04 de January de 2024

Desarrollo País progresses in collaboration agreement with Santiago Metro to drive urban regeneration projects and acquires land for Line 6 extension

Santiago,– On August 29, 2023, the Extraordinary Shareholders' Meeting of Desarrollo
País authorized the use of funds contributed by shareholders to the capital of Desarrollo
País for the acquisition of the property known as Lo Errázuriz in the commune of Cerrillos.
This acquisition is intended for the development of an innovative urban regeneration
project in collaboration with Metro S.A.

Santiago,– On August 29, 2023, the Extraordinary Shareholders’ Meeting of Desarrollo País authorized the use of funds contributed by shareholders to the capital of Desarrollo País for the acquisition of the property known as Lo Errázuriz in the commune of Cerrillos. This acquisition is intended for the development of an innovative urban regeneration project in collaboration with Metro S.A. This pioneering project aims to transform the surroundings of Santiago Metro stations by creating mixed-use buildings that benefit both the community and involved public institutions.

This initiative is part of the General Collaboration Agreement signed between Desarrollo País and Metro S.A. with the objective of developing improvement and urban regeneration projects around Metro stations, capitalizing on public investment and contributing to the modernization of the city's infrastructure. This initiative is a response to the need for land acquisition by Metro S.A., as well as opportunities for real estate development on the remaining surface of the stations.

The proposed management model involves Desarrollo País acquiring the land where the future terminal station of Line 6 west of Metro will be located, which will also connect with the future EFE project called Melitren. Subsequently, Desarrollo País will lease it to Metro S.A. during the construction phase of the mentioned station and associated tunnels. Once the construction is completed, Desarrollo País will carry out a mixed-use project, including rental housing, commerce, and equipment, fostering a strategic collaboration to capture added value and promote sustainable urban development.

One of the first concrete steps in this agreement is the acquisition of the land for the future Lo Errázuriz station at the western end of Line 6 of Metro by Desarrollo País, with an estimated investment of UF 300,000.

This project represents our commitment to optimizing public investment and modernizing the State through the development and execution of urban regeneration projects, enabling our mandate and the vocation of being an agile and efficient company. The proposed mixed-use buildings will promote territorial equity, densifying around Metro stations and creating a more integrated and functional urban environment," explains Patricio Rey, CEO of Desarrollo País.

Desarrollo País celebrates this significant step towards the transformation and improvement of urban infrastructure and anticipates the implementation of a portfolio of similar projects in different regions of the country, contributing to the construction of a more modern, sustainable, and inclusive city.