Become a member of The Cuenca Dispatch and access exclusive weekly reports on Ecuador's economy, politics, crime and more that you will not find published anywhere else on the web.

Ecuador's Original English Language Newspaper

Favorita Corporation’s $30 Million investment brings first Megamaxi store and new shopping center to Cuenca

Published on May 29, 2023

If you find this article informative…

Members receive weekly reports on Ecuador’s economics, politics, crime and more. Plus, NO ADS.

Start your subscription today for just $1 for the first month.

(Regular subscription options $4.99/month or $42/year/)

Click here to subscribe.

Update to: Construction of Megamaxi begins in Cuenca and will bring hundreds of new jobs

Published: Volume 5, Issue 47

Expansive new mall with over 52,000 m² set to open by year’s end.

Favorita Corporation is constructing a shopping center in Cuenca, which will house the first Megamaxi store in the city along with other subsidiaries such as Maxitec, MegaKywi, Sukasa, Tatoo, TVentas, and Librimundi. Additionally, the second Juguetón will operate in the capital of Azuay.

The shopping center will feature various amenities, including a gym, financial institutions, and food stores. Corporación Favorita has announced an investment of $30 million in these new commercial spaces.

The shopping center, named Megamaxi Paraíso, is currently being built on Avenida 24 de Mayo and Av. August 10, in the Colinas de Paraíso sector, near the Yanuncay River. Spanning over 52,000 m², the shopping center will provide 751 parking spaces across three levels.

Megamaxi Paraíso, exclusively, will offer an expansive sales area of over 6,500 m², equipped with 25 checkout counters. Express and preferential checkout options will be available for pregnant women, people with disabilities, and the elderly. Private security and parking services will be provided for the convenience of customers.

In terms of employment, Corporación Favorita expects to create approximately 300 direct jobs through and its subsidiaries and Juguetón. Additionally, an estimated 1,500 indirect jobs are projected, which includes labor and construction contractors. A similar number of additional jobs is anticipated once the entire project is fully operational.

Megamaxi Paraíso will be constructed in compliance with LEED environmental certification standards, incorporating strategies that promote environmental stewardship, efficient design, and energy-saving systems. The aim is to enhance energy efficiency, reduce water consumption, minimize environmental impact, and provide better comfort conditions for users.

Furthermore, the shopping center will feature a Gira Point, where customers and the community can deposit ten types of recyclable waste. Gira, a subsidiary of Corporación Favorita, will manage and process the waste.


Submit a Comment

Your email address will not be published. Required fields are marked *

Share This