Debenhams is in talks with São Paulo-based developer Squarestone Brasil to open in Brazil.
The retailer is eyeing the 320,000 sq ft Golden Square development in Sao Bernardo for its first store in the region.
The $250m (£158m) scheme is being developed by Squarestone in partnership with Walton Street Capital and Banco BTG Pactual.
The mall will have a total of 230 stores, including a circa 25,000 sq ft Debenhams. In 2008, the retailer revealed plans to more than double its international sales to around £600m by the end of August 2012.
Plans to open in Brazil were first mooted a year ago, but were dismissed. Golden Square is scheduled to open next year.
Noella.pio.kivlehan@estatesgazette.com
