The company renewed its board of directors, which consists of nine members. Enrique Ostalé Cambiaso, Ian Fürst Garmendia and Manuel Ovalle Edwards joined the board, the latter as independent director representing Pension Fund Managers (AFP).
Santiago, 22 April 2025.- Mallplaza held its Ordinary Shareholders Meeting this Tuesday, where the company reaffirmed its commitment to the Andean Region and its growth strategy, highlighting that it has mobilized to generate growth through the strengthening of its value proposition. “To the extent that our shopping centers are places valued by visitors for having the best offering in terms of retail, service, entertainment and food & beverage, we will also manage to grow in terms of visitor flows and tenant sales, improving our management and efficiency,” the company stated.
In this context, Board Chairman Sergio Cardone and CEO Fernando de Peña highlighted Mallplaza’s performance in 2024, noting that it was a year of opportunities and advances for the company “in which we were able to fully deploy our business strategy, marked by growth and the continual transformation of our shopping centers, always connected to people’s needs, their habits and the services that they want today.”
Regarding the international context, they added that Mallplaza is firmly positioned to face such challenges. “We have a robust financial position, stable and recurring revenues, an occupancy rate of 96.6% and a portfolio of strategically located and diversified assets, of which 10 are Tier A and 12 are Tier B, each of them leaders in the markets where they are present. We also have low concentration risk, given that no single asset represents over 10% of our GLA. It should be noted that our net financial debt to EBITDA indicator, including operations in Peru, is 3.1x.”
They also highlighted the leading position of the company’s portfolio: “Our value proposition allowed us to boost visitor flows, sales and revenue. We currently operate 37 shopping centers in 23 cities in Chile, Peru and Colombia with a total of 2.3 million m² of GLA, which makes us a key partner for the growth of tenants, brands and investors seeking to expand and diversify in the region.
Furthermore, De Peña noted that growth is part of the company’s DNA, which is why it is constantly seeking out the opportunities that the market has to offer, either through M&A or greenfield and brownfield projects. One example of this was the purchase of 100% of Falabella Peru, which positioned Mallplaza as Peru’s second-largest operator in terms of GLA.
At the meetings, both executives recalled Thomas Fürst, who was not only one of Mallplaza’s founders, but also one of the pioneers of the shopping center industry in Chile.
The meeting also agreed to distribute a dividend of CLP 21.53 per share from the net profits of 2024, which is added to the provisional dividend of CLP 22.0 per share approved by the Board on 27 December and paid out on 17 December that same year, bringing the total to CLP 43.53 per share.
Renewal of the board of directors
On the other hand, the Shareholders’ Meeting renewed the company board of directors for three years.
After the board’s vote, Enrique Ostalé Cambiaso joined the board, a business manager from Universidad Adolfo Ibáñez with an MSc in science from the London School of Economics and Political Science who is currently chairman of the board at Falabella. Ian Fürst Garmendia, a business manager from the University of Colorado who serves as alternate director of Inversiones Avenida Borgoño Limitada, was also appointed to the board. In addition, Manuel Ovalle Edwards, a civil engineer from the Catholic University and a director of Customercoops, BISA SA Argentina, Grupo Fair Play, and Sallustro y Cia, Paraguay, was elected as independent director.
The rest of the board is composed of Sergio Cardone Solari, Carlo Solari Donaggio, Dafne González Lizama, Pablo Eyzaguirre Court, Paul Fürst Gwinner and Alejandro Puentes Bruno, who were reelected for a new term.
Mallplaza thanks its outgoing directors for their commitment, leadership and valuable contributions during their time on the Board, highlighting their vision and dedication, with which they made a significant contribution to the company’s development and growth, leaving behind a solid foundation on which to continue building.
