Alto Palermo

Alto Palermo S.A. (APSA) is an Argentine real estate company whose fundamental commercial objectives are the possession, development, administration, acquisition and construction of productive shopping centers. APSA is a subsidiary of Inversiones y Representaciones S.A., a real estate holding company based in Buenos Aires, Argentina.

Performance and developments during 2006

During fiscal 2006, sales for APSA grew by 34% in nominal values and occupancy rates were close to 100%. As a result of the favorable conditions prevailing in the sector, APSA entered into a purchase agreement subject to due diligence to acquire Córdoba Shopping. Located in the Villa Cabrera neighborhood in Córdoba City. Córdoba Shopping has a total surface area of 35,000 square meters with 160 retail stores, 12 movie theaters and parking space for 1,500 vehicles. Additionally, APSA acquired an undeveloped parcel of land to build a shopping center in the Saavedra neighborhood of Buenos Aires and APSA began implementing major improvements in Shopping Mendoza Plaza, which APSA started to manage in 2005.[1]

Notes

  1. ↑ Eduardo S. Elsztain, Letter of the Chairman, IRSA Annual Report 2006

See also

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