Page 50 - RLIJune2026

SPOTLIGHT ON LATIN AMERICA

The Reinvention

of Retail Destinations

The Latin American retail real estate market is expanding steadily, driven by urbanisation, rising consumer
spending and growing demand for mixed-use destinations. Here, Jorge Lizan, Managing Director, Lizan Retail
Advisors (LRA) discusses the overall market and how it is reinventing its destinations for a new era of retail.

he myth of the “death of the mall” are prioritising more open and luminous environments combining retail, residential,
is false. Across Latin America, spaces, green areas, outdoor environments, offices, hospitality, gastronomy and enter-
shopping centres have evolved wellness concepts and stronger integration of tainment. This model is increasingly beco-
T by adapting to new consumer local and natural products. ming the dominant trend across the region.
demands centred around entertainment, One of the strongest trends shaping Latin Projects such as Mítikah, Miyana and
gastronomy, wellness and brand experiences. American retail is the evolution toward more ARTZ Pedregal exemplify this transforma-
Consumers - from Generation Z to older ge- open, luminous and lifestyle-oriented envi- tion. Meanwhile Antara’s expansion with the
nerations - continue to enjoy these safe and ronments. New developments increasingly upcoming Rosewood Mexico City reinforces
social environments. Far from disappearing, integrate green areas, outdoor plazas, well- the growing integration of luxury retail, hos-
shopping centres are reinventing themselves. ness concepts, natural light, local gastronomy pitality and mixed-use development in Mexi-
The future of retail destinations will not be and curated experiences that encourage lon- co City. In addition, in 2027 a highly antici-
defined solely by sales, but by their ability to ger visits and stronger emotional engagement. pated mixed-use project will open; Reforma
create memorable moments. Mexico remains one of the most dynamic Colón, with approximately 90,000sq m GLA.
Retail is now measured by experiences, retail markets in Latin America, particularly Another important trend across Latin
not sales. Stores are no longer simply points through mixed-use developments. In fact, America is the resurgence of high-street re-
of transaction; they are becoming emotional most major new commercial projects in the tail and lifestyle districts. In Mexico City,
destinations. Across the region, developers country are now integrated into mixed-use areas such as Roma Norte, Juárez, Avenida

50 Retail & Leisure International June 2026