Parque Arauco is Proud to Announce the Opening of Mall Marina Expansion in Viña Del Mar, Chile
October 18 2018 - 4:48PM
Business Wire
Parque Arauco S.A. (SSE:PARAUCO); (Bloomberg:PARAUCO:CI)
(“Parque Arauco”) announces the opening of Mall Marina expansion
(operated by Marina Group) in Viña del Mar and with it, welcomes
the first H&M Home store to Chile.
The official inauguration of the Mall Marina expansion occurred
last Thursday with the opening of H&M, Bath & Body Works
and Prune, among many other stores. Attendance surpassed
expectations and the mall expansion received over 34,500 visitors
in its first day. The opening of H&M, in particular, was highly
anticipated as it features an H&M Home store, the first of this
format to open in Chile.
This expansion adds 19,000 m2 of retail GLA to the mall, in
addition to a 10,000 m2 office tower set to open in 2019. The total
investment, including the office tower, is projected to be
approximately US$98 million.
Mall Marina belongs to the Marina Group, of which Parque Arauco
has 50% participation. Currently, Marina Group has a portfolio of
assets with 137,500 m2 of GLA and has another 18,000 m2 in the
pipeline with Mall Marina office tower and the expansion of Mall
Curicó. In addition, Marina Group manages approximately 108,000 m2
of GLA owned by third parties, including Mall del Centro, a mall in
Concepción, Chile, and Mall Barrio Independencia in Santiago,
Chile.
Parque Arauco has 1,028,500 m2 of total consolidated GLA in
Chile, Peru, and Colombia. The company inaugurated its first
shopping center in Chile in 1982, entered Peru in 2005 and Colombia
in 2008. The company’s assets include 7 regional shopping centers,
1 neighborhood center, 4 premium outlet malls and 14 strip centers
in Chile; 6 regional shopping centers, 10 neighborhood centers, 2
premium outlet malls and 3 strip centers in Peru; 3 regional
shopping centers and 1 premium outlet mall in Colombia, as well as
a land bank to contribute to the company’s future growth plans. For
more details, visit the company’s website: www.parauco.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20181018005980/en/
Parque Arauco S.A.Tori Creighton, (56 2) 2299 0608Head of
Investor Relationstcreighton@parauco.com