Chile's Cencosud eyes Argentine retail, real estate project -newspaper [Reuters]
CENCOSUD (CNCO)
US:NYSE Investor Relations:
investors.cencosud.com/english/investor-overview/default.aspx
Company Research
Source: Reuters
Chile's Cencosud eyes Argentine retail, real estate project -newspaperSANTIAGO May 25 Chilean retailer Cencosudhas initiated the legal process to build a large realestate and commercial project in Argentina in what would be thecompany's debut in homebuilding, a local newspaper reported onThursday.The project, which would also be a boost of confidence forArgentina's slowly rebounding economy, would include a mall, sixcondominiums and three 14-floor towers, Chile's DiarioFinanciero said, without specifying the function of the towers.It would be located on a 20-hectare plot owned by the company inthe Buenos Aires neighborhood of San Isidro.The project, which Diario Financiero said was likely to costmore than $600 million, would be one of Cencosud's mostambitious in recent years.In a statement to the newspaper, the retailer confirmed itsubmitted papers to San Isidro to begin an environmental impactstudy, but noted the process was in its early stages.Cencosud has units in Argentina, Chile,
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