After arduous negotiations, the Chilean group Cencosud has finally reached an agreement to keep the traditional Jumbo hypermarket on the army site that the government sold to the Consultatio company, the developer owned by Eduardo Costantini, for US$ 127 million. This is the 4.4-hectare plot located between Bullrich and Dorrego, where the hypermarket has been operating since 1994. Cencosud had a ten-month deadline to vacate the plot once the transfer was finalized, but this Saturday the companies announced they had reached an agreement to have a Jumbo in Consultatio's real estate project, according to the La Nación newspaper. The new Jumbo store will have 7,000 square meters of sales space, feature a cutting-edge design, and align with the proposal that Consultatio is planning as the developer for the entire sector. An investment of US$ 350 million is projected. Cencosud is one of the largest private employers, with approximately 23,000 workers nationwide. It has been operating in Argentina for 40 years and has more than 300 supermarkets, 60 stores between Easy and Blaisten, and 22 shopping malls. At the beginning of the year, it also acquired the wholesale chains Makro and Basualdo (cleaning and perfumery items) for US$ 122.5 million.
