The first stage was the construction of the mall, which was opened on November 9, , with retail stores, 40 stands with the best and most diverse offerings in the market and 14 fast food stores, restaurants and cafes, totaling 19, square meters of gross leasable area and a Translate the description back to Spanish Spain Translate. As tax revenues dropped as a result of the recession, the public sector relied increasingly on financing from local and, to a lesser extent, foreign banks, effectively limiting the ability of private sector companies to obtain bank financing. Due to a four-year-old recession ended in the second quarter of , the Argentine economy has deteriorated sharply. Other expense income, net decreased from Ps. These results reflect the amortization of goodwill from the acquisition of Shopping Alto Palermo S. Dollar equivalent of the Peso price of our common shares on the Bolsa de Comercio de Buenos Aires , and as a result are likely to affect the market price of our ADS in the United States.
On January 6, , the Congress enacted the Public Emergency Law which repeals several provisions of the Convertibility Law which prevailed in Argentina for 10 years, and the executive branch announced the devaluation of the Peso the establishment of a dual exchange rate system in which certain limited transactions will occur at a fixed rate of Ps. Our reserve land constitutes an added value as a unique portfolio for shopping centers development in CBD Central Business Districts. Revenues from leases and services by Geographical Area. Net income loss in credit card trust. This tax compliments income tax. The first part of the project involves three stages. History and Development of the Company. If the Argentine government and its creditors fail to reach a debt agreement restructuring, the fiscal situation of Argentina could be severely affected, undermining the ability of the Argentine government to implement adequate economic policies and structural reforms.
Tenant mix of Abasto Shopping Center. In addition, the Consumer Protection Act defines the suppliers of goods and services as the individuals or legal entities, either public or private that in a professional way, even occasionally, produce, import, distribute or commercialize goods or supply services to consumers or users.
The shopping center is contained mostly on one floor, with the cinema located on the second floor, and has a 2,car free parking lot consisting of 47, square meters.
Administrative expenses from others segmentcalculated as a percentage of others segment revenues, increased from 2.
Total selling expenses includes intersegment eliminations of Ps. This shopping center is close to Torres de Abasto, our residential apartment complex, and a Coto supermarket. Envianos tus comentarios a soporte hoyts.
For the fiscal year ended June 30,
Dollar plus CER, and the issuance by the government of U. On September 17,Decree No. Duringthe gross domestic product decreased We believe that all of our facilities are adequate for our present need and suitable for their intended purposes.
Liquidity and Capital Resources. Alto Noa is a store shopping center that opened in Due to a four-year-old recession ended in the second quarter ofthe Argentine economy has deteriorated sharply. Each rental unit is connected to these systems.
Sales and development properties included in Others segment. The unemployment rate increased from This decrease was mainly attributed to i lower results from exchange differences and derivatives of Ps.
Operating loss from others segment measured in terms of sales from others segment increased from Market data used throughout this annual report were derived from reports prepared by unaffiliated third-party sources. Our success depends, to a significant extent, on the continued employment of Eduardo S. The following table sets forth the tenant mix of the types of businesses in Alto Palermo Shopping Center: The unemployment rate was Note 16 to our consolidated financial statements provides a description of the principal differences between Argentine GAAP and U.
Selling expenses from leases and services decreased The common area expenses include, among others, administration, security, operations, maintenance, cleaning and taxes. Any further depreciation of the Peso against the U. The first stage of this project, amounting to approximately Ps.
This recovery, at first based almost exclusively on import substitution, broadened as the level of consumption and investment increased. Lomas Center Shopping 5.
Alto Palermo Shopping Center is spread out over four levels and has a car pay parking lot in an area consisting of 32, square meters. Protection for the Disabled Law. These direct expenses generally include: Generally, terms in our lease agreements go from 3 to 10 years.
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This requirement does not apply to certain transfers. Unit sales subject to the pre-strata title regime must be registered with the Real Estate Registry.
Table of Contents Tenant mix of Patio Bullrich. Development and Land Use.
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Moreover, we cannot predict whether the Argentine government will further modify its monetary policy and, if so, what impact these changes could have on our financial condition and results of operations.
Diluted net income per ADS.
The shopping center is divided into two floors and has a car pay parking lot. The following tables set forth certain information regarding our percentages of revenues by business segment and by geographical area for the periods indicated: The cost of credit card operations increased by Following his election in OctoberPresident.
Each tenant leases its rental unit as a shell without preciso fixtures.
However, with the repeal of the Convertibility Law on February 4,all U.