Mallplaza signs deal to buy eight Colombian shopping centers

Mallplaza has signed a binding agreement with Pactia to acquire eight Gran Plaza shopping centers in Colombia, a transaction that would expand the retailer’s regional footprint and add 180,000 square meters of gross leasable area. The deal still needs final closing conditions and approval from Colombian regulators.

Why it matters: - The acquisition would deepen Mallplaza’s push in Colombia, one of its core growth markets in the Andean Region. - If completed, the transaction would lift Mallplaza’s total gross leasable area to more than 2.5 million square meters and expand its network to 45 assets across Chile, Peru and Colombia. - The deal would add reach in several Colombian cities and bring Mallplaza’s area of influence to close to 3.6 million people. - The purchase could become the largest shopping center transaction in Colombia by number of assets and gross leasable area.

What happened: - Mallplaza signed a binding agreement with real estate fund Pactia to acquire eight Gran Plaza shopping centers in Colombia. - The announcement came on July 31, 2026, from Santiago, Chile. - The assets are located in Pitalito, Florencia, Ipiales, Yopal, Soledad and Bogotá. - Mallplaza already operates five urban centers in Colombia: Mallplaza NQS in Bogotá, Mallplaza Cali, Mallplaza Cartagena, Mallplaza Manizales and Mallplaza Buenavista in Barranquilla.

The details: - The eight shopping centers drew close to 57 million visitors last year. - The assets generated about COP 111 billion in net operating income over the last 12 months, or roughly USD 35.4 million. - The transaction price is COP 1,177,806,418,253, or about USD 376 million, before customary price adjustments. - The acquisition would add 180,000 square meters of gross leasable area in Colombia. - Mallplaza said the deal would raise its Colombian gross leasable area to more than 460,000 square meters. - Colombia would represent 18.4% of Mallplaza’s total gross leasable area after the transaction. - Mallplaza said the new assets would strengthen its presence in Bogotá and other regional cities.

Between the lines: - The agreement signals continued consolidation in Colombian retail real estate. - Mallplaza is using scale to reinforce its position as a regional platform rather than relying on one market. - The emphasis on city coverage and people-centered development suggests the company is pairing expansion with a broader urban strategy.

What's next: - The deal still depends on customary closing conditions. - Colombian regulatory approval is also required before the acquisition can close. - If completed, Mallplaza will control 13 assets in Colombia and 45 in the Andean Region overall.

The bottom line: - Mallplaza is betting that Colombia will remain a growth engine, and this deal would give the company a much bigger retail footprint if regulators sign off.