Cencosud’s plan to build a large shopping center was finally thwarted after an administrative body invalidated a key project document. The decision of the Metropolitan Regional Ministerial Secretariat of Transport and Telecommunications (Seremi) – the cancellation of the Road Impact Mitigation Report (IMIV) – ruled out the possibility of moving forward with the workthat has been in the making for more than a decade.
The blow fully affects the Cenco Malls division and forces the group to consider an investment aimed at transforming a strategic area in the eastern sector of Santiago. Although the process regained formal momentum in 2023, the lack of technical and regulatory support rendered the initiative moot.
The affected project is Cencosud Shop Vitacuraplanned for the municipality of Vitacura. It was a large shopping center designed as a new service and commercial center in the eastern part of Romania Santiago. The planned investment was $125 million, reflecting the scale of development that is now permanently on hold.
As Diario Financiero reports, the authorities found technical deficiencies and administrative errors in the process. The key episode was the editing of a third version of the IMIV, which, according to Seremi, “was neither consulted with the relevant organizations nor entered into the relevant system.” This irregular submission was decisive for the invalidity of the report.
Cenco shopping centers He regretted the cancellation and emphasized that the IMIV was “a significant contribution to the start of construction.” The company warned that the cancellation “severely and decisively affected the ongoing environmental assessment,” which it said made it impossible to carry out the project under current conditions.
Seremi defended his actions and pointed out that it was his duty to ensure that the Projects meet technical and regulatory requirements. In its official communications, the company stated that it had discovered “significant procedural and technical deficiencies” in the processing.
On his part Cenco shopping centers He claimed that the errors underlying the repeal were “paradoxically due to the agency’s conduct of the process.” The company concluded that the project “cannot be implemented” with the current resolution.
From the first steps Megaproject was met with continued opposition from neighbors and local organizations, who warned of congestion on streets and a possible deterioration in the quality of life in the neighborhood. The resistance led to administrative complaints and formal comments that complicated the process.
A study commissioned by the municipality of Vitacura from Dictuc warned of significant traffic risks in the location sector. That report predicted the initiative could increase peak-hour journeys by up to “270%” and vehicle density by “97%”, warnings that reinforced technical objections raised.
The Communal observations They were accompanied by other local actors: the Neighborhood Council of Santa María de Manquehue, the Municipality of San Francisco de Sales and the Saint George’s Parents Center, all of which opposed the project due to its possible impact on the environment.
In addition, Conadi issued a warning about the possible impact on the Dhegñ-Winkul Mapuche community in Huechuraba, adding an element of social and cultural responsibility to pre-existing concerns.
The accumulation of technical failures, administrative obstacles and social opposition led to successive delays in obtaining permits and ultimately resulted in the project failing to receive regulatory support. With the repeal of the IMIV as the final point, the initiative of Cencosud has been canceled and the future of the property and commercial development plan remains uncertain.
Cencosud is one of the most important retail players in Peru, operating there mainly through the Wong and Metro supermarket chains, which the group acquired in the 2000s and transformed into central parts of its local network. These brands range from neighborhood supermarkets to larger stores and have been used by the parent company to combine the physical store experience with digital channels, strengthening its omnichannel offering and position in the Peruvian market.
In recent years, the company has once again demonstrated dynamism in the country: its reports and press releases indicate investment plans and openings to strengthen the branch network in 2024-2025, in addition to recording sales growth in the region that includes Peru. At the same time, the company is also present in other related industries such as shopping centers and specialty formats in the region, making it a conglomerate with transversal influence in the region Peruvian retail.
Cencosud – through its division Cenco shopping centers— is active in chili a network of shopping centers that includes both large shopping centers and smaller complexes, present in Santiago and in various regions.
Among the most famous venues are Cenco Costanera (formerly Mall Costanera Center), a mega center in Santiago considered one of the largest in South America, as well as Cenco Alto Las Condes, Cenco Florida and several centers under the “Portal” brand such as Cenco Portal La Dehesa, Cenco La Reina, Cenco Ñuñoa and others in regions such as Cenco Temuco, Cenco Osorno or Cenco Rancagua.
Total are in Chile Cenco shopping centers The company manages more than 30 shopping centers with a built-up area of more than one million square meters, reflecting its size and reach – both in the capital and in various cities across the country.
The group Cencosud It brings together a wide range of retail brands operating in various sectors: supermarkets, department stores, home improvement stores, shopping centers, financial services and others. The best-known names include Jumbo, Santa Isabel and SPID in Chile; In Argentina, in addition to jumbo, there is also disco and vea; In Brazil, brands such as GBarbosa, Bretas, Prezunic, among others, belong to the group.
In the case of Peru Cencosud The company mainly works with the Wong and Metro chains, the two strong brands in local retail. In addition, the group uses several of its own brands and private lines – for example under names such as Cuisine & Co or Máxima – and offers financial services under the Cencosud Scotiabank brand.
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