IRSA Inversiones y Representaciones S.A. (Argentina)

IRSA Inversiones y Representaciones S.A., incorporated on June 23, 1943, is headquartered in Buenos Aires, Argentina, and stands as the country’s largest and most diversified real estate company, listed on both BYMA and the New York Stock Exchange (NYSE). The company operates through five core segments: Shopping Malls, Offices, Hotels, Sales and Developments, and Others, managing iconic assets such as Alto Palermo, Abasto Shopping, Patio Bullrich, and luxury hotels under brands like Intercontinental, Libertador, and Llao Llao, alongside residential developments and land reserves for future projects. IRSA is controlled by Cresud S.A.C.I.F. y A., which holds approximately 55.64% of shares, while institutional investors such as Helikon Investments and VR Advisory Services also maintain stakes; key leadership includes Eduardo Elsztain as Chairman and CEO. For the fiscal year ended June 30, 2025, IRSA reported revenues of ARS 468,526 million (up 2.3% year-on-year) and a strong turnaround with net income of ARS 196,118 million compared to a prior-year loss, while Rental Adjusted EBITDA reached ARS 234,697 million, driven mainly by shopping malls and offices; occupancy in malls remained near 98%, and the company returned to international capital markets with a USD 300 million bond issuance. Strategic priorities for 2025 include expanding its shopping center portfolio through acquisitions like Terrazas de Mayo, developing Ramblas del Plata, and reinforcing premium office occupancy, while maintaining leadership in Argentina’s real estate sector through operational efficiency and selective growth initiatives. Since its origins in the 1940s and its transformation in the 1990s under Eduardo Elsztain with support from George Soros, IRSA has evolved from a local real estate firm into a benchmark for commercial property development and management in Latin America, shaping Argentina’s urban landscape for over eight decades.