Parque Arauco to invest heavily in Colombia

Parque Arauco will invest US$200mil in entering the Colombian market with US$70mil of that total to be spent by the Chilean shopping-centre group on the Pereira mall and its 40,201 square metres of rentable space. Parque Arauco is controlled by the families Said and Abumohor and should inaugurate this first Colombian mall in the final quarter of 2009. In Chile, Parque Arauco will build the malls Quilicura (US$42mil, to open in May 2009) and Pajaritos (US$9mil, to open next month) as well as the Torre de Oficinas Cerro Colorado (US$35mill, to open in August 2008). In Peru, it will open three shopping centres - San Isidro, US$84mil; Arequipa, US$40mil; and the strip center Chorrillo, US$4mil before February 2010.

Publication: SABI - Business News
Provider: South American Business Information
Date: April 24, 2008