GICSA Announces the Successful Opening of Explanada Puebla and Paseo Querétaro

MEXICO CITY, MEXICO / ACCESSWIRE / September 28, 2018 / Grupo GICSA, S.A.B. de C.V. (”GICSA”) (BMV: GICSA), announced today the successful opening of the shopping and entertainment centers Explanada Puebla and Paseo Queretaro, with which were incorporated approximately 158,627 m2 of the gross leasable area to the Company’s portfolio.

These openings added to the previously announced Paseo Interlomas expansion and Isla Mérida, lay the foundations for the new concept Malltertainment developed by the Company and set standards in the evolution of shopping centers, in which approximately one-third of the GLA will be dedicated to entertainment.

Explanada Puebla opened its doors on August 30 with more than 73,108 m2 of GLA under contract with prestigious brands, and Paseo Queretaro was opened on September 20 with more than 56,669 m2 of GLA under contract with brands such as Liverpool, Cinemex, Inditex Group, Axxo Group, H&M, among others.

During 2018, GICSA increased its portfolio’s GLA in more than 280,000 square meters, reaching a total of 829,392 m2 GLA after the agreement announced on July 3, 2018, and expects to close the year with more than 835,000 square meters of GLA, including the next opening of Masaryk 169.

With the 5 deliveries in 2018, we continue with the materialization of our development and expansion strategy in target markets of the Company and our commitment to our shareholders and investors in the continuous search of new spaces that contribute to the maximization of the Company’s value.

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 June 30, 2018, the Company owned 16 income-generating properties, consisting of ten 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) 881,004 square meters, and a Proportional GLA of 529,460 square meters. Since June 2015, GICSA is listed on the Mexican Stock Exchange under the ticker (BMV: GICSA B).

Forward-Looking Statements

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.

Contact:

Diódoro Batalla
Chief Financial Officer
+52 (55) 51 48 04 00
dbatalla@gicsa.com.mx

Rafael Borja
212.406.3693
rborja@i-advize.com

SOURCE: Grupo GICSA, S.A.B. de C.V.

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