Company: CRESW
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001654954-25-012195
Chunk: 188

Company: CRESUD INC
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4
Chunk 188
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 third party) in the City of Córdoba, La Ribera Shopping in Santa Fe (through a joint venture) and Alto Comahue in the City of Neuquén.

As of June 30, 2025, IRSA portfolio’s leasable area totaled 371,242 sqm of GLA (excluding certain spaces occupied by hypermarkets, which are not our tenants). Real tenants’ sales of our shopping centers reached ARS 3,062,900 million in the fiscal year 2025, 2.8% lower than 2024, and ARS 3,151,757 million in the fiscal year 2024. The tenants’ sales of our shopping centers are relevant to our income and profitability because they are one of the factors that determine the amount of rent that we can collect from them. They also affect the overall occupancy costs of tenants as a percentage of their sales.

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As a subsequent event, on September 17, 2025, we informed that IRSA acquired “Al Oeste” shopping mall through the signing of the deed and the transfer of operations. This property is located at the intersection of Luis Güemes and Presidente Perón Avenues, in the town of Haedo, Morón district, west of Greater Buenos Aires. The shopping mall is currently underutilized in terms of occupancy and commercial activity, and within the framework of the IRSA’s development plan to create opportunities in different districts of the Province of Buenos Aires, and it is planned to be converted into an outlet center to be relaunched during next year. “Al Oeste Shopping” has approximately 20,000 GLA sqm, including 40 stores, 6 food court units, 5 padel courts, 14 cinema theaters, and 1,075 parking spaces. In addition, it has an expansion potential of 12,000 GLA sqm.

With this acquisition, as of the date of this Annual Report, IRSA’s shopping mall portfolio includes 17 assets, 16 of which are operated by IRSA, totaling approximately 390,000 GLA sqm. See “Item 4. Information on the Company — A. History and Development of the Company — Recent Developments—IRSA’s Recent Developments— Acquisition of “Al Oeste Shopping.”

The following table shows certain information about IRSA’s shopping malls as of June 30, 2025:

      Shopping malls         Date of acquisition/development            Location             GLA (1)