Peru. The Chilean shopping center operator Parque Arauco announced that it will continue with its expansion process in other Latin American countries, specifically Peru and Colombia, where it will carry out 4 projects that will add 30,500 square meters (m2) leasable to its portfolio.
One of these projects is the development of an outlet on the outskirts of Bogotá, which will require an investment of US$41 million and will include 13,000 m2 of total leasable area (ABL). The company also currently has two other projects in the coffee country, which total 71,500 m2 of ABL, with an occupancy of 89.3%.
On the other hand, Parque Arauco will work together in Peru with the local company Grupo Wiese, to develop the MegaPlaza Express shopping center, located in the city of Jaén, in the northeast of the country. This property will have 14,500 m2 of total leasable area and will require an investment of US $14 million.
In addition, the Chilean company will venture into the Peruvian market with several strip centers. Among them the Viamix Las Malvinas, located in Lima and with an area of 2,000 m2; Viamix Colonial, which will also be located in the capital and contemplates an investment of US $ 7 million for just over 3,000 m2 of ABL.
The company announced that both the projects in Colombia and Peru will be operational during the second half of 2016.
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