The Company reports that it has entered into exchange agreements with different developers for five plots of the first stage of the ‘Ramblas del Plata’ project.
The first stage consists of 14 plots with 126,000 m², representing 18% of the total sellable area of the project. The exchanged plots together cover an area of 9,942 m² and an estimated total sellable area of 31,102 m².
The amount of the transactions totals USD 24.1 million, which will be paid to IRSA through an upfront cash payment and sellable m² to be received in the future.
The Company will continue with infrastructure work at the ‘Ramblas del Plata’ site while progressing with the process of signing the agreements related to the commercialization of the first stage.
