Mallplaza materializes growth in Peru and reaches 2.3 million m2 of GLA managed in the region

After successfully completing its PSO Mallplaza positioned itself as the second-largest shopping center operator in Peru

SANTIAGO, REGION METROPOLITANA, CHILE, December 5, 2024 /EINPresswire.com/ -- After completing the last day of trading through a Public Share Offer on the Lima Stock Exchange, Mallplaza subsidiary Desarrollos Perú SpA acquired 99.77% of Falabella Perú SAA shares, thus consolidating its position in the Andean region by incorporating 619,000 m2 and reaching a total of 2.3 million m2 of GLA, diversifying regionally with 62% of its leasable square meters in Chile, 27% in Peru and 11% in Colombia. The transaction, which will continue with the corresponding legal process and payments in the coming days. The transaction totaled USD 454,179,002.

“We’re very happy with the success of the transaction and this M&A operation, as it responds to our growth strategy aimed at bolstering our position as the main asset platform in the Andean region, both in terms of market coverage as well as the quality of our assets. We've been in Peru since 2006 and want to continue growing in that country. For this reason, in addition to this growth we also have a strategic plan to add 100,000 m2 of GLA in various shopping centers in the coming years, strengthening the commercial, socialization and entertainment offering,” said Mallplaza CEO Fernando de Peña.
The company also noted that the transaction will have a favorable effect on Plaza SA’s consolidated results in the coming years, leveraging the natural synergies that will exist and efficiencies of scale, among others. “We are a unique platform of urban centers that allows major brands to establish themselves in the Andean region, making us an attractive vehicle for investors interested in developing markets. We are sure that those brands are now looking more closely at Peru and the Andean region due to their positive growth prospects,” de Peña added.

CESAR RODRIGUEZ
MALLPLAZA
+56 9 9997 5702
cesar.rodriguez@mallplaza.com