23/07/2026 09:58 - Economia
The trendy neighborhood of Palermo in Buenos Aires, Argentina, is gearing up to welcome major international brands, proving that commercial dynamism is alive and kicking with high growth expectations.
According to La Nacion, one of Argentina's leading newspapers, the Alto Palermo shopping mall is leading a positive transformation in the area. For context, Alto Palermo is one of the most iconic malls in Buenos Aires, located right on the border of the Palermo neighborhood. This Friday, July 24, 2026, the popular Chinese lifestyle and variety store chain Miniso will open its doors, joining recent additions like Victoria's Secret and the Italian brand Intimissimi. Meanwhile, giants like Adidas and Nike are renovating their existing stores.
The most highly anticipated news is the landing of the Swedish multinational fashion giant H&M, which plans to open its first store in Argentina in November 2026. Founded in 1947, H&M has nearly 4,000 stores in over 79 countries. The local operation will be handled by Hola Moda, a group of Panamanian investors specialized in developing the brand in Latin America.
A few blocks from Alto Palermo, the leading Argentine real estate company IRSA will invest around US$10 million in remodeling the historic building of the former National Directorate of State Industries (DINIE), located at the intersection of Av. Coronel Diaz and Beruti. The 8,137 square meters property will be transformed into a mixed-use complex featuring retail spaces, gastronomy, and offices. The first spaces are expected to be operational by the first half of 2027. IRSA acquired the building in February 2022 for 2,158.6 million Argentine pesos, bringing the total investment to approximately US$30 million when including the remodeling.
Another exciting development is the opening of Palermo Off, an open-air commercial gallery located at Beruti 3336 and Arenales 3345, where the former Paseo del Sol used to operate. With an investment of US$3 million and over 2,000 square meters of space, it offers 18 storefronts and a gastronomic terrace. Currently, 15 spaces are already leased to brands like Boho, Gianni di Paolo, and Top White, many of which originated in the digital realm.
The stretch of Av. Santa Fe (one of Buenos Aires' most classic avenues) between Scalabrini Ortiz and Pueyrredon features 345 commercial premises. Although a survey by LJ Ramos, a local real estate agency, indicates a vacancy rate of 6.67% and an average asking price of US$29 per square meter, experts see an optimistic outlook. Marcelo Zuliani from Colliers, a global real estate services firm, stated that "we are at a turning point" where the arrival of new international brands will generate healthy competition and dynamism in the area.
Alfredo S. Quiroga
