Buenos
Aires, Argentina - November 26, 2024 – IRSA Inversiones y
Representaciones Sociedad Anónima (NYSE:IRS; ByMA:IRSA),
Argentina's leading Real Estate company, informs the market about
the information that will be shared in the Investor Day to be held
today in New York City to celebrate IRSA's 30 years listing
anniversary on the New York Stock Exchange ("NYSE").
In this
regard, the Company announces that it is in the process of
acquiring a new shopping mall in Greater Buenos Aires for an amount
of USD 27.75 million, which is expected to be completed in the
coming days.
Additionally,
the Company reports the progress in the commercialization process
of the first stage of the "Ramblas del Plata" project, which
consists of 14 lots with 126,000 sqm, representing 18% of the total
saleable area of the project. To date, the Company has received
purchase or land swap offers from local developers for all the
lots. If the transactions are completed, 3 lots will be paid in
cash for a total of approximately USD 40 million, and the rest will
be through barter agreements, receiving functional units in their
projects for approximately 16,500 sqm once the works are
completed.
In the
coming months, the Company will begin infrastructure work on the
"Ramblas del Plata" plot while the aforementioned agreements are
being signed.
These
events reaffirm IRSA's strategy to continue expanding its portfolio
through acquisitions and new commercial and residential
developments in Argentina, with huge growth potential.