Business
Cencosud to invest $60mn in Argentina's Unicenter expansion, adding 85 new stores
Cencosud to invest $60mn in Argentina's Unicenter expansion, adding 85 new
About this update from Cencosud S.a.
Cencosud will invest more than $60mn to expand and modernise Unicenter, one of Argentina’s largest shopping centres, adding 85 new retail units and more than 20,000 square metres of new construction in Buenos Aires province, with works set to begin this month and completion scheduled for October 2027 , La Nación reported. The project will add 20,054 square metres of built space and approximately 16,000 square metres of leasable area, increasing the number of stores from 282 to around 367. The expansion will also include additional kiosks and outdoor commercial spaces within common areas. According to the company, the mall redevelopment is designed to broaden Unicenter’s role beyond traditional retail by incorporating new services and amenities. Planned additions include a healthcare hub featuring a clinic and vaccination centre, a fully renovated gymnasium, expanded dining facilities and improvements to circulation infrastructure, vehicle access and green spaces. Cencosud executives said the investment responds to strong demand from both domestic and international brands seeking flagship locations at the shopping centre. In recent years, Unicenter has attracted several global and premium brands, increasing pressure on available retail space. “This expansion represents a concrete long-term commitment to Argentina and to the evolution of retail as a space for meeting, experience and community. Argentina is a strategic market for Cencosud and this investment reflects our vision of sustained growth in the country,” Dolores Fernández Lobbe , country manager of Cencosud Argentina, said. Sebastián Núñez, general manager of Cencosud Argentina’s shopping division and regional operations at CencoMalls, said demand from retailers continued to grow. “Today all brands want to be in Unicenter and develop their flagship stores there, generating direct pressure on the existing square metres,” he said. Company representatives said consumers have become more selective in their spending decisions, while remaining responsive to new products, experiences and value-driven offerings. They added that shopping centres continue to strengthen their role as destinations for entertainment and social interaction as well as retail activity. Construction will be carried out in stages to allow the centre, which currently receives around 3mn visitors each month, to remain fully operational throughout the works. Cencosud said the project is expected to create more than 600 jobs during both the construction phase and the subsequent operation of the new stores and services. The investment forms part of Cencosud’s broader expansion strategy in Argentina , following recent initiatives including the acquisition of Makro and the redevelopment of the Jumbo Palermo complex. © 2026 bne IntelliNews, source Magazine