The company, with 25 urban centers in 16 cities in the region, has incorporated new categories and tenants thanks to the reuse of large spaces previously occupied by department stores. The latest example is the new Centro X, dedicated to high-level exhibits and which was recently inaugurated in Mallplaza Los Dominicos.
At the event, Mallplaza announced to its shareholders the arrival of its new corporate administrative and finance manager, the US economist Derek Schwietzer Tang, who has a long track record in the shopping center industry.
Santiago, 17 April 2023.- The opening of over 600 new stores in Chile, Peru and Colombia; the sealing of strategic partnerships with high-value brands like Ikea, Decathlon and H&M; the incorporation of new sports, entertainment and services categories, and the resumption of construction of Mallplaza Cali in Colombia were some of the main management milestones in 2022 that Mallplaza highlighted at its Annual Shareholders Meeting.
In addition, the company’s main economic results were reviewed at the event, where the business strategy deployed produced positive results in terms of increased sales (+20% compared to 2021 and +29% versus 2019), flows (+3% compared to 4Q2021; +9% vs 4Q2019) and 95% occupancy, despite the challenging economic scenario.
“We have the most important portfolio of urban centers in the region, with 25 Plazas strategically located in 16 cities. Our Plazas are places for social encounter that not only allow satisfying needs, but where people can live, study, practice sports, work, and have fun without having to travel. For this we have promoted a proposition with multiple visiting purposes and mixed uses, with continual growth and the incorporation of attractive categories and brands, maximizing the location of our urban centers through a robust omnichannel strategy that allows us to offer different contact and sales points, in addition to attracting digital flow to the physical point,” explained Fernando de Peña, CEO of Plaza S.A.
Regarding projects and new developments, the company confirmed a project portfolio for 2023 that considers an investment of 1.4 million UF. The largest proportion of the investment will go to the construction of Mallplaza Cali, which will be the company’s fifth urban center in Colombia and will add 67,000 m2 of GLA; the remodeling and expansion of Mallplaza Trujillo in Peru; the remodeling of Mallplaza NQS; the new spaces in Mallplaza Vespucio and the renovations to be carried out in Mallplaza Oeste and Mallplaza La Serena. This is added to the progress being made in the residential projects in Mallplaza Norte and Mallplaza Vespucio.
Regarding the permanent renewal of its commercial proposition and its emphasis on promoting mixed uses, the company highlighted the projection of over 600 openings in 2023, which are added to the 600 in 2022, and the consolidation of services and businesses that generate habituality and daily traffic. Mallplaza currently allocates about 26% of its GLA to essential services and businesses that generate daily traffic and habituality, as is the case with supermarkets, Asian multi-product stores, medical care of all types, banks, educational services and public services, which is enhanced by a robust retail proposition, the generation of new partnerships and the arrival of new stores.
“In the same way, by conceiving our spaces as urban omnichannel centers, what we are prioritizing is the development of spaces that promote the connection between people. That is why we modified our architecture, opening new spaces for getting together, such as those destined for coworking and sports, among others,” said De Peña.
Mallplaza is allocating 28% of its leasable area to these uses, which also consider a robust culinary and entertainment proposition. In particular, the partnership with the gastronomy group Mil Sabores to open 85 to 100 stores between 2022 and 2025; the opening of a new Mercado in Colombia with 15 of 23 dining propositions and brands like Archies Beer, Leños y Carbón in Mallplaza NQS, Bogota, and the opening of Panorámica on the roof of Mallplaza Cartagena with seven additional propositions.
New CFO
Mallplaza also informed shareholders that Derek Schwietzer Tang has been appointed the new Corporate Administration and Finance Manager. Tang comes from BRMalls, an important player in the Brazilian shopping center industry, and has over 15 years of experience in corporate finance, investor relations and capital markets in the real estate sector.
