Daniel Foster – Senior Editor, Economy
Mallplaza has launched its first premium outlet in Peru following the conversion of the former Open Plaza Atocongo, while advancing expansion and reconversion efforts across its assets in the country. The project required an investment of US$ 6.1 million and spans approximately 37,500 square meters of gross leasable area (GLA). During the second quarter of 2026, the company’s sales in the country grew 7.7% compared to the same period of the previous year, while EBITDA advanced 5.9%, according to information released by the company.
Expansion and New Outlet Formats in Peru
Located on avenida Circunvalación 1801 at the intersection with the Panamericana Sur in San Juan de Miraflores, Mallplaza Premium Outlets Atocongo offers discounts of up to 60%. Claudia Aller, marketing director of Mallplaza Perú, explained in a conversation with Infobae Perú that the establishment combines fashion, footwear, accessories, and other items with promotions designed to differentiate from the usual shopping center experience, stating un outlet premium es un lugar de muchísimos descuentos de marcas reconocidas.
The company also projects expanding the commercial offering with new brands. The establishment includes anchor stores Sodimac and Tottus, the only outlet of Falabella in Peru, a reinforced food court, and a Módulo de Atención al Ciudadano (MAC) for visitor transactions. The shopping center currently features over 25 brands — such as Adidas, Puma, Skechers, GAP Factory, New Era, Steve Madden, New Athletic, Bubba Bags, Foot Loose, and Coliseum, alongside Top Brands housing Calvin Klein, Tommy Hilfiger, and Karl Lagerfeld — with pending commercial openings slated to raise the total to over 30 recognized brands. Furthermore, the company contemplates continuing to develop new growth stages at Atocongo, although their execution will depend on demand behavior and the needs identified among visitors.
Con Mallplaza Premium Outlets Atocongo incorporamos al mercado peruano un formato que complementa nuestro portafolio y nos permite llegar a nuevos segmentos de consumidores. Vemos una oportunidad relevante en una propuesta que reúne marcas de alta preferencia, precios atractivos y una experiencia diferenciada, al mismo tiempo que nos permite seguir generando valor sobre nuestros activos,
stated Rafael Jaramillo, manager of Mallplaza’s Peru Division. At the regional level, Atocongo is the second asset converted to this concept, following Mallplaza Premium Outlets Concepción in Chile.
Upcoming Mixed-Use Projects and Asset Expansions
In parallel, Mallplaza and Falabella signed a non-binding Memorandum of Understanding (MOU) to develop a mixed-use Tier A shopping center greenfield project on calle Las Begonias in San Isidro, where Falabella and Tottus are currently located. Permitting, design, and licensing will span the remainder of 2026 and all of 2027, with construction potentially targeting an opening between 2030 and 2031. The mixed-use development may integrate housing, educational, medical, or office spaces.
The company is also executing asset expansions in Angamos, Trujillo, and Piura, backed by announced investments of US$ 65.5 million, US$ 40 million, and US$ 25.4 million, respectively. In Trujillo, the Lifestyle project aims to open by the end of the year, adding roughly 12,000 m² of additional GLA. In Piura, the transformation of the former Open Plaza into a Mallplaza is underway as part of the company’s ongoing expansions.
