We are pleased to see the square in full swing after having reached a time of less movement, acceptance and activity.
SANTO DOMINGO.- The emergence of modern plazas at the beginning of the 21st century put shopping centers in a difficult position, centers that until then had thrived under the exclusive reign of the concept of variety.
The Dominican market saw the opening of eleven new shopping centers between 2000 and 2012. The last ones, inaugurated in 2012, were the ones that generated the greatest revolution, with their attractive and varied offerings.
The iconic Central Plaza was one of the most impacted by the new concepts of establishments that arrived loaded with complete and innovative offers, amenities and luxuries.
The instability was not long in coming, and by the end of 2011 the problems threatened to wipe out what in the nineties was the trendy plaza of the Santo Domingo metropolitan area.
But like the Phoenix, the "Dean of the great squares," as its administrator, Porfirio Rodríguez, calls it, has risen again, carrying out a renovation process that places it today with 85% occupancy and plans to expand areas for the comfort of its customers.
“We have recovered; we had a period of decline and now we are in the process of rising. We are pleased to see the plaza in full swing after having reached a time of less movement, acceptance and activity,” the executive with more than 15 years linked to the establishment states with satisfaction.
Rodríguez's latest feat was convincing the owners of Ferretería Cuesta to install a Supermercado Nacional instead, a resounding success that has added to the new dynamism in the plaza.
This iconic shopping center, which opened in 1988, boasts approximately 280 stores, 40,000 square meters of construction, and nearly 1,000 parking spaces; plans are underway to build an additional 220 modern parking spaces for customers. It currently has three levels and an extension on the fourth floor. The majority of businesses are cell phone stores, with around 60, leading some to refer to it as "the cell phone plaza.".
“In 2013/2014 nobody was interested in a space in the square, on the contrary, they came to tell me help me sell the premises. Now the opposite is happening, even after the pandemic, more people have come looking for premises to buy or rent than in 2015,” explains Rodríguez.
Unlike newer shopping centers managed by exclusive economic groups, Plaza Central has more than 200 owners, making decision-making complex.
Its manager highlights the positive aspects of this situation, which "brings a diverse approach to the work ethic. When you're a tenant, the first sign of trouble is packing up and leaving, but when you're an owner, you feel emotionally committed and ready to fight. That's what has allowed us to resolve many crises," he points out.
One of the strengths of this plaza, besides its prime location, is its ability to retain iconic businesses, coupled with a loyal clientele and good profitability. “Our condominium costs are low, which makes profit margins competitive.”.
Rodríguez thanks the Owners' Council who have helped him overcome the various crises, reconciling conflicts, which has allowed him to withstand the onslaughts, fight back and keep the shopping center standing.
