Discussions on commercial and consumption areas restructuring in the major cities of Latin America have been dealt with based on both understanding the new urban experience associated with shopping centers and the morphological character of their massive spread. Therefore, in this paper we propose an alternative approach trying to fix the relationship among transformation of commercial areas in Santiago de Chile between 1990 and 2010, as well as real estate restructuring dynamics. Hence, it was found that by means of shapes, functions and structures of several commercial areas-galleries, passages, protomalls and malls, as the consumption activity is key to comprehend the dynamics of metropolization and renewal of the city central areas. That is why a bust to certain buildings like malls are framed in very identified urbanization strategies, which imply both the promotion of certain values and alternative reoccupation by different social groups.