At the group level, today they have 10 multifamily projects in total. Four of them are in different stages of development in Chile, Peru and Colombia. In our country, the company inaugurated its first multifamily building last year in La Mar (Miraflores) and has one more in the portfolio, this time in Megaplaza Independencia, its largest mall in Peru.
The project in this mall located in Lima Norte will have an investment of US$33 million with 504 units. The executive told El Comercio during the Parque Arauco Pulse conference in Chile, in which El Comercio participated, that it is currently in the design stage and that it is seeking to be put out to tender in the first months of 2027.
Thus, it is expected that construction works will begin in the first months of 2028. In two years the project would open its doors, meaning that by 2030 they would have their second multifamily building operational in Peru.
Regarding new multifamily projects in our country, at the moment they do not reveal where they could be located, but they are analyzing this issue.
“In Peru we have focused on these uses for the high segment and now, with the new project in Independencia, also in the medium-low segments,” commented Pérez Marchant.
Regarding Minka, a shopping center acquired from Centenario last year for US$112 million, the executive commented that the mall has a flow of more than 18 million visits per year. In this asset, the shopping center operator is in the final part of preparing its master remodeling plan and stated that it is its second key driver of sales in the country.
On the other hand, Parque Arauco has 8 outlets in the region, three of them in Peru, with two in Lima (Outlet Arauco Lurín, Outlet Arauco Faucett) and one in Arequipa.
Given the development of this format, which is having a new boost in the Peruvian market, he pointed out that there may be a new project, but at the moment it is not defined.
Regarding the office project – which is one of the latest uses that it has been promoting in its main shopping center in Parque Arauco Kennedy, in Chile – they have no plans in Peru at the moment, since it is a project that they develop occasionally.
Eduardo Pérez Marchant, CEO of Parque Arauco, in the holding company’s offices. Photo: Claudia Inga)
According to the mall, Peru and Colombia represent close to half of the company’s consolidated Ebitda, with Peru representing 27.4% of the total as of the second quarter of the year). The executive also said that our country – where today they already have 32 assets, being the third largest market – will be one of the markets that will have the most robust growth in the coming years.
In figures, Parque Arauco has 472,000 m² of leasable area (100% owned) and an occupancy rate of 96.2%.
