MEXICO CITY--(BUSINESS WIRE)--Grupo GICSA, S.A.B. de C.V. (“GICSA”) (BMV:GICSA), announced that on April 26, 2018, the Company successfully carried out the opening of La Isla Merida Cabo Norte shopping & entertainment center, adding approximately 58,902 m2 of Gross Leasable Area (“GLA”) to the Company’s portfolio.
The opening of this shopping center took place with more than 38,933 m2 of GLA under contract, with prestigious brands such as Liverpool, Cinépolis, H&M, sub-anchor stores, boutiques and restaurants.
Additionally, on March 22, 2018, the Company carried out the opening of Paseo Interlomas expansion adding 62,863 m2 of GLA.
Jointly these openings represent an increase of 121,276 m2 of GLA in the company's portfolio, reaching a total of 831,063 m2 of GLA.
With these openings Grupo GICSA consolidated its groundwork to materialize its growth strategy and development of quality and avant-garde properties.
About the Company
GICSA is a leading company in the development, investment, commercialization and operation of shopping malls, corporate offices and industrial warehouses well known for their high quality standards, which transform and create new development spaces, lifestyles and employment in Mexico, in accordance to its history and executed projects. As of March 31, 2018, the Company owned 15 income-generating properties and 2 in stabilization process, consisting of nine shopping malls, four mixed use projects (which include four shopping malls, four corporate offices and one hotel), and two corporate office buildings, representing a total Gross Leasable Area (GLA) 772,161 square meters, and a Proportional GLA of 470,114 square meters. Since June 2015, GICSA is listed on the Mexican Stock Exchange under the ticker (BMV: GICSA B).
This press release may contain forward-looking statements, and involve risk and uncertainty. The words “estimates”, “anticipates”, “projects”, “plans”, “believes”, “expects”, “seeks” and similar expressions, are intended to identify forward-looking statements. Grupo GICSA warns readers that declarations and/or estimates mentioned in this document, or stated by Grupo GICSA’s management team, are subject to a number of risks and uncertainties that could be in function of various factors that are out of Grupo GICSA’s control. Future expectations reflect Grupo GICSA’s judgement at the date of this document. Grupo GICSA reserves the right or obligation to update information contained in the report or derived from it. Past or present performance is not an indicator of future performance.
Grupo GICSA warns that a significant number of factors may cause actual results to differ materially from estimates, objectives, expectations, and intentions expressed in this report. Neither the Company or any of its subsidiaries, affiliates, directors, executives, agents or employees may be held responsible before third parties (including shareholders) for any investment, decision, or action taken in relation to the information included in this document, or by any special damage or similar that may result.