The Company reports that it has signed two sale agreements with a local developer for the first phase of the ‘Ramblas del Plata’ project, located in Puerto Madero Sur, as previously announced to the market on November 26, 2024.
The first phase consists of 14 plots totaling 126,000 m², representing 18% of the total sellable area of the project. The transaction involves two plots that together cover a total area of 10,525 m², with an estimated total sellable area of 40,000 m².
The price for both transactions was approximately USD 23.4 million (in cash), with 30% paid upon signing the agreement, and the remaining balance of approximately USD 16.4 million will be paid upon signing the deeds and delivery of possession.
The Company will begin infrastructure work at the ‘Ramblas del Plata’ site while progressing with the process of signing the agreements related to the marketing of the first phase.
We are very pleased with the progress in the marketing of the project. We appreciate the trust of leading real estate developers in our Company and, in particular, in the Masterplan of Ramblas del Plata,” concludes Jorge Cruces, CIO of IRSA.
