Mexico's Planigrupo to invest US$164 mln over next 3 years

Mexican shopping mall operator Planigrupo LATAM plans to invest 3 billion pesos (US$164 million) to develop 12 new projects over the next three years, company executives said on Tuesday.

The company has a portfolio of 29 commercial units in Mexico aimed at the middle class, and is looking to expand across the country's provinces, Chief Executive Elliott Bross said at a press conference.

Planigrupo, which went public two weeks ago, is also interested in expanding abroad in coming years, especially to Colombia, Peru and even Argentina, Bross said.