Chilean developers intensify their bet on Colombia's shopping centers
The Chileans from Cenco Malls have also reinforced their El Limonar shopping center in Cali. Photo: Courtesy/Cencosud
TL;DR
- Cenco Malls, part of Cencosud, acquired 51% of the Plaza Central shopping center in Bogotá for $459 billion COP.
- Plaza Central has approximately 77,000 square meters of leasable area, over 270 stores, and a 94% occupancy rate.
- Parque Arauco is investing $81 million to expand Parque La Colina in Bogotá, adding about 20,000 square meters for gastronomy, entertainment, and experiences.
- The expansion of Parque La Colina is planned for completion around 2030.
- Mallplaza reported historical growth in its 2025 financial results, with a 30.6% EBITDA growth and a 7.8 percentage point improvement in EBITDA margin in Colombia.
- Mallplaza achieved a consolidated occupancy rate of 97% across its Colombian portfolio.
- Mallplaza is implementing a growth and transformation plan of over $600 million USD.
- Mallplaza's strategy focuses on connected community spaces and human connection.