Cencosud announced an investment of over US$60 million to begin a new phase of expansion and modernization of Unicenter, one of the most important shopping centers in the country. The project will start this month in Martínez, Buenos Aires province, and represents a new sign of confidence from the private sector in the Argentine market.
The project includes the addition of 20,054 square meters of new construction and another 16,000 square meters of leasable space. With this expansion, the shopping center will add 85 new retail stores to the existing 282, bringing the total to around 367 stores, in addition to new stands and decks in common areas.
The new spaces will be available starting in October 2027.
The transformation aims to broaden the traditional commercial offering, respond to the strong interest from foreign brands to enter the country, and consolidate Unicenter as a comprehensive space for consumption, services, entertainment, and social interaction. Among the main innovations is the creation of a health hub, which will include a clinic and a vaccination center, along with a complete renovation of the gym.
Additionally, the company plans to expand the dining sector with new offerings and make improvements to circulation infrastructure, vehicular accessibility, and green areas. The goal is to modernize the visitor experience and adapt the shopping center to an increasing demand following the rise in economic activity.
Unicenter hallways.
Cencosud explained that the expansion responds to the strong interest from national and international brands to establish themselves in Unicenter, especially with flagship stores. Recently, the shopping center has incorporated brands such as Boss, Armani, Calvin Klein, Victoria’s Secret, Skechers, Miniso, and Indian, which has reinforced its positioning within the premium segment.
The country manager of Cencosud Argentina, Dolores Fernández Lobbe, stated that this expansion represents a long-term commitment to Argentina and to the evolution of retail as a space for meeting, experience, and community. She also emphasized that the country is a strategic market for the company and that the investment reflects a vision of sustained growth.
In the same vein, Sebastián Núñez, general manager of the Cencosud Shopping Division in Argentina and Regional Operations of CencoMalls, stated that currently all brands want to be in Unicenter and develop their flagship stores there, which has created direct pressure on the available square meters.
The executives of the firm decide to make a long-term investment in the country.
The construction will be carried out in phases so that Unicenter, which receives around 3 million people per month, can continue to operate normally. The estimated execution time will be 16 months, and the opening is scheduled for October 2027.
According to the company, the project will generate more than 600 jobs between the construction phase and the subsequent operation of the new stores and services. The investment adds to other recent moves by Cencosud in the country, such as the acquisition of Makro and the renovation of Jumbo Palermo alongside Consultatio.
