Parque Arauco Inaugurates its Third Arauco Premium Outlet in Chile

Arauco Premium Outlet Curauma offers 7,200 m2 of new retail space in the city of Valparaiso

SANTIAGO, Chile--()--Parque Arauco S.A. (SSE: PARAUCO) (Bloomberg: PARAUCO:CI) has inaugurated its third outlet mall in Chile in the Curauma sector of Valparaiso, one of Chile´s most important port cities. The US $12 million dollar project will include more than 30 stores offering premium brand merchandise at reduced prices.

Arauco Premium Outlet Curauma is Parque Arauco´s third outlet mall in Chile after its purchase of Buenaventura Premium Outlet in Santiago in 2012 and the inauguration of Arauco Premium Outlet San Pedro earlier this year in the city of Concepcion in the south central region of the country. The 7,200 m2 of GLA will include premium brands such as Nike, Banana Republic, Esprit, Adidas, Kenneth Cole and many more. The stores offer last season´s trends at discounted prices.

Participating in the outlet format has enabled Parque Arauco to diversify its portfolio of commercial real estate. The development of outlet malls was also a response to requests from the company´s clients in its regional malls for a place to offer their excess stock. In fact many of the brands in the three outlet malls can also be found in Parque Arauco´s regional malls. The outlet mall format has also proven to withstand and even thrive during a time of an economic slowdown, given that people are more likely to take time to search for goods at more competitive prices. Besides the three outlet malls in Chile, Parque Arauco also owns and operates the premier outlet mall in Lima, Peru, InOutlet Faucett and plans to continue expanding in this format in the country.

Parque Arauco developed the first mall in Chile in 1982 and has since expanded internationally to Peru and Colombia. The company owns and operates 725,200 m2 of GLA in twelve regional shopping malls, five neighborhood centers, four outlet malls and eleven strip centers.

Contacts

Parque Arauco S.A.
Samantha Zerbe, (+562) 22990510
Head of Investor Relations
szerbe@parauco.com

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