Happyland, Mallplaza Oeste, Chile.
The company made progress toward executing its investment plan of over USD 600 million, with the aim of increasing the market share of its Tier A assets.
SANTIAGO, REGION METROPOLITANA, CHILE, May 5, 2026 /EINPresswire.com/ — Plaza S.A. (BCS: PLAZA). – Mallplaza continues to report positive financial results. The company with a presence in Chile, Peru and Colombia recorded an EBITDA of USD 140.5 million (+5.2%), net revenues of USD 178.4 million (+6%), net profits of USD 91.6 million (+20.5%) and FFO of USD 105.4 million (+6.3%) at the close of the first quarter of 2026. Its 37 urban centers received over 95.8 million visits, with 5.1% growth in SSR (Same Store Rent).
During the first quarter of the year, Mallplaza made progress toward executing its investment plan – announced in 2025 – to strengthen the value proposition of its main urban centers in the region and to bring the current share of Tier A assets to over 70% of the portfolio’s GLA. “We have already moved forward with the execution of over 50% of what is committed in our investment plan, with works that have already begun or are about to do so in Mallplaza Trébol, Mallplaza Oeste, Mallplaza Trujillo and Mallplaza Piura. These expansions aim to boost each asset’s value proposition, ensuring that they evolve and adapt to our customers’ new needs,” Mallplaza CEO Pablo Pulido highlighted.
Mallplaza’s operational strength is also supported by a robust capital structure, with leverage of 2.3 times (Net financial debt / EBITDA). This financial solvency has gained the market’s confidence, demonstrated by Mallplaza’s rise to the “Large Cap” category in the FTSE index and its increased weight in the MSCI. Along these same lines, the company highlights the successful placement of its first corporate bond in the Peruvian market, at 7.16% and maturing in 15 years, with a spread of 76 basis points, the lowest level recorded on the local debt market for an issuer in the sector.
The results presented are evidence of the company’s capacity to grow in a challenging global context and mark Pablo Pulido’s first quarter at the helm of Mallplaza, with the execution of its investment plan and focus on complementary verticals standing out.
Residential strategy and complementary businesses
The company has been moving forward with its residential strategy, with the potential development of 10,000 homes regionally to build 500,000 m2 of useful space for lease, sale and through the sale of land. “For Mallplaza, this strategy represents a scalable business model that not only captures the value of our urban centers’ land but also diversifies our revenue matrix toward more resilient flows,” Pablo Pulido explained.
Of the 10,000 homes, we are executing 2,000 units from the sale of land and the multifamily project in Mallplaza Vespucio, which will be developed for rent and will have 11,000 m2 of leasable area across 320 units.
Complementary Businesses – parking and advertising – have registered 17.3% growth thanks to an active strategy to seize value and forge new regional alliances.
Pablo Gacitúa
MALLPLAZA
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