Mallplaza posts Q1 2026 EBITDA of USD 140.5 million as profits rise 20.5%

By AI, Created 11:05 AM UTC, May 20, 2026, /AGP/ – Mallplaza reported stronger first-quarter 2026 results across EBITDA, revenue and net income while pushing ahead with a more than USD 600 million investment plan in Chile, Peru and Colombia. The company is also expanding into residential and complementary businesses as it seeks to lift the share of Tier A assets above 70% of portfolio GLA.

Why it matters: - Mallplaza is using a stronger quarter to accelerate a multiyear investment plan aimed at upgrading its top urban assets. - The company is also widening its business mix beyond malls, with residential, parking and advertising positioned as additional growth engines. - The results come as Mallplaza pushes to increase the share of Tier A assets to more than 70% of portfolio GLA.

What happened: - Mallplaza reported first-quarter 2026 EBITDA of USD 140.5 million, up 5.2%. - Net revenues reached USD 178.4 million, up 6%. - Net profits rose 20.5% to USD 91.6 million. - FFO totaled USD 105.4 million, up 6.3%. - The company’s 37 urban centers received more than 95.8 million visits. - Same Store Rent increased 5.1%. - Mallplaza operates in Chile, Peru and Colombia.

The details: - Mallplaza said it has executed more than 50% of its investment plan announced in 2025. - The plan is focused on strengthening the value proposition of its main urban centers in the region. - The company wants Tier A assets to represent more than 70% of the portfolio’s GLA. - Work has already started or is about to start at Mallplaza Trébol, Mallplaza Oeste, Mallplaza Trujillo and Mallplaza Piura. - CEO Pablo Pulido said the expansions are designed to improve each asset’s value proposition and adapt to changing customer needs. - Mallplaza reported leverage of 2.3 times, measured as net financial debt divided by EBITDA. - The company said its capital structure helped support market confidence. - Mallplaza moved into the FTSE “Large Cap” category. - Mallplaza also increased its weight in MSCI. - The company placed its first corporate bond in the Peruvian market at 7.16% with a 15-year maturity and a 76-basis-point spread. - Mallplaza said the spread was the lowest recorded in the local debt market for an issuer in the sector.

Between the lines: - The quarter suggests Mallplaza is combining steady operating growth with balance-sheet discipline. - The bond pricing and index upgrades point to broader investor support for the company’s expansion strategy. - The residential push signals a move to monetize land and urban-center real estate in ways that could be less dependent on traditional retail traffic. - Complementary businesses such as parking and advertising grew 17.3%, showing those lines are already contributing more momentum.

What’s next: - Mallplaza expects its investment plan to keep advancing through the current expansion works and additional projects. - The company said its residential strategy has potential for 10,000 homes across the region, creating 500,000 m2 of useful space for lease, sale and land monetization. - Mallplaza is executing 2,000 of those homes through land sales and the multifamily project at Mallplaza Vespucio. - The Mallplaza Vespucio project is planned for rental use, with 11,000 m2 of leasable area across 320 units. - The company is also pursuing more regional alliances for parking and advertising.

The bottom line: - Mallplaza is pairing stronger quarterly earnings with a larger real-estate and capital-markets playbook to deepen growth beyond traditional mall operations. - More information: Mallplaza on LinkedIn