Millions invested in more malls and department stores in Peru

(LIP-ir) — With an ever-increasing purchasing power, Peruvian shoppers are now demanding higher quality products and brand names.

This need has fueled the expansion of several malls in Lima and the construction of others in Peru’s provinces.

Shopping centers in the Andean country have invoiced nearly $2 billion in 2008, a 12 percent increase when compared to 2007, said Percy Vigil, president of Peru’s Shopping Centers Association (ACCEP), stating that these figures did not take into account sales in Chiclayo and Trujillo.

Vigil, who is also the general manager of Mega Plaza, a mall in Lima’s northern region, stated the consortium he directed was looking for the best place to build two more shopping centers in Lima – one in San Juan de Miraflores and another in San Juan de Luirgancho.

He added that the consortium also planned to build two more strip centers in the next two years, one of which is to be located in La Encantada Chorrillos.

The head of ACCEP predicted that there would be at least four more department stores in the country within the next 30 months.

Aside from Saga and Ripley, the Andean country will also have La Polar and Paris department stores, both Chilean companies.

The other two department stores will be Peruvian, one of which is to be Topi Top.