Otis Worldwide : Brazil Signs Maintenance Contract with Gazit Group for 88 Units Across Six Properties

Contract adds 51 units to Otis service portfolio and renews contract for an additional 37 units, including elevators, escalators, moving walks and platform lifts.

Otis Brazil will maintain the elevators, escalators, moving walks and platforms at Gazit Group's six commercial properties in São Paulo. The new contract continues Otis' maintenance at two existing locations, including the historic Shopping Light building, and adds units at four additional shopping centers. Otis(NYSE: OTIS), is the world's leading manufacturer, installation and service company for elevators and escalators.

'Shopping Light, one of São Paulo's heritage sites, was among the first buildings in Brazil with Otis elevators when it was built in 1929. After more than 90 years of caring for those six elevators and their countless passengers, we're proud to have modernized three of them just last year,' said Fernando Peiter, Otis Marketing and Sales Director for Latin America. 'The success of that project and our focus on technology and safety led to this most recent agreement with Gazit Group to renew its existing service contracts with Otis and add more than 50 additional units at other Gazit properties in the region.'

Mia Stark, CEO of Gazit Brazil, celebrates the continued relationship. 'We recently completed the revitalization of Shopping Light's historic elevators with Otis. We seek the best suppliers and services for our customers' malls with great capacity, security and infrastructure. The agreement with Otis achieves these objectives as it is one of the most respected companies in the world in its segment. Our visitors can enjoy quality products and guaranteed confidence while shopping or performing services. It has been a long-standing and highly successful relationship for many years.'

Gazit Brazil is a subsidiary of the Gazit-Globe Group that operates, manages and develops shopping centers around the world. The group arrived in Brazil in 2008 and is present in São Paulo, Guarulhos and Campinas (SP), with a total of six properties: Morumbi Town Shopping, Shopping Light, Internacional Shopping, Mais Shopping, Top Center Shopping and Prado Boulevard.

About Otis

Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2 billion people a day and maintain more than 2 million customer units worldwide - the industry's largest Service portfolio. You'll find us in the world's most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 69,000 people strong, including 40,000 field professionals, all committed to meeting the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visitwww.otis.comand follow us on LinkedIn, Instagram, Facebookand Twitter@OtisElevatorCo.