Parq Arauco

What it is

Parque Arauco opened its first shopping mall in Chile in 1982, then expanded into Peru in 2005 and Colombia in 2008. Today it owns and operates regional malls, outlet centres, neighbourhood strips, and — increasingly — rental apartments and offices across all three countries.

Its portfolio spans 58 commercial assets covering over 1.2 million square metres of rentable space as of end-2024. Formats range from regional and outlet malls to strip centres, with tenants including department stores, supermarkets, restaurants, cinemas, and health centres.

Who owns it

Parque Arauco was founded in 1979 by José Said Saffie, a member of the influential Said family. As of March 2025, a consortium of 14 entities operating under a joint action agreement, primarily linked to the Said, Eluchans, and Sáenz families, collectively held 27.35% of the voting shares.

Inversiones Cabildo SpA is the largest single entity within the controlling group, holding 19.35% of total issued shares. Separately, investor Jack Mosa raised his personal stake to around 13% in 2025 and secured a second board seat, signalling active outside shareholder engagement.

Who runs it

Eduardo Pérez Marchant serves as Chief Executive Officer, appointed by the board effective May 2022. He joined the company in 2013, previously ran the Colombia and international divisions, and before that worked at McKinsey & Company and Santander Asset Management.

Francisco Moyano serves as Chief Financial Officer. The board has nine directors elected for three-year terms, with an average tenure of 12.5 years as of 2024.

The money, in plain words

Revenue has grown fast: CLP 264 billion (~USD 291 million) in FY2023 to CLP 384 billion (~USD 423 million) in FY2025 — a rise of 45% over two years (our calculation). For every peso of rent it collects, Parque Arauco keeps about 37 cents as net profit — a net margin of 37.2% (TTM, EODHD), exceptional for a property company of any kind.

For every peso its owners have invested in the business, it earns back roughly 12 cents a year — a return on equity of 12.0%, respectable for a real-estate owner carrying a large asset base. The stock trades at 22.3 times earnings (price-to-earnings of 22.3×), a growth-company multiple that prices in continued expansion; the dividend yield of 1.42% is modest, consistent with a company that prefers to reinvest.

The company distributes at least 30% of net profit annually by policy, paying CLP 40 (US$0.04)per share in May 2025 for FY2024.

What it is doing now

On 2 July 2025, Parque Arauco completed the acquisition of the Minka shopping centre from Grupo Centenario, valuing the asset at PEN 381 million (US$420 k) (approximately USD 108 million) at enterprise value. Minka spans more than 54,000 square metres of rentable space, hosts over 540 stores, and draws more than 18 million visitors a year.

Minka is now Parque Arauco’s second-largest asset in Peru by sales and foot traffic, behind only MegaPlaza Independencia. The company is also pressing into rental housing: it launched its first residential rental building in Peru — 141 units in Miraflores, Lima — in 2025, reaching 30% occupancy within three months of opening.

What to watch

• Leverage: Structured data does not disclose total debt; management targets a net-debt-to-operating-cash-flow ratio of 5–6×. Parque Arauco aims to maintain that ratio while recycling capital through minority-stake sales in stabilised assets. Watch whether the Minka purchase pushes it beyond that band.
• Tourist spending: Argentine shoppers represented 6% of Chilean mall sales in 2025, up from 4% in 2024, but management expects that share to fall back to 4% in 2026 — a mild revenue headwind for the Chile portfolio.
• Shareholder dynamics: Jack Mosa’s growing 13% stake and second board seat signal that outside shareholders are becoming a more active force in governance.
• Mixed-use growth: Management’s stated plan to integrate residential rental buildings into shopping centres — already launched in Peru and announced for Chile — tests a strategy that adds complexity but could lift asset values materially.

This is news, not investment advice.