Cencosud reviews plans for two Santiago towers

Cencosud resumed administrative reviews regarding two unfinished towers at its Costanera Center complex in Santiago, Chile. Company representatives met with the municipal building authority in December 2025 to discuss construction stages, permit validity, and traffic mitigation measures for Towers 1 and 3.

Cencosud told El Mercurio that the meeting was exclusively technical and did not represent an announcement of new capital expenditures. The original master plan designed four towers alongside the shopping mall, but the company halted construction of Towers 1 and 3 during the 2008 global financial crisis before freezing the entire project in January 2009. The shopping centre opened in 2012, and the site currently operates the 300-metre Gran Torre Costanera as Tower 2 and an AC Hotel Santiago building as Tower 4.

Real estate market reports indicate Cencosud may evaluate restarting Tower 1 around 2027 with an estimated investment of about 150 million dollars. Any future construction depends on office market conditions, pending traffic mitigations, and public transit developments like the upcoming Bicentenario Cable Car in Providencia.

Meanwhile, unit Cenco Malls continues opening office space inside the 108,000-square-metre Gran Torre Costanera. Regulators approved the first 15,000 square metres in 2015, followed by 25,000 square metres covering floors 45 to 60 in April 2025. Cenco Costanera office occupancy reached 85.2% at the close of June 2026, up from 73% in June 2025, supported by corporate tenants such as Mercado Libre.