Corporación La Favorita is set to unveil its inaugural Megamaxi in Cuenca come mid-November 2023, following an extensive two-year construction effort bolstered by a substantial $35 million investment.
Corporación La Favorita’s new Megamaxi is in the El Paraíso sector, in the eastern part of Cuenca, and Álvaro Rothembach, the regional manager overseeing the southern sector of Corporación Favorita, has tentatively marked Friday, November 17, 2023, as the auspicious date for the grand opening.
While awaiting final confirmation, the civil work has been successfully concluded. As of September 25th, the commercial spaces are already bustling with activity as they meticulously prepare to welcome the eager public.
Completely new store model
This new retail haven boasts an impressive 52,000 square meters of architectural splendor, standing tall in the El Paraíso sector, a beacon in the heart of the Azuay capital.
The Megamaxi endeavor in Cuenca deviates from the conventional shopping center model, as Rothembach explained. This visionary project is categorized as a ‘power center,’ a concept defined by its unique amalgamation of subsidiaries under one corporate umbrella, complemented by a host of supplementary services. This groundbreaking complex, christened Wayra Plaza (wayra, the wind of the gods), represents a monumental leap forward for the Favorita Corporation.
Everything in one place
For the first time in their illustrious history, numerous Corporación Favorita subsidiaries will converge in a single space, according to Rothembach. Here, the Megamaxi hypermarket unfurls across an expansive 6,500 square meters, flanked by MegaKywi, a colossal hardware store sprawling across 6,000 square meters. Sukasa makes its second appearance in Cuenca yet distinguishes itself as the inaugural location featuring two floors dedicated to exhibition and sales, aligning with formats in Quito and Guayaquil.
Playful claims its rightful place as the city’s second outpost, while Maxipet and Maxitec debut as a new pet store and tech haven, respectively. Maxitec stocks a treasure trove of computers, laptops, cell phones, projectors, printers, and an array of technological marvels.
The Megamaxi is set to flood Cuenca with an astonishing array of over 111,000 diverse products spanning various categories including food, textiles, beauty, appliances, hardware, gardening, sporting goods, and more.
Moreover, this commercial utopia will house a Smart Fit gym, yet another subsidiary of Corporación Favorita, alongside a dedicated banking zone featuring four prominent financial institutions. Librimundi, a revered literary haven, also secures a fresh perch within this expansive complex. Delectable culinary options, a full-service hair salon, and an assortment of ancillary services further augment the Megamaxi experience.
New road design, parking and a massive investment
To accommodate the surge of eager patrons, the ‘power center’ encompasses a spacious parking lot, affording 700 convenient parking spaces, with three designated entry points for vehicular access. A comprehensive road revamp was executed to preempt congestion in the surrounding precincts. Additionally, a linear park and a dedicated dog park have been incorporated, ensuring that even four-legged companions are welcomed with open asrms.
The Cuenca Megamaxi venture stands as one of Favorita Corporation’s most pivotal nationwide projects over the past two years, keenly anticipated by the local populace, attests the regional manager.
Over the last half-decade, the business conglomerate has channeled nearly $50 million into Cuenca, underscoring their steadfast commitment to the region’s growth. In 2021, Supermaxi and Titan stores were inaugurated, further bolstering Favorita’s presence in the area.
In terms of employment, the construction phase of Megamaxi generated more than 600 jobs, with the forthcoming operational phase set to provide approximately 350 direct positions and an additional 1,000 indirect opportunities, according to figures released by the Corporation. This monumental investment not only signifies a boost to the local economy but also underscores Corporación Favorita’s dedication to the community it serves.