Mallplaza

What Mallplaza does

Mallplaza is a privately held Chilean shopping mall operator founded in 1990 and headquartered in Santiago, Chile. The company operates 17+ mall properties across three Andean countries — Chile, Peru, and Colombia — with its flagship asset being Mallplaza Vespucio in Santiago. Its portfolio spans enclosed regional malls, the newer Mallplaza Premium Outlets format, and a BOING-branded entertainment sub-concept, with a stated portfolio of anchor retail brands including IKEA, ZARA, and H&M. The company also operates an entrepreneur portal (Plaza Emprende) and pursues mixed-use strategies including housing densification above mall sites.

The company generates revenue primarily through recurring tenant leases and foot traffic monetization across its mall portfolio, with pricing negotiated on a case-by-case basis rather than publicly disclosed. In 2025, Mallplaza achieved record financial results: USD 577.5 million in EBITDA (38.2% year-on-year growth) at an 80.5% margin, net income of CLP 369,312 million (53.3% growth), 385 million annual visits across properties (16% growth), and 500+ new store openings adding 84,500 m² of retail space. Its go-to-market includes participation in international retail summits such as MAPIC, and its customer base consists of middle and upper-middle class consumers in the Andean region seeking retail, dining, and entertainment experiences.

Mallplaza is executing a USD 570–600+ million growth and transformation plan through 2028, targeting asset expansion and upgrades in Chile and Peru, the new Premium Outlets format, and a housing densification strategy. The company achieved two major 2025 milestones: inclusion in the MSCI Emerging Markets Mid Cap Index and a BBB credit rating from Fitch Ratings, positioning it for broader institutional investor access. Ownership structure and key shareholders are not publicly disclosed.

Name

Mallplaza

Legal name

Mallplaza

Website

https://mallplaza.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

251–500 employees

Short description

Mallplaza is a privately held Chilean shopping mall operator running 17+ retail centers across Chile, Peru, and Colombia. It generates recurring lease revenue from anchor and specialty tenants, serving middle-class consumers in the Andean region with retail, dining, and entertainment experiences.

Ownership category

akta.pro rank

Product category

Shopping Mall Operations

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Retail Property Management (BPAJAGAB)

akta.pro secondary industry

Retail Real Estate Asset Management (BPAJAMAF)

Keywords

• Shopping mall operations
• Retail real estate
• Commercial property leasing
• Shopping center management
• Tenant lease services

Headquarters

HQ city

Santiago

HQ country

Chile

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Marketing or Sales, Personnel, Supply Chain

Revenue model

1. Shopping Mall Operations: Mallplaza operates as a shopping mall operator generating revenue through tenant leases, foot traffic monetization, and retail space management across its properties in Chile, Peru, and Colombia. The company achieved an 80.5% EBITDA margin in 2025, indicating strong operational leverage in its mall management model.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Mallplaza operates a portfolio of shopping malls across Chile, Peru, and Colombia, generating revenue through tenant leases, foot traffic monetization, and retail space management. The company directly operates 17+ mall properties including the flagship Mallplaza Vespucio, the new Premium Outlets format, and pursues a housing densification strategy above mall locations as part of its transformation plan.

Product overview

Mallplaza operates as a shopping mall operator with a portfolio of 17 mall properties across Chile, Peru, and Colombia in the Andean region. The core offering consists of retail shopping centers including Mallplaza Vespucio (flagship), Mallplaza Premium Outlets (new format), and 15 additional mall locations across Chile. The company also pursues a housing densification strategy above mall properties as part of its transformation initiatives. In 2025, Mallplaza achieved 385 million visits across its properties with 500+ new store openings adding 84,500 m². The company is executing a USD 600+ million growth and transformation plan including expansion and asset upgrades.

Differentiator

Problem solved

Functional benefit

Products and services

• Mallplaza Shopping Mall Portfolio Portfolio of 17+ shopping malls across Chile, Peru, and Colombia providing retail, dining, entertainment, and lifestyle experiences to consumers and leased retail space to enterprise tenants such as IKEA, ZARA, and H&M. Includes flagship Mallplaza Vespucio and additional Chilean locations.
• Mallplaza Premium Outlets New Premium Outlets shopping format introduced as part of Mallplaza's growth and transformation plan across Andean regional operations, offering an outlet-style retail experience within the Mallplaza portfolio.
• BOING Entertainment Entertainment concept and branding featured at Mallplaza Chile locations, providing dining experiences and recreation activities to mall visitors as part of the integrated shopping center experience.
• Housing Densification Initiative Strategic initiative within Mallplaza's growth and transformation plan involving residential housing development above existing mall properties to diversify revenue streams and maximize utilization of mall locations.

Quantifiable outcome

• 385 million annual visits across properties
• +3 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered flagship and core.

• IKEAflagshipStrategic or Co-development Partner · 5 November 2025IKEA operates flagship locations within Mallplaza shopping centers, representing a key anchor tenant relationship that drives foot traffic and brand positioning for Mallplaza's premium mall portfolio.
• ZARAcoreStrategic or Co-development Partner · 5 November 2025ZARA maintains major fashion retail presence across the Mallplaza mall portfolio, representing a core tenant partnership within the Andean region.
• H&McoreStrategic or Co-development Partner · 5 November 2025H&M operates global fashion retail locations within Mallplaza shopping centers, representing a key tenant partnership in the fashion retail category.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Regional players

• Multiplan: Brazil's largest shopping mall operator with a portfolio of 40+ malls. Comparable business model (mall leasing and operations) but focused on Brazil rather than the Andean region.
• BR Malls: Brazilian shopping mall operator with a similar asset-and-operations model. Comparable in terms of mall management expertise and Latin American retail real estate focus, though geographically distinct.
• Iguatemi S.A. Brazilian luxury-focused shopping mall operator. Comparable in shopping center operations and Latin American presence, though with a higher-end positioning.

Direct peers

• Parque Arauco: Chilean shopping mall operator with a similar regional portfolio across Chile, Peru, and Colombia. Directly comparable in terms of mall operations, tenant mix, and Andean geographic footprint.
• Cencosud Shopping: Chilean-based shopping center operator (spun off from Cencosud) with malls across Chile, Peru, and Colombia. Closest direct competitor to Mallplaza in the Andean mall operator space.
• Plaza Centers: International shopping mall operator focused on emerging markets in Central and Eastern Europe. Comparable as a specialist mall operator with similar asset management and leasing model.

Broad incumbents

• Falabella (Plaza S.A. parent): Latin American retail conglomerate with integrated shopping mall operations. Comparable as both a retailer and mall operator across the Andean region, with broader retail and financial services exposure.
• Sonae Sierra: International shopping mall developer and operator with assets in Portugal, Spain, Brazil, and other markets. Comparable business model with global mall development expertise.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks4 records

Key highlights5 records

Customer concentration

• Xx.com/mallplazaperu

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mallplaza