Parque Arauco Announces New Development Projects, Increasing Investment Plan to US$730 million

SANTIAGO, Chile--()--Parque Arauco S.A. (SSE: PARAUCO) (Bloomberg: PARAUCO:CI) has announced three new greenfield projects: a neighborhood shopping center and a premium outlet mall in Chile, and a premium outlet mall in Peru. The company also announced expansion projects in MegaPlaza Norte, MegaPlaza Chimbote, MegaPlaza Express Chincha and MegaPlaza Express Villa Chorrillos in Peru.

Parque Arauco will develop Arauco Antofagasta, the company´s first shopping center in the north of Chile. The project, owned 55% by Parque Arauco, will require a total investment of US$34 million and will incorporate 10.500 m2 of GLA. Arauco Antofagasta will be the company´s first neighborhood shopping center in Chile, and the sixth overall, including the company´s five neighborhood shopping centers in Peru.

The company also announced the development of its first premium outlet mall in the north of Chile and its fourth in the country, Arauco Premium Outlet Coquimbo. Owned 100% by Parque Arauco, this shopping center will require a total investment of US$ 12 million and will contribute 6.000 m2 of GLA.

Additionally, Parque Arauco will develop Outlet Lurin, located in the south of Lima. The project, owned 100% by Parque Arauco, will require a total investment of US$25 million and will incorporate 8.500 m2 of GLA. Outlet Lurin will be Parque Arauco´s second outlet mall in Peru.

Finally, Parque Arauco announced expansion projects in MegaPlaza Norte, MegaPlaza Chimbote, MegaPlaza Express Chincha and MegaPlaza Express Villa Chorrillos in Peru. These four expansion projects, owned 50% by Parque Arauco, will demand a total investment of US$ 39 million and will contribute 21.500 m2 of total GLA.

GREENFIELD PROJECTS
  NAME OF THE PROJECT   Location   Format  

Estimated Opening
Date

 

Total
GLA (m²)

 

%
Ownership

 

Owned
GLA (m²)

 

Total
Investment
(MMUS$)

Arauco Premium Outlet Coquimbo   Chile   Outlet   1H16   6,000   100.0%   6,000   12
Others Stripcenters Chile (Arauco Express) Chile Strip Center Under development 14,000 51.0% 7,140 30
Arauco Antofagasta Chile Neighborhood Under development 10,500 55.0% 5,775 34
Megaplaza Pisco Perú Neighborhood 1H15 14,000 50.0% 7,000 16
Others Megaplaza Perú Various Under development 40,000 50.0% 20,000 46
Outlet Lurín Perú Outlet 1H16 8,500 100.0% 8,500 25
Others SCP Perú Strip/Outlet Under development 25,000 51.0% 12,750 73
El Quinde Cajamarca Perú Regional 1Q15 30,000 100.0% 30,000 38
El Quinde Ica Perú Regional 1Q15 37,000 100.0% 37,000 47
Parque La Colina   Colombia   Regional   1H17   63,500   55.0%   34,925   289
Subtotal               248,500       169,090   610
 
EXPANSION PROJECTS
NAME OF THE PROJECT   Location   Format  

Estimated Opening
Date

 

Total
GLA (m²)

 

%
Ownership

 

Owned
GLA (m²)

 

Total
Investment
(MMUS$)

Boulevard de Lujo en Parque Arauco Kennedy Expansion Chile Regional 1H15 1,000 100.0% 1,000 9
Arauco Premium Outlet Buenaventura Expansion Chile Outlet 1Q15 6,500 100.0% 6,500 20
Megaplaza Express Villa Chorrillos Expansion Perú Neighborhood 2H15 500 50.0% 250 2
Megaplaza Express Chincha Expansion Perú Neighborhood 2H16 1,000 50.0% 500 2
Megaplaza Chimbote Expansion Perú Regional 2H17 2,500 50.0% 1,250 4
Megaplaza Norte Expansion   Perú   Regional   Under development   17,500   50.0%   8,750   31
Subtotal               29,000       18,250   68
                             
Total Land                           52

TOTAL

             

277,500

     

187,340

 

730

Parque Arauco has 728.500 m2 of total GLA in Chile, Peru, and Colombia. The company inaugurated its first shopping center in Chile in 1982, entered Peru in 2006 and Colombia in 2008. The company´s assets include six regional shopping centers, three premium outlet malls and eleven strip centers in Chile; four regional shopping centers, five neighborhood centers, one premium outlet mall and one strip center in Peru; and two regional shopping centers in Colombia as well as a large land bank to support the company´s future growth plans. For more details, visit the company´s website: www.parauco.com.

Contacts

Parque Arauco S.A.
Samantha Zerbe, (56 2) 2299 0608
Head of Investor Relations
szerbe@parauco.com

Contacts

Parque Arauco S.A.
Samantha Zerbe, (56 2) 2299 0608
Head of Investor Relations
szerbe@parauco.com