Parque Arauco S.A. reported a milestone in the expansion of Parque Arauco Kennedy. An agreement has been signed for the construction of a new Falabella store of approximately 25.000 m2 which will be distributed among four stories and will become the retailer's store in their portfolio. This store is in addition to the construction of the Hilton Hotel and the major hotel convention center in the country, both announced in October 2016. The company noted, the four stories of the new Falabella will be connected to the mall, the Luxury District and the Boulevard. It is estimated that construction will begin in the first semester of 2017, and the public opening will be in 2021.