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Gicsa's 3Q24 Results: Stability and Growth in Retail Real Estate

Alpha InspirationWednesday, Oct 23, 2024 8:46 pm ET

1min read

Gicsa, a leading Mexican real estate company, has announced its consolidated results for the third quarter of 2024. The company's main operating indicators remained stable, with a focus on its Collect, Operate, Renew, and Rent (CORR) strategy.

Gicsa's same-property visitor traffic increased by 2% compared to the second quarter of 2024, while tenant sales grew by 3% during the same period. The occupancy rate of the company's operating portfolio remained at 86%, and rents per square meter stood at 374 pesos. These figures demonstrate Gicsa's ability to maintain a strong presence in the retail real estate market.

In terms of commercialization, Gicsa signed 63 new lease contracts in the third quarter, equivalent to 21,786 square meters. Additionally, 55 new lease spaces began operations, corresponding to 14,952 square meters. These figures indicate Gicsa's continued success in attracting new tenants and expanding its retail offerings.

Gicsa's financial results for the third quarter of 2024 showed moderate growth. Consolidated and proportional net operating income (NOI) continued to grow by 6% compared to the second quarter of 2024, with results of Ps. 894 million and Ps. 741 million, respectively. Consolidated and proportional earnings before interest, taxes, depreciation, and amortization (EBITDA) for the third quarter of 2024 was Ps. 829 million and Ps. 676 million, with increases of 5% compared to the second quarter of 2024.

Gicsa's development projects, such as Grand Outlet Riviera Maya and Paseo Metepec, continue to progress. The Grand Outlet Riviera Maya shopping mall had its soft opening in late 2023, and Paseo Metepec is currently 89% complete. These projects contribute to Gicsa's growth and expansion in the retail real estate market.

In conclusion, Gicsa's third-quarter 2024 results demonstrate the company's ability to maintain stability and achieve growth in the retail real estate sector. Through its CORR strategy, Gicsa continues to improve its occupancy levels and commercial offer, attracting new tenants and expanding its retail offerings. The company's financial results and development projects indicate a positive outlook for Gicsa's future in the Mexican real estate market.

Comments

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05/02

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05/02

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05/02

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05/02

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05/02

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05/02

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05/02

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05/02

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05/02

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05/02

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05/02

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05/02

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05/02

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05/02

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05/02

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05/02

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05/15

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05/15

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05/15

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05/15

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05/15

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05/15

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05/15

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05/15

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04/23

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04/23

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04/22

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04/23

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04/23

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04/23

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04/23

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04/23

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04/23

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04/23

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04/23

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04/23

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3 hour ago

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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04/27

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schokonickchen

04/27

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04/27

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05/15

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05/16

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TheOSU87

04/30

Infineon collab could shake up power testing game.

pit_the_prepper

04/30

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Medical-Truth-3248

04/30

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UpbeatBase7935

04/30

$TER's EPS growth is solid. Strong fundamentals. But watch out for trade policy hiccups.

Luka77GOATic

04/30

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ConstructionOk6948

04/30

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OG_Time_To_Kill

04/30

Trade policy whack-a-mole, but AI demand strong.

AIDsIsTheName

04/30

@OG_Time_To_Kill Do you think AI will save TER?

TraditionalAgent8593

04/30

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LarryKingsGhost

04/30

$TER undervalued, bulls waiting for dip entry.

BeeBaBoop

04/30

Robotics + semis = winning combo, who's in?

Stevitop

04/30

CEO Smith sees AI, electrification, and verticalization as long-term drivers. Bullish on $TER's positioning.

Yoconn

04/30

@Stevitop What do you think about their guidance?

magenta_placenta

04/30

Holding TER long-term, strong fundamentals, weak hands panic.

Pushover112233

04/30

TERadyne's EPS pump is 🚀 solid growth

NoMycologist2500

04/30

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caollero

04/30

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04/30

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EL-Vinci93

05/05

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bananaboi4

05/05

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GrapeJuicex

05/05

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Brilliant_User_7673

05/05

Lam's lifestyle was flash but short-lived. Arrogance and greed got him caught. Watch your FOMO, y'all.

911Sheesh

05/05

Crypto's like a sharp knife—cuts both ways. Use it for good or evil. The choice is yours, just like $TSLA or $AAPL.

Blackhole1123

05/05

The Com crew went from Minecraft to million-dollar mistakes. Don't underestimate the power of a little due diligence.

Running4eva

05/05

Who else remembers when crypto was all about freedom from banks? Now it's like the wild west, minus the honor.

LufaMaster

05/05

Crypto world got its dark side, y'all. Anonymity can be a curse. 🚨Beware of the wolves in sheep's clothing.🚨

Hungry-Bee-8340

05/05

Parental advisory: Keep an eye on your kids' online moves. Crypto scammers prey on the innocent, literally.

Plane-Salamander2580

05/05

These youngbloods thought crypto riches meant no risks. Turns out, real life got nothing on real-world consequences.

bottlethecat

05/05

@Plane-Salamander2580 Guess they didn't YOLO hard enough to see the real-world dip.

aiolyfe

05/05

Crypto world got real dirty, folks. Watch out!

Empty_Somewhere_2135

05/05

Veer's parents got caught in the crossfire. Talk about your worst nightmares playing out in the suburbs.

Sweet-Block5118

05/05

These kids had no idea how fast the fall could be. 🤦♂️

stydolph

05/05

Who would've thought crypto's dark side could lead to real-life kidnappings? This wild ride shows how cybercrime knows no borders.

Gurkaz_

05/05

ZachXBT and his team are real-life crypto heroes. They prove that good can triumph over evil, even in the dark web.

Accomplished-Bill-45

05/05

I'm in crypto for gains, not kidnappings. Smart moves only.

FluidMarzipan1444

04/23

Wow!The BTC stock triggered a trading signal, resulting in substantial gains for me.

Advanced-Ad-9186

05/16

OMG!the Peak Seeker algorithm successfully identified both trough and apex inflection points in DEFT equity's price action, while my execution latency resulted in material opportunity cost.

Surfin_Birb_09

05/16

@Advanced-Ad-9186 I had DEFT, sold early. Regretting now. Missed that Nasdaq boost. FOMO is real.

enthralled123

05/16

@Advanced-Ad-9186 How long you holding DEFT? Curious if you're in for the long haul or just swing trading.

CaseEnvironmental824

05/14

Damn!!the block option data in XLO stock saved me much money!

Emeraldmug

05/14

@CaseEnvironmental824 How long you holding XLO? Any predictions on where it's headed?

James___G

04/30

CouchBASE's cash-heavy balance sheet could attract suitors. But will Irenic's pressure lead to a sale or just smoke and mirrors?

Liteboyy

04/30

Holding $CBASE long-term, but watching Irenic's moves closely. If restructuring happens, could see nice upside. 🤔

dopollak

04/30

@Liteboyy How long you been holding $CBASE? Curious if you've seen any major moves so far.

LackToesToddlerAnts

04/30

Activists often push for sales when valuations don't match fundamentals. Could $CBASE be headed for a merger or SPAC deal?

LackToesToddlerAnts

04/30

Irenic's play: value unlock or chaos? CouchBASE's cash-heavy balance sheet could be a golden ticket or a ticking time bomb.

OkFirefighter1110

04/30

@LackToesToddlerAnts Irenic's move could be value creation, but there's risk of shareholder friction.

joaopedrosp

04/30

SEC revoking Irenic's registration might raise flags, but it shouldn't block their activism in the software sector.

hellogreenbean

04/30

@joaopedrosp True, SEC stuff separate issue.

aiolyfe

04/30

Irenic's play here is classic: squeeze value from a lagging company. But regulatory clouds could trip them up.

BunchProfessional680

04/30

If $CBASE gets scooped, MongoDB or AWS could be the suitors. But valuations might get ugly. 🤑

extrememinimalist

04/30

@BunchProfessional680 Do you think MDG could afford CBASE?

Dvorak_Pharmacology

04/30

MongoDB or AWS could be interested, but valuations might be sticky. Who's ready for a bidding war? 🤑

psycho_psymantics

04/30

CouchBASE's tech is solid, but leadership needs to prove it translates to profit. Activist pressure could shake things up.

Ok-Afternoon-2113

04/30

Irenic's move could shake things up big time.

Sotarif

04/30

🤑 Potential sale could mean juicy returns for holders

JoinMySpaceship

04/30

40% dip in 2 yrs? Ouch. But, undervalued gems can be goldmines if activists dig deep enough. 🌟

Mean_Dip_7001

04/30

Holding $CBASE long-term? Might ride the activist wave, but watching those quarterly earnings like a hawk.

Tiger_bomb_241

04/30

18.5% stake is serious clout, watch what's next.

bottomline77

04/30

@Tiger_bomb_241 What's next for CBASE?

drgreenthumb12372

04/30

@Tiger_bomb_241 Totally, Irenic's got the power.

Janq55

04/30

Activist pressure might force CouchBASE to rethink strategy.

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