KEEPING MALLS AS A CENTERPIECE

The Quicentro mall in Ecuador’s capital, Quito, was the first shopping center development by the Urbanizadora Naciones Unidas company

Spending power is increasing at a faster rate in Latin American countries than in the United States. The rapid growth of private consumption has boosted construction of new malls and shopping centers.

The Deller family entered the retail real estate business with the founding of Urbanizadora Naciones Unidas, which is currently pursuing various projects in housing and retail development.

The company’s flagship development was Quicentro shopping center in Quito, Ecuador’s first shopping mall. Quicentro, which this year celebrated its 14th anniversary, has developed into the leading mall in the country and in the northern part of South America.

“Our concept for the mall was unique in Ecuador at that time,” says Michel Deller, the company’s General Director. “We pioneered the design aspects and the services orientation.”

MICHEL DELLER Michel Deller General Director of Urbanizadora Naciones Unidas	ALBERTO DELLER President of Urbanizadora Naciones Unidas

In 1997, the company advanced into the growing area of lifestyle centers with the launch of its second major project, the San Marino complex in Ecuador’s largest city, Guayaquil. Combining upscale stores with restaurants and entertainment facilities, the center is geared toward the high-end segment of the market.

Construction of housing is another area in which the company sees enormous potential. Like most countries in Latin America, Ecuador faces a serious housing shortage. “This demand, combined with projected lower interest rates, will boost construction all over the country,” Mr. Deller predicts.

Alberto Deller, Michel Deller’s father and the President of Urbanizadora Naciones Unidas, started in the textile business by founding Delltex Industrial, which is a major exporter of blankets to the United States.
His advice to U.S. investors coming to the country for the first time is to find a local partner. “The local companies know how things are done.”