We are one of the largest owners, developers and operators of shopping malls, offices and other commercial properties in Argentina in terms of gross leaseable area and number of rental properties. Our common shares are listed on Bolsas y Mercados Argentinos S.A., or ByMA, under the ticker “IRCP”, and our ADSs are listed on Nasdaq under the ticker “IRCP”.
We own 15 shopping malls of which we manage 14, with an aggregate 333,062 square meters of Gross Leaseable Area as of the closing of fiscal year 2020. Moreover, the Company owns 115,640 square meters in 8 premium office buildings and has a large reserve of land for future commercial developments. We are operators and owners of majority stakes in 13 of our shopping malls in Argentina, seven of which are located in the City of Buenos Aires (Abasto, Alcorta Shopping, Alto Palermo, Patio Bullrich, Dot Baires Shopping and Distrito Arcos), two in the Greater Buenos Aires area (Alto Avellaneda and Soleil), and the rest in various provinces (Alto Noa in the City of Salta, Alto Rosario in the City of Rosario, Mendoza Plaza in the City of Mendoza, Córdoba Shopping Villa Cabrera in the City of Córdoba, and Alto Comahue in the City of Neuquén). In addition, IRSA Propiedades Comerciales operates La Ribera Shopping in the City of Santa Fe through a joint venture and owns the historic real estate that hosts the Patio Olmos shopping mall in the Province of Córdoba, which is operated by a third party.
IRSA CP was organized in 1889 under the name “Sociedad Anónima Mercado de Abasto Proveedor (SAMAP)”, and, until 1984, we led the main fresh produce market in the City of Buenos Aires. Our most important asset during that period was the historic Mercado de Abasto building which served as the location of the market from 1889 to 1984, when we largely ceased its operations.
Since the date the Company was acquired by IRSA Inversiones y Representaciones Sociedad Anónima (“IRSA”), in 1994, we have grown through a series of acquisitions and development projects that ended in a corporate reorganization from which our current corporate name and organization structure derive. In December 2014, we acquired from our parent IRSA a portfolio consisting of 5 office buildings and became the leading commercial real estate company in Argentina. As a result, we changed our corporate name to IRSA Propiedades Comerciales S.A. As of June 30, 2020, our main shareholder is IRSA with 80.65% of our capital stock.