Parque Arauco has opened a new regional shopping centre, Parque La Colina, in Bogotá, Colombia.
The 62,500m² Parque La Colina is the third regional shopping centre by the company in Colombia, and has seen an investment of approximately COP670,000 ($220,000).
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The new shopping centre will feature 199 stores with various brands such as H&M, Crate & Barrel, and Purificación García.
Parque Arauco also intends to build a park for the local communities.
Being a single owner property, Parque La Colina is expected to be an asset to the Bogotá retail real estate market.
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The company has 873,500m² in total gross leasable area (GLA) across Chile, Peru and Colombia,
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By GlobalDataWhile the company opened its first shopping centre in Chile in 1982, it expanded into Peru in 2005 and Colombia in 2008.
In addition to 14 regional shopping centres, Parque Arauco owns a total of six outlet malls, eight neighborhood centres and a land bank.
