The Mall Vivo Santiago project, initially a joint venture between Vivo SpA and Confuturo, welcomes Salfacorp as a new strategic partner. Salfacorp's contribution, through a capital increase, is estimated between US$15 and US$20 million, securing approximately 20% ownership.
The project, encompassing 83,000 square meters of leasable space, is slated to open in 2029. Initial investment was 5.6 million UF (approximately US$240 million). The project initially faced opposition from local residents and the municipality of Ñuñoa but received a favorable environmental impact assessment. A legal challenge to this assessment is currently pending before the Second Environmental Court.
Salfacorp, a non-controlling company chaired by Andrés Navarro, operates in engineering, construction, real estate, and rental development. The company reported healthy profits of $43.030 billion in 2024 and total revenue of US$1.056 billion in 2024. Its diversification strategy enabled it to navigate the challenges in the housing market.
The Mall Vivo project, originally envisioned as a 30-story tower with extensive parking and various amenities, is currently undergoing re-dimensioning. Construction work, including demolition and foundation work, is underway.