anderson (PR Adviser)    Tel: +44 (0)20 7074 1800 
 James Benjamin                       squarestone@kreabgavinanderson.com 
  Natalie Biasin 
 

Notes to editors

Squarestone Brasil

Squarestone Brasil Limited (AIM: SQB.L, SQBW.L) is an Anglo-Brazilian real estate investment and development company specialising in the Brazilian shopping mall sector. The Company combines local real estate market knowledge with international expertise in retailing, construction and development and is focused on introducing to the Brazil shopping mall sector international standards in terms of design, construction, operation and asset management.

Squarestone Brasil Limited is a Guernsey registered and domiciled company with an operational subsidiary in Sao Paulo. Its Ordinary Shares and Warrants are traded on AIM where it was admitted to trading in April 2010. The business carried on by Squarestone Brasil was co-founded in 2007 by James Morse, Tim Barlow and Robert Sloss.

Further information on Squarestone Brasil is available from the Company's website: www.squarestone.com.br

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

END

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