Chilean retail giant Parque Arauco is making a bold move in Colombia with the acquisition of Parque Alegra in Barranquilla. This purchase through a local subsidiary solidifies Parque Arauco’s commitment to expanding its footprint in Colombia. With established presence in Chile, Peru, and Colombia, the Santiago-based firm already owns malls that host notable brands including Gucci, Guess, H&M, and Pandora.

Diego Bermúdez, CEO of Parque Arauco’s Colombia division, stated, “Taking full control of Parque Alegra reaffirms our commitment to growth in Colombia.” This sentiment echoes recent increases in ownership stakes in Bogotá’s Titán Plaza and Medellín’s Parque Fabricato. With seven malls now under its belt in Colombia, Parque Arauco is leveraging its strategic acquisitions to strengthen its retail portfolio and cater to a growing consumer base in the Latin American market.

This move is part of a larger trend where Parque Arauco seeks to capitalize on Colombia’s burgeoning retail sector, marked by rising disposable incomes and urbanization. The acquisition positions Parque Arauco to benefit from Colombia’s positive economic trajectory, ensuring it remains competitive in the Latin American market.