CHILE – Falabella informed that it will sell to Parque Arauco the Open Plaza Kennedy shopping center and the entity that operates the Courtyard Hotel by Marriott inside the center, in Las Condes, Santiago.

Falabella’s CEO, Alejandro González, stated that this move aligns with the company’s strategy to simplify operations and optimize capital allocation. By focusing on its core business and strategic assets, Falabella aims to enhance its value proposition. Notably, Sodimac, Ikea, and Tottus will remain operational at Open Plaza Kennedy.

This sale comes amid improved financial results for Falabella, which reported profits of USD 122 million for the 2Q-2024, a 135% increase from the previous year. The EBITDA for this period was USD 344 million, showing a 131% year-over-year rise.

Open Plaza Kennedy spans approximately 70,000 m² and features retail, supermarkets, restaurants, entertainment areas, and offices. Recent upgrades include eco-friendly initiatives like biodigesters, electric vehicle charging stations, LED lighting, and low-consumption fixtures as part of its sustainability efforts.