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The Miramar Trade Center is a mixed-use office and retail complex located in the Miramar district of Havana, Cuba, spanning six buildings with about 56,000 square meters of net rentable space. Developed from 1999 to 2006 through a joint venture between Corporación CIMEX S.A. and CEIBA Investments Ltd., it anchors Havana's emerging business district opposite the Meliá Habana Hotel, between Avenues 3ra and 5ta and Streets 70 and 80.
The tenant mix combines approximately 150 office tenants, including travel agencies and airline offices, with ground-floor retail such as pharmacies, restaurants, cafeterias, appliance stores, grocery markets, and jewelry shops, making it Cuba's largest shopping center.
Market position benefits from Miramar's affluent, diplomatic neighborhood, attracting expatriates, business professionals, and upper-middle-class locals amid gradual economic reforms.
Leasing advantages include flexible spaces from 50 to 7,000 square meters per floor, covered parking for 200 cars, and high visibility along major avenues, ideal for international retailers testing the Cuban market. However, challenges arise from limited consumer spending due to economic constraints, currency controls, and U.S. embargo impacts, resulting in moderate footfall focused on essentials rather than luxury.
Occupancy remains strong in completed phases, but unrealized expansion plans and regulatory barriers for foreign leases introduce uncertainty.
Accessibility via 5th Avenue supports local traffic, though public transport limitations and competition from informal vendors affect performance.
Overall, it suits niche retailers in services and daily goods, with risks tied to political and market volatility.
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Hours of Operation
Hours
| Monday | 10:00 AM — 09:00 PM |
| Tuesday | 10:00 AM — 09:00 PM |
| Wednesday | 10:00 AM — 09:00 PM |
| Thursday | 10:00 AM — 09:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 11:00 AM — 06:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Accessibility
Miramar Trade Center draws from an affluent demographic in the Playa municipality, including diplomats, expatriates, and higher-income Cuban professionals, with a residential profile supporting targeted retail. Accessibility along 5th Avenue facilitates vehicle and pedestrian traffic, enhanced by proximity to hotels and offices, though limited public transit and urban congestion in Havana constrain broader footfall. Estimated daily visitors rely on local office workers and residents, positioning it for steady but not high-volume retail performance amid Cuba's transport challenges.
Tenant Mix and Occupancy
The complex features a balanced tenant mix of offices (150 firms like airlines and agencies) and retail (pharmacies, groceries, dining, appliances), fostering synergy between business and consumer traffic. Occupancy in Phases I and II is near full, reflecting demand in Havana's limited premium space market, but retail categories show saturation in essentials with weaker luxury segments. This setup advantages complementary leasing, though economic factors limit expansion and tenant diversity.
Market Factors and Lease Risks
Havana's retail market faces saturation in basic goods and low consumer spending, with Miramar Trade Center competing against informal markets and smaller centers like Plaza Carlos III. Lease terms, managed by the joint venture, offer negotiated rents suited to strategic tenants, but lack public data on levels; advantages include stable occupancy, while risks encompass political instability, regulatory hurdles for foreigners, and aging infrastructure in Cuba's context, potentially impacting long-term viability.
Building Details
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Havana
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City Snapshot
Havana
Comprehensive market intelligence for retail expansion in this city