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Mexican developer GICSA signs deal for 14 real estate projects

Grupo GICSA SAB de CV said March 15 that it it secured a deal with "an important group of its investors at project level" in relation to 14 property developments.

The Mexican developer said the agreements related to the jointly owned properties will remain, and that it renewed its long-term management and operations deals for the portfolio.

It will take full ownership of seven of the 11 developments that it and its partners are restructuring, with the remaining four regeneration projects to be transferred in full to the investors.

As at 2017-end, GICSA's portfolio comprised nine shopping malls, four mixed-use projects and two office buildings, amounting to a total gross leasable area of 709,095 square meters.