Who Owns Parque Arauco Company?

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Who Owns Parque Arauco?

Understanding a company's ownership is key to grasping its strategy and accountability. Parque Arauco S.A. saw its market capitalization grow by 33% from late 2023 to early 2024, highlighting the link between ownership, governance, and financial performance.

Parque Arauco S.A., established in 1979 and headquartered in Santiago, Chile, focuses on developing, owning, and managing regional shopping centers. Its operations span Peru and Colombia, with a portfolio of 58 commercial assets covering over 1.2 million square meters of leasable area as of December 31, 2024. The company's market capitalization reached $2.07 billion with 906 million shares outstanding as of August 14, 2025. The ownership is largely influenced by a controlling group of families, impacting its strategic decisions. For a deeper dive into the external factors affecting the company, consider a Parque Arauco PESTEL Analysis.

Parque Arauco S.A. was established in 1979 by José Said Saffie, a significant figure from the influential Said family. This family had a deep-rooted history in commerce, initially in Peru and Bolivia, before their migration to Chile in the 1940s. José Said was actively involved in the family's textile businesses and played a key role in co-founding Banco del Trabajo in the 1960s, which grew to become one of Chile's largest banks.

Founding Year

Parque Arauco S.A. was founded in 1979, marking the beginning of its journey in real estate development.

Key Founder

José Said Saffie, a prominent member of the Said family, was the driving force behind the company's inception.

Early Business Acumen

José Said's background included significant involvement in the family's textile ventures and co-founding Banco del Trabajo.

Inaugural Project

The first major real estate development was the Parque Arauco Shopping Center, opened in Las Condes, Santiago, in 1982.

Corporate Incorporation

The company was officially incorporated in 1981, formalizing its business structure.

Early Ownership Adjustments

A significant restructuring in 1997 led to the division of Chilean holdings among partners.

In 1997, a pivotal restructuring saw the division of Chilean assets among the founding partners. This resulted in the Said group acquiring Tomás Fürst's 12% stake in Parque Arauco S.A. Concurrently, Fürst received the Said group's 14% share of Plaza Vespucio, which later became a cornerstone of the rival Grupo Plaza. Following this division, the Said group held a 38% ownership in Parque Arauco S.A. The Abumohor family held 10%, and two pension funds collectively owned 24% of the company's shares. This early distribution of control highlights the enduring influence of the founding family, even as initial ownership realignments set the stage for future expansion and shaped the Parque Arauco ownership structure.

Key Ownership Milestones

The early years of Parque Arauco were characterized by strategic ownership adjustments that laid the groundwork for its future growth and market position. Understanding these foundational elements is crucial for grasping the current Parque Arauco ownership.

• Founding by José Said Saffie in 1979.
• Opening of the first shopping center in 1982.
• Official incorporation in 1981.
• Significant ownership restructuring in 1997.
• Said group's acquisition of Fürst's stake, leading to 38% ownership.
• The Abumohor family's 10% stake and pension funds' 24% stake.
• This history provides insight into the Parque Arauco ownership history and its evolution.

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Parque Arauco S.A., a publicly traded entity registered with the Chilean Financial Market Commission (CMF), has seen its ownership structure evolve significantly since its authorization in 1981. The company's shares are actively traded on both the Bolsa de Comercio de Santiago and Bolsa Electrónica de Chile, reflecting its status as a key player in the regional retail property sector.

The ownership of Parque Arauco S.A. is characterized by a significant controlling group and several substantial institutional investors. As of March 31, 2025, a consortium of 14 entities operating under a joint action agreement, primarily linked to the Said, Eluchans, and Sáenz families, collectively held 27.35% of the voting shares. This group includes entities such as Inversiones Cabildo SpA, Palmas Lo Curro SpA, and VECO S.A., among others. Inversiones Cabildo SpA stands out as the largest single shareholder, holding 19.35% of the total issued shares. Other notable shareholders include BCI C DE B S A with 6.43%, Banco de Chile (acting for State Street) with 5.79%, Banco Santander Chile with 5.44%, Inversiones Jardines del Bosque Limitada with 4.71%, and Banco Santander (for foreign investors) with 4.24%. Historically, ownership dynamics have shifted; for instance, in 1997, the Said group owned 38%, with the Abumohor family and pension funds holding smaller stakes. More recently, an increase in participation by individual shareholder Jack Mosa, from 7% to 13%, highlights ongoing changes in the stakeholder landscape, influencing the company's strategic decisions in its operational markets across Chile, Peru, and Colombia, a topic also explored in the Marketing Strategy of Parque Arauco.

Key Ownership Insights

Understanding Parque Arauco's ownership structure is crucial for assessing its strategic direction and stability.

• Parque Arauco is a publicly traded company.
• A joint action agreement governs the controlling stake held by 14 entities.
• Major shareholders include families and significant institutional investors.
• Ownership shifts have historically impacted company strategy.

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Parque Arauco S.A.'s governance is overseen by a nine-member Board of Directors, with each member elected for a three-year term by the Ordinary Shareholders' Meeting. The current board, appointed on April 26, 2023, includes Salvador Said Somavía as President.

The voting power within Parque Arauco S.A. operates on a one-share-one-vote principle, a core aspect of its corporate guidelines. However, significant influence is concentrated among the Said, Eluchans, and Sáenz families. As of December 31, 2024, these families, through a joint action agreement, collectively hold 27.4% of the voting shares, granting them substantial control over the company's strategic direction. Historically, the Said family alone has demonstrated the ability to elect a majority of the directors. With strategic alliances, their voting power can extend to approximately 40%. Recent shareholder activities, such as Jack Mosa's increased stake to 13% in 2025 and his successful bid for a second board seat, illustrate ongoing efforts to influence board composition and enhance independent representation, as seen with Fernando Massú's prior election in 2019.

Understanding Parque Arauco's Ownership Structure

The ownership structure of Parque Arauco is characterized by a blend of family control and institutional investment. Understanding who owns Parque Arauco is key to grasping its corporate governance.

• The Said, Eluchans, and Sáenz families hold a significant portion of voting power through a joint action agreement.
• As of December 31, 2024, this agreement accounted for 27.4% of the voting shares.
• Individual shareholders can influence board representation, as demonstrated by recent activism.
• The company adheres to a one-share-one-vote principle, underpinning its stock ownership framework.
• For a deeper dive into the company's evolution, explore the Brief History of Parque Arauco.

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Over the last few years, Parque Arauco S.A. has actively reshaped its ownership and asset management. The company experienced a significant market capitalization increase of 33% from the end of 2023 to the first quarter of 2024, indicating strong investor confidence.

Parque Arauco has strategically acquired key assets and managed its portfolio through capital recycling. The acquisition of Open Plaza Kennedy in 2024 for CLP 4.8 million has made it the top-performing mall in Chile by sales. Further expanding its regional footprint, the company completed the purchase of Minka Shopping Center in Peru in July 2025 for $100 million. To bolster its financial standing, Parque Arauco sold a 49% minority stake in Todo Arauco SpA, which manages several premium outlets in Chile, to Administradora de Fondos de Pensiones Habitat S.A. in October 2024. This transaction valued the outlets at approximately US$173 million, with the stake sale generating around US$36 million. Parque Arauco continues to manage these assets and retains an option to repurchase the stake within 10 years, a move that aligns with industry trends of freeing up capital for new ventures.

Portfolio Expansion

The company is actively growing its portfolio through strategic acquisitions, enhancing its market presence in key regions.

Capital Recycling Strategy

Selling minority stakes in established assets allows for reinvestment in future growth opportunities and strengthens financial flexibility.

Verticalization and New Uses

Parque Arauco is exploring verticalization and additional uses for its properties, including multifamily projects, with new openings planned into 2026.

Leadership Transition

Following the passing of founder José Said Saffie in July 2020, Salvador Said Somavía now serves as Chairman, indicating a generational shift in leadership while maintaining family influence.

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