Peru: Investment in 14 shopping centers to reach US$795 million in 2019-2021

A total of US$795 million will be invested in the development of 14 shopping centers across Peru between 2019 and 2021, Lima Chamber of Commerce’s (CCL) Institute of Economics and Business Development (IEDEP) has reported.

Six projects worth US$401 million will open in Lima this year, being Mall Real Plaza Puruchuco (Ate) of Grupo Intercorp —entailing an investment of US$150 million— one of the most awaited ones.

«This investment will boost the trade industry, with a growth estimated at 3.1% for this year, slightly higher than that of 2018 (2.6%),» IEDEP Executive Director Cesar Peñaranda stated.

«It should be noted this sector has been growing gradually since the second quarter of 2017,» he continued.

Molina Shopping Center of Grupo Cencosud (US$100 million) and Lifestyle La Molina of Parque Arauco (US$60 million) add up to the aforementioned projects.

Also this year, Urbecorp and Grupo Wong contemplate investments in Plaza Villa Sur Villa El Salvador (US$35 million) and Mall Santa Maria (US$18 million), respectively.

Corporacion Ripley will invest US$224 million in three Mall Aventura Plaza projects. Two of them will be built in Chiclayo and Iquitos, whereas the third one will be situated in Lima’s peripheral San Juan de Lurigancho district. The three branches are expected to open in the coming two years.

Also of note are two projects by Grupo Falabella: Mall Plaza Cusco (US$60 million) and Mall Plaza Comas (US$110 million). They are expected to open in 2020.

As for projects in provinces, US$196 million will be invested in Cusco, Lambayeque, and Loreto regions, as a whole.

According to IEDEP, three operators —Corporacion Ripley, Grupo Falabella, and Intercorp— account for 68.4% of total investments worth over US$544 million.

(END) CAN/RMB/MVB

Fuente: Agencia Andina

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