Nuevocentro Shopping has initiated the authorization process with the Municipality of Córdoba to execute an infrastructure expansion project that includes the construction of 23,000 m2 of total area. The building plan includes adding 6,000 m2 of gross leasable area distributed across three commercial floors of 2,000 m2 each to accommodate major international brands such as Zara, H&M, Bershka, Indian, and Miniso. The proposal also plans to build three underground levels designated for commercial parking on a plot of 8,950 m2 and develop 5,400 m2 of green recreational spaces on the terraces.
The need to undertake this construction investment arises from the operational demands set by multinational fashion chains, whose stores require minimum areas ranging from 500 m2 to 2,000 m2 to establish their presence. As there are no vacant meters in their consolidated facilities, the management of the complex implemented an internal restructuring to free up 427 m2 on the first level for the opening of Victoria's Secret in November and 80 m2 for the Bath & Body Works brand. Both brands are entering the shopping center under the representation of the international operator Grupo David.
The expansion project was formally presented in October 2025 and is currently under administrative evaluation in the various departments of the Municipality of Córdoba. The director of Nuevocentro Shopping, Antonio Heinz, specified that once the final approvals are obtained, the construction work will take an estimated period of a year and a half. During this period, the executives of the shopping center will hold parallel working meetings with representatives of clothing companies interested in establishing themselves in the provincial capital.
Commercial Strategies with Regency Group and Hola Moda
The corporate dialogue for the establishment of the Spanish store Zara is managed directly with the Panamanian firm Regency Group, responsible for operating the Inditex franchise in the Latin American market. The European multinational had a physical presence in the Córdoba establishment until the late 1990s, when it reduced its territorial structure to subsequently channel its sales in the province through e-commerce. The operating company requested a space of 4,000 m2 and has already sent technical observations to the building expansion plan.
The company's estimates are based on the flow of visitors that the shopping center registers, with an average of 700,000 visitors per month, positioning it fifth nationally by foot traffic. If the arrival of the Spanish firm does not materialize, the shopping center management is maintaining parallel negotiations to add the Swedish chain H&M through the Panamanian company Hola Moda. This operating firm will begin construction of a store in Alto Palermo to debut in early 2027 and is considering expanding to the city of Córdoba.
The shopping center market in Argentina has a significant competitor in the company IRSA, owner of Córdoba Shopping and operator of the main Zara stores in the province of Santa Fe. The coexistence of two large-scale brands like Zara and H&M in the same building is unusual in the country due to the requirements for square footage and consumer flow. For this reason, local developers are adjusting the leasable areas to offer the operational capacity demanded by both multinationals in the Mediterranean territory.
Construction Timelines and Market Impact
The master building plan anticipates intervening the current open-air parking lot located at ground level near the cinema area and the supermarket. The underground infrastructure will house three levels of parking distributed over 8,950 m2 to accommodate the vehicle demand from customers who visit the site daily. Additionally, the 5,400 m2 of landscaped areas will be deployed in the public areas to improve pedestrian circulation and the shopping experience in the complex.
The smaller-scale stores belonging to the international chains Indian and Miniso plan to occupy spaces of 500 m2 within the new commercial structure. The Uruguayan firm Indian has a store on the central pedestrian street of the city of Córdoba, while the Chinese brand Miniso seeks to consolidate its presence in local shopping centers. The distribution of the new commercial stores will depend on the completion of the expansion works and the signing of the corresponding leases between the parties.
The conclusion of the municipal approval circuit will enable the start of construction tasks on the existing structure of the shopping center. The addition of the new covered areas will allow meeting the operational demands of foreign clothing companies planning to enter the province. With this building expansion, Nuevocentro Shopping aims to broaden its service offerings and consolidate its strategic positioning in the national large shopping center sector.
