 In 1979, José Said founded Parque Arauco S.A. (PASA), a real estate development firm that was incorporated in 1981.The following year, he and his associates, who included Tomás Fürst Freiwirth and the Martínez Perales brothers, opened the Parque Arauco Shopping Center in the Las Condes municipality of Santiago, which contained retail stores Gala-Sears and Muricy (later owned by Falabella and Almacenes París, respectively).Since the mall adjoins at Kennedy Avenue (Avenida Kennedy), it is often referred to as Parque Arauco Kennedy to distinguish it from the corporation.