Parque Arauco S.A. announced a long-term agreement with the Swedish company H&M to join its malls in Pereira, Bucaramanga, and Barranquilla. During the second semester of 2023, three H&M stores totaling approximately 6,000 m2 will open to the public. The addition of H&M comes in the context of a sustained growth process in sales for Parque Arauco's shopping centers in Colombia.

This announcement is part of the several investments the company has planned in Colombia for this year, totaling CAD 38,000 million (USD 8.5 Million), including renovations and expansion of the commercial mix in different assets. These investments will be financed with the cash flows generated by the operation and are expected to be disbursed during the current year. Parque Alegra, located in the city of Barranquilla, will inaugurate a 1,900 m2 H&M store, betting on the significant growth and potential of the southern part of the city.

In Parque Arboleda, located in the city of Pereira, H&M will have a 1,900 m2 store. Additionally, the mall has expanded approximately 1,000 m2 of commercial space and reconfigured 4,700 m2, where the brands of the Inditex group, Zara, Stradivarius, and Bershka, were remodeled, generating a new experience for customers. In Parque Caracoli, located in the city of Bucaramanga, the H&M store will be 2,200 m2.

Furthermore, another 2,000 m2 of Commercial space is being converted, and in the last 12 months, 17 new brands have been incorporated. In addition to the investments in the three assets where H&M will be incorporated, Parque Arauco will also continue to strengthen the commercial mix of its main asset in the country, Parque La Colina. Along with the recent opening of Colombia's first full concept Victoria's Secret lingerie store and Michael Kors, Parque La Colina will also expand its dining options.

Having been recognized as a gastronomic destination in the capital, the mall will expand SOCIAL, its upscale food hall, with approximately 1,000 additional m2 where four new brands will complement its current offering.