Peru could reach up to a hundred shopping malls over the next three years according to Gonzalo Anzola, president of the Association of Shopping Centers in Peru (ACCEP).
“In two or three years, - according to existing projects - we will double the number of shopping centers, and we will be at about 80 or 100 throughout Peru,” he said.
Anzola said new shopping malls were being developed in Chimbote, Cajamarca and Cusco, among others.
He added that Lima did not have enough land available for the construction of new shopping centers, and that backers were analyzing possible areas for investment.
"Investments have not stopped. Investments are prepared two years in advance, so that in 2011 we are seeing investments that started in 2009," he said according to El Comercio.
Anzola said that Peru's economic situation in 2009 was under the effects of the international financial crisis, and that therefore, investments in malls had diminished.
Investors, he said, are projecting that in two years shopping centers in the provinces would account for 40% of total sales.
“The provinces will be of particular importance for investments and sales,” he said.
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