The Mallplaza Premium Outlet Atocongo in Lima, Peru, began a phased reopening this weekend following the completion of initial remodeling operate. The transformation aims to establish a premium outlet experience featuring recognized brands at reduced prices and special promotions.
The changes are part of a broader integration strategy by Mallplaza following its acquisition of Open Plaza shopping centers in Peru for approximately USD 848 million. The acquisition allowed Mallplaza to assume management of several properties under its brand, with plans to modernize them and strengthen its market position in Lima.
The remodeling project encompasses a total area of 37,312 square meters and represents an investment of USD 7.5 million. Full completion of the outlet is scheduled for the first half of 2026, according to project timelines.
Located in the San Juan de Miraflores district, at the intersection of Avenida Circunvalación and the South Pan-American Highway, the mall’s location is intended to provide easy access from various parts of the capital, including Surco, La Molina, and San Borja.
The initial phase of the renovated outlet includes several international brands, among them Adidas, Reebok, Skechers, Tommy Hilfiger, Puma, Bubba, and Steve Madden. These stores offer a range of sporting goods, casual wear, and accessories in an outlet format characterized by permanent discounts.
Infrastructure improvements are too part of the modernization, including adjustments to internal circulation, fresh signage, and enhancements to common areas to improve visitor experience and accessibility.
Mallplaza reported a 2025 EBITDA of USD 577.5 million with a margin of 80.5%, a 38.2% increase compared to the previous year. The company attributed this performance to the integration of its Peruvian assets and improvements in operational efficiency. Attributable net income reached 369.312 million Chilean pesos, a 53.3% increase, excluding the impact of asset valuation. Company revenues rose 32.2%, driven by increased leased square footage, inflation-linked contract updates, and stronger sales from commercial partners.
Throughout the year, Mallplaza added over 500 new stores to its portfolio and increased leasable area by 84,500 square meters through expansion and conversion projects. The company also continued its expansion strategy in Chile and Peru and launched new commercial formats, including Mallplaza Premium Outlets Biobío.
“Our strategy has allowed us to advance the purpose of simplifying and enjoying life more with proposals connected to the communities,” said Pablo Pulido, General Manager of the company.
Parking and advertising businesses grew by 44.7%. Visitor numbers across Mallplaza’s shopping centers increased by 16% during the year, reaching a total of 385 million visits.
