Peru: Chile’s Parque Arauco acquires Larcomar Shopping Center

Isabel Guerra

Chilean firm Parque Arauco has just acquired 82.5% of the shares of Larcomar Shopping Center, in an operation worth US $36 million, after reaching a agreenment with Graña & Montero (G&M). Parque Arauco will invest more than US $100 million in several projects in Peru, including this one.

Reportedly, Parque Arauco plans to build a five-star hotel with 300 rooms in the same shopping mall.

“This aquisition, and the development of this hotel, will make Larcomar the best commercial and entertainment center in Latin America,” said Andrés Olivos, Vice President of Parque Arauco.

The Chilean firm is also participating in Mega Plaza shopping mall (North Lima) and in Mega Express Villa strip center (Chorrillos).

(Photo: Kai Bey/Flickr)

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