SANTIAGO May 25 Chilean retailer Cencosud
has initiated the legal process to build a large real
estate and commercial project in Argentina in what would be the
company's debut in homebuilding, a local newspaper reported on
The project, which would also be a boost of confidence for
Argentina's slowly rebounding economy, would include a mall, six
condominiums and three 14-floor towers, Chile's Diario
Financiero said, without specifying the function of the towers.
It would be located on a 20-hectare plot owned by the company in
the Buenos Aires neighborhood of San Isidro.
The project, which Diario Financiero said was likely to cost
more than $600 million, would be one of Cencosud's most
ambitious in recent years.
In a statement to the newspaper, the retailer confirmed it
submitted papers to San Isidro to begin an environmental impact
study, but noted the process was in its early stages.
Cencosud has units in Argentina, Chile, Colombia and Peru.
It operates supermarkets, department stores and malls, among
(Reporting by Gram Slattery; Editing by Dan Grebler)