Jockey Plaza Diversifies into Residential Real Estate with $85 Million Investment
Grupo Jockey Plaza is expanding its business portfolio with a significant entry into the residential real estate market. The company is launching Tropic Asia Homes, an $85 million resort-style residential project located in the Boulevard de Asia, south of Lima, Peru. This marks a strategic shift for the traditionally retail-focused group, signaling a broader move towards mixed-use development.
The project, announced on April 29, 2026, will encompass 350 housing units developed in three phases on a 30-hectare plot of land. Beyond the residential component, Grupo Jockey Plaza envisions integrating hospitality, healthcare, and educational facilities into the area, aiming to establish a comprehensive urban hub combining living spaces, commerce, and services.
According to company statements, the move is part of a long-term diversification strategy. The Boulevard de Asia already operates as a commercial center, and this expansion is intended to build upon that existing infrastructure. The company anticipates that this new venture could represent up to 25% of its overall business.
The investment in Tropic Asia Homes reflects a broader trend in the Peruvian real estate market, which saw a 22% increase in sales during the first nine months of 2025, with a record absorption rate of 4.3%. Demand for housing and mixed-use developments, particularly in the southern Lima region, is driving this growth. This positive market momentum has encouraged Grupo Jockey Plaza to pursue opportunities beyond its core retail operations.
Tropic Asia Homes is designed as a year-round residential community, offering over 20 resort-style amenities and more than 10,000 square meters of green space. The project aims to provide a private and tranquil living environment, appealing to those seeking a balance between city convenience and a relaxed lifestyle. The company highlights the strategic location and the increasing value of land in the Asia region as key factors in the investment’s potential for long-term returns.
Grupo Jockey Plaza’s foray into residential development underscores a growing trend among established Peruvian companies to diversify their revenue streams and capitalize on the country’s expanding real estate sector. The project is expected to contribute to the ongoing development of the Boulevard de Asia as a key destination for both residents and visitors.
More information about the project can be found at tropicasiahomes.pe.
