The first phase of Mallplaza’s Premium Outlet in Lima, Peru, opened on Monday, March 4, 2026, marking a significant step in the shopping center giant’s strategy to cater to a growing demand for value-conscious retail, according to a statement released by Mallplaza and reported by ACCEP.
The outlet, located in San Juan de Miraflores on the Pan-American South highway, is a transformation of the former Open Plaza Atocongo shopping center. The project represents a $7.5 million investment aimed at providing discounted prices on recognized brands, Mallplaza stated.
Initial brands already open to the public include Adidas, Reebok, Skechers, Tommy Hilfiger, Puma, Bubba, and Steve Madden. Coliseum and GAP are also preparing to open stores within the complex, according to Peru Retail. The outlet will offer a variety of products including sportswear, casual clothing, footwear, and accessories.
The complete development of the 37,312 square meter complex is scheduled for completion during the first half of 2026. Improvements to infrastructure, circulation, and signage are also part of the project, designed to enhance visitor comfort and accessibility, ACCEP reported.
Mallplaza’s move to create a premium outlet aligns with a broader regional strategy to diversify its retail offerings and respond to changing consumer behavior. The company acquired eleven Open Plaza shopping centers in Peru for $848 million over a year ago, and has been working to reposition these assets with innovative and more profitable concepts, according to ACCEP.
The opening of the Mallplaza Premium Outlet in Lima follows an announcement in November 2025 outlining the company’s plans for the project, signaling a growing trend toward value-conscious consumerism in Latin America, as noted by Infobae and Archyde. Mallplaza reported over $170 million in profits for the third quarter of 2025.
The location on the Pan-American South highway is intended to draw visitors from surrounding districts such as Surco and San Borja, according to ACCEP.
