Artificial Intelligence
Builders Company
Developers/GICSA
G
GICSACuajimalpa de Morelos, Mexico · founded 1989 · 1 active markets
PUBLIC LISTED
www.gicsa.com.mx

GICSA develops, builds, commercializes and operates shopping centers, corporate offices, mixed-use properties, residential projects and hotels in Mexico for investors, tenants, shoppers and residents, using an integrated real-estate platform spanning land acquisition, design, construction, leasing and property operations.

Years in business
37
founded 1989
LinkedIn headcount
501-1,000
employees, as shown on LinkedIn · No date shown on retrieved LinkedIn page · size band 501–1,000
Portfolio value
MXN 64335886 thousand pesos
December 31, 2025
Total projects
77 projects
across the company’s whole history
Projects last researched October 11, 2026
Every figure on this card was read out of a document.

Overview

Investor tear sheet

a summary of the tabs that follow · no rating of our own

Company dossier

Legal name
Grupo GICSA, S.A.B. de C.V.1
Headquarters
Paseo de los Tamarindos No. 902, Cuajimalpa de Morelos2, Mexico
Founded
19891
Entity type
PUBLIC LISTED1
Business model
commercial1, mixed use1, offplan for sale1
Markets
1 market listed
What they build
Retail (5 of 5) · Office (2 of 5) · Mixed use (1 of 5)
Full dossier in About →

Delivery record

4 date-assessed of 5 projects
Unverified by developer

AI-researched delivery record, not yet confirmed by the developer. Dates may be approximate; original sources are linked.

Completed projects from 2016-10-15 through 2026-10-15, with sufficient delivery-date evidence. Date assessment and developer profile verification do not mean an independent audit of every source. Original source links and available snippets are provided. May not represent the developer’s full portfolio. 2 undated and 1 boundary-uncertain completions are excluded. Delivery exceptions are listed separately under Projects.
Completed projects assessed
5
within the rolling ten-year window
Median delay
+6.0 mo
the middle of 4 scored projects
Average delay
+6.0 mo
the same projects, pulled by the worst
Average time to deliver
3.0 yrs
start to completion, over 4 delivered projects
Worst slip
+12.0 mo
Ampliación de Paseo Interlomas · +1.0 to +23.0
2
early or less than 6 months late
6 to 12 months late
2
yellow rows below
Over 12 months late
0
red rows below

Against other developers

4 date-assessed projects here
Not enough info yet.
Projects and timelines in Track Record →

Resident experience

5 of 5 buildings rated · scale 1–10

AI research over published reviews and resident comments. Scores are a model’s reading of opinion, not figures stated on a page, and nothing here feeds any number above it. The links under each block are the pages that research says it used. Based on available resident reviews of covered buildings. These are reported experiences, not independent building inspections, and may not represent all residents or properties.

Overall verdict
8.6/ 10
Weighted judgment across build and operations · from 5 of 5 rated buildings
Little structure evidence (0 of 5 buildings) — this rests mainly on whole-building and living reviews.
Structure & systems
—/ 10
Fabric, services, waterproofing, envelope · from 0 of 5 rated buildings
Management & living
7.9/ 10
Upkeep, response times, amenities, community · from 5 of 5 rated buildings

Against other developers

5 rated here · 10 developers, 32 rated buildings in Mexico
Overall rating
GICSA · 10 other developers in Mexico
8.6 vs 8.1
this developer 0.5 better
The weighted verdict on each side. From 5 of 5 rated buildings here and 32 in the market.
Structure & systems
GICSA · 10 other developers in Mexico
— vs —
Too few buildings with this score here to compare (0 of 5)
Fabric and engineering only — fixed at handover. From 0 of 5 rated buildings here and 8 in the market.
Management & living
GICSA · 10 other developers in Mexico
7.9 vs 7.9
this developer is level
Upkeep and response — belongs to whoever runs the building now. From 5 of 5 rated buildings here and 32 in the market.
The market here is Mexico: every other developer whose head office is in the same country, because the review platforms residents use, and the service norms they judge against, move together within one. It is not a city, a sector or a price band. Read structure and living together. A developer above the market on structure and below it on living builds well and runs buildings badly, which is a fixable problem and a different one from building badly. Higher ratings are better; differences use the displayed scores rounded to one decimal. Rated buildings only, on both sides, and a structure or living score with no stated basis — no review count and no notes or links — is left out of both.
Ratings by building →

Awards & recognition

All awards →

Risks & source coverage

  • FINANCIAL DISTRESS December 19, 2024 (reported; restructuring agreement reached in October 2024) On December 19, 2024, S&P Global Ratings lowered Grupo GICSA’s issuer rating to “SD” (Selective Default), stating that the completed restructuring of the GICSA 16U certificates was equivalent to a default under its methodology because the revised terms were less favorable than the original terms; S&P also said GICSA had an unsustainable medium-term debt structure, while noting that the GICSA 18U prepayment was made in the ordinary course and that the rating opinion did not imply nonpayment of all other obligations.
  • FINANCIAL DISTRESS November 17, 2021 (reported) On November 17, 2021, GICSA reported that it had agreed a 90-day standstill with certificate holders during which certain obligations, including interest payments and reserves for those payments, would be suspended, as part of a process to restructure its liabilities and address its capital structure and liquidity; the company described the outcome and timing as uncertain.
  • FINANCIAL DISTRESS August 12, 2025 (reported; proposal scheduled for a holders’ meeting on August 18, 2025) On August 12, 2025, PCR Verum downgraded Grupo GICSA and the GICSA 15, GICSA 17 and GICSA 19 certificates to C/M and placed them under negative observation, stating that proposed changes to the certificates’ terms could represent a substantial loss of value to holders and an event of default relative to the existing terms; the report also described GICSA’s liquidity as tight and exposed to refinancing of short-term debt.
  • 8 more in Risk & Sources
Record status
active
Company sources
110 source entries across 102 fields
Projects tracked
8 · 5 completed in assessment
All flags and sources →

Track Record

Delivery record

4 date-assessed of 5 projects
Unverified by developer

AI-researched delivery record, not yet confirmed by the developer. Dates may be approximate; original sources are linked.

Completed projects from 2016-10-15 through 2026-10-15, with sufficient delivery-date evidence. Date assessment and developer profile verification do not mean an independent audit of every source. Original source links and available snippets are provided. May not represent the developer’s full portfolio. 2 undated and 1 boundary-uncertain completions are excluded. Delivery exceptions are listed separately under Projects.
Completed projects assessed
5
within the rolling ten-year window
Median delay
+6.0 mo
the middle of 4 scored projects
Average delay
+6.0 mo
the same projects, pulled by the worst
Average time to deliver
3.0 yrs
start to completion, over 4 delivered projects
Worst slip
+12.0 mo
Ampliación de Paseo Interlomas · +1.0 to +23.0
2
early or less than 6 months late
6 to 12 months late
2
yellow rows below
Over 12 months late
0
red rows below

Against other developers

4 date-assessed projects here
Not enough info yet.

Construction start to handover

5 of 5 projects dated · 5 places
Based on covered projects with documented construction or launch dates and available handover dates. Timelines vary by project and may not represent the developer’s full portfolio.
Construction start, or the launchTarget completion (window)Completion or handover, as reportedCurrently statedLaunch year only, no date publishedEarly or ≤6 mo lateOver 6–12 mo lateOver 12 mo lateStalled
Huixquilucan, Mexico
San Pedro Cholula, Mexico
Ciudad de México, Mexico
Querétaro, Mexico
Puerto Vallarta, Mexico
2015201620172018201920202021202220232024202520262027todayHUIXQUILUCAN, MEXICO+12 moverifiedSAN PEDRO CHOLULA, MEXICO+12 moverifiedCIUDAD DE MÉXICO, MEXICOon timeverifiedQUERÉTARO, MEXICOon timeverifiedPUERTO VALLARTA, MEXICOcompleted, no target published
Click a row in the chart to open a project, or a table row below to see its sources. The chart runs wider than the page where the record spans many years — scroll it sideways to follow a project to its handover. Every date we have is drawn. A hollow marker is only a launch year, not a date anyone published. No dates published means we looked and found none; dates not yet checked means we have not looked yet. Handing over is not finished — rows say which. A delay is shown when one source gives the promised date and another gives the real one, however rough: "2019" still counts, and the row shows how wide that is. Projects missing one of the two dates, or with sources that disagree, are left out of the figures. 2 turned out to be about something else — a phase, a neighbour, the wider masterplan — and are marked off-subject.

Building & Livability Ratings

Resident experience

5 of 5 buildings rated · scale 1–10

AI research over published reviews and resident comments. Scores are a model’s reading of opinion, not figures stated on a page, and nothing here feeds any number above it. The links under each block are the pages that research says it used. Based on available resident reviews of covered buildings. These are reported experiences, not independent building inspections, and may not represent all residents or properties.

Overall verdict
8.6/ 10
Weighted judgment across build and operations · from 5 of 5 rated buildings
Little structure evidence (0 of 5 buildings) — this rests mainly on whole-building and living reviews.
Structure & systems
—/ 10
Fabric, services, waterproofing, envelope · from 0 of 5 rated buildings
Management & living
7.9/ 10
Upkeep, response times, amenities, community · from 5 of 5 rated buildings

Against other developers

5 rated here · 10 developers, 32 rated buildings in Mexico
Overall rating
GICSA · 10 other developers in Mexico
8.6 vs 8.1
this developer 0.5 better
The weighted verdict on each side. From 5 of 5 rated buildings here and 32 in the market.
Structure & systems
GICSA · 10 other developers in Mexico
— vs —
Too few buildings with this score here to compare (0 of 5)
Fabric and engineering only — fixed at handover. From 0 of 5 rated buildings here and 8 in the market.
Management & living
GICSA · 10 other developers in Mexico
7.9 vs 7.9
this developer is level
Upkeep and response — belongs to whoever runs the building now. From 5 of 5 rated buildings here and 32 in the market.
The market here is Mexico: every other developer whose head office is in the same country, because the review platforms residents use, and the service norms they judge against, move together within one. It is not a city, a sector or a price band. Read structure and living together. A developer above the market on structure and below it on living builds well and runs buildings badly, which is a fixable problem and a different one from building badly. Higher ratings are better; differences use the displayed scores rounded to one decimal. Rated buildings only, on both sides, and a structure or living score with no stated basis — no review count and no notes or links — is left out of both.

By building

5 rated · 0 not rated · scale 1–10
ProjectOverallStructure & systemsManagement & living
Ampliación de Paseo InterlomasHuixquilucan
8.9/ 10
—/ 10
8.9/ 10

Google Reviews/Maps provides the largest published review base and sets the level at 4.6/5, converted to 8.7/10 under the requested curve. The reviewed material is strongly positive about the mall’s variety, modernity and cleanliness, producing a modest upward commentary adjustment; the 2026 exterior-structure incident is reported separately and does not establish a building-wide structural defect because responsibility remained under investigation.

exa.aihoteles-mx.comyelp.com.mxarquitecturaindustrial.orginfobae.com
+ Steel-supported expansion+ Glass roofs and aluminum façades+ Modern finishes
− Nearby/exterior structure collapse reported in 2026
+ Broad retail variety+ Many restaurants and food choices+ Family-friendly entertainment+ Modern and spacious layout+ Generally clean
− Weekend crowding− Parking can fill at peak times− Some areas less well cared for− Paid parking

The 2018 architectural account describes the newly inaugurated expansion as using steel supports, glass roofs, aluminum and contemporary finishes. Separately, Infobae reported that on August 14, 2026, an advertising structure outside Paseo Interlomas collapsed onto a vehicle and killed a woman; the article says investigators still had to establish responsibility for the structure and its maintenance, while the mall attributed the event to unrelated road works.

arquitecturaindustrial.orginfobae.com

Published reviews describe a lively, modern mall with many stores, restaurants, a cinema, ice rink and children’s activities; one reviewer called it “one of the most modern shopping centers,” while another wrote that it was “Very clean.” The main operational reservations were that it “can get crowded on weekends,” parking sometimes fills quickly, and “there are zones more cared for and of better aspect than others.”

exa.aihoteles-mx.com
Explanada PueblaSan Pedro Cholula
8.9/ 10
—/ 10
7.2/ 10
Teatro Explanada Puebla / Google Reviews/Maps 4.5/5 · 1,604 reviews · exa.ai
Auditorio AREMA Explanada Puebla / Google Reviews/Maps 4/5 · 34 reviews · exa.ai
Combined from 2 published figures on 2 platforms, weighted by review count, adjusted for where resident ratings usually fall and weighted toward the 6.5 midpoint where reviews are few: 7.2.

The largest published review base is Google’s 4.6/5 from 23,929 visitor reviews for the Explanada Puebla shopping mall, which converts to 9.0/10 under the requested curve. A small 0.1 deduction reflects the reported crowding and paid-parking complaints. This is not a residential-building score: as of October 11, 2026, the located evidence concerns a shopping-and-entertainment complex and venues within it, while the residential component was described in older sources as planned or under construction; no current resident review set was located.

exa.aiexa.aiexa.aitripadvisor.cnold.periodicoenfoque.com.mx
− Construction-related cracking reported in neighboring homes
+ Family entertainment+ Varied activities+ Modern design+ Parking generally convenient+ Family- and pet-friendly visits
− Weekend crowding− Paid parking− Some stores close early

No resident or guest review evidence was found about Explanada Puebla’s own structural fabric, plumbing, HVAC or electrical systems. A March 2018 report, published during construction, said residents of the neighboring Geo Villas El Campanario development alleged that vibrations from the works had caused fissures in 40 homes; this is an old construction-period allegation, not evidence of a current defect in Explanada Puebla itself.

old.periodicoenfoque.com.mx

Published visitor reviews describe Explanada Puebla as “the best mall for a day out with family and sometimes even pets,” with ice skating, virtual reality, climbing, restaurants and other activities. The main operational criticisms were that parking is paid and can become crowded on weekends, while one reviewer said stores closed too early despite customers still being present; these are visitor experiences at a shopping-and-entertainment complex, not resident-management reviews.

exa.aiparking.net
La Isla Puerto VallartaPuerto Vallarta
8.8/ 10
—/ 10
8.8/ 10

Google’s 4.6/5 aggregate from 13,269 reviews sets the level and converts to 8.8/10 on the specified curve. Tripadvisor disagrees at 3.7/5, but its 135-review base is far smaller, so the score remains at the anchor; the available published material supports a living-quality score but does not publish evidence sufficient for a structure score.

wanderlog.comlaislapuertovallarta.com.mxmx.fashionnetwork.comtreceveinte.net
+ Clean and spacious environment+ Outdoor tropical design+ Good food options+ Broad retail variety+ Underground parking
− Prices may resemble U.S. prices− Heat can be uncomfortable outdoors

no notes returned

no links returned

The published visitor summary describes La Isla as a “well-designed outdoor mall” and says visitors appreciate its “cleanliness” and spacious walking areas. It also highlights good food options and variety, while advising visitors to avoid the strongest sun and noting that souvenir prices are similar to those in the United States.

wanderlog.comlaislapuertovallarta.com.mx
Paseo QuerétaroQuerétaro
8.7/ 10
—/ 10
8.2/ 10
Apple Maps (Foursquare/Tripadvisor aggregate) 90/100 · 39 reviews · maps.apple.com
Apple Maps (Foursquare/Tripadvisor aggregate) 98/100 · 42 reviews · maps.apple.com
Combined from 2 published figures on 1 platform, weighted by review count, adjusted for where resident ratings usually fall and weighted toward the 6.5 midpoint where reviews are few: 8.2.

La calificación agregada de Google Maps, reportada como 4.6/5 con 16,208 valoraciones, establece el nivel y se convierte en 8.7/10 siguiendo la curva indicada. No se aplicó ajuste porque no se identificaron temas recurrentes de queja o elogio en las reseñas leídas; la evidencia corresponde principalmente a un centro comercial, no a una experiencia residencial anual.

greenticket.com.mxmaps.apple.compaseoqueretaro.mxgicsa.com.mxeluniversal.com.mx
+ Ambiente agradable+ Variedad de tiendas+ Servicio rápido+ Entretenimiento familiar+ Estacionamiento amplio

no notes returned

no links returned

La reseña publicada describe un “ambiente relajado”, iluminación natural y una organización que facilita el recorrido; también afirma que el servicio en Chili’s fue “rápido”. La página oficial confirma cine, go-karts, videojuegos, restaurantes y estacionamiento, pero las fuentes revisadas no aportan quejas operativas de residentes ni evidencia sobre la gestión de un inmueble habitacional.

greenticket.com.mxpaseoqueretaro.mxmaps.apple.com
Masaryk 169Polanco, Ciudad de México
7.9/ 10
—/ 10
6.5/ 10

La única valoración localizada para el inmueble es 4.8/5 con cinco reseñas, pero no alcanza el mínimo de diez reseñas para fijar el ancla. Por la regla aplicable a edificios sin una base de diez reseñas, el resultado se mantiene dentro de un punto de 6.5; no se aplican ajustes porque no hay temas recurrentes ni fallas serias documentadas.

exa.airevistadearquitectura.com
+ Espacios para bicicletas+ Fácil acceso

no notes returned

no links returned

La ficha de Masaryk 169 Corporativo lo identifica como un inmueble de oficinas abierto y muestra una valoración de 4.8/5 basada en cinco reseñas. La reseña textual disponible dice: “Cuenta con lugares para bicicletas! Fácil de llegar”; esto aporta evidencia positiva sobre acceso y una amenidad, pero no sobre mantenimiento, seguridad o gestión residencial.

exa.ai
Only buildings that have reached handover are rated. 0 of 5 projects carry no rating: a building still under construction is never asked about, one that has just been handed over may not have been reached yet, and the rest were asked about and no published resident commentary was found. Structure is fixed at handover and stays the developer's; management and living belongs to whoever runs the building now. The overall verdict weights both rather than averaging them. None of this is checked: a rating is what people published about a building, aggregated — it is not evidence, it cannot move a delay figure, and it is not part of the delivery record above.

About

Company dossier

Legal name
Grupo GICSA, S.A.B. de C.V.
Headquarters
Paseo de los Tamarindos No. 90, Cuajimalpa de Morelos, Mexico
Bosques de las Lomas · 05120
Founded
1989
Mexico City, Mexico
Entity type
PUBLIC LISTED
Revenue
MXN 5101939 thousand pesos
2025
Business model
commercial, mixed use, offplan for sale

Partners

1 partner
El Puerto de Liverpool, S.A.B. de C.V. (Liverpool)
joint venture

GICSA states that it made an agreement with Liverpool for construction of five anchor stores in its shopping centers.

Sources: name

COMPANYdate not shown in source

Historia

Gicsa
un acuerdo con Liverpool para la construcción de cinco tiendas ancla en nuestros centros comerciales.
value seen: El Puerto de Liverpool, S.A.B. de C.V. (Liverpool)
held out of the figures · the quote does not carry this value
https://www.gicsa.com.mx/home/historia

Sources: partner type

COMPANYdate not shown in source

Historia

Gicsa
un acuerdo con Liverpool para la construcción de cinco tiendas ancla
value seen: JV_PARTNER
value paraphrased from this source
https://www.gicsa.com.mx/home/historia

Sources: summary

COMPANYdate not shown in source

Historia

Gicsa
un acuerdo con Liverpool para la construcción de cinco tiendas ancla en nuestros centros comerciales.
value seen: GICSA states that it made an agreement with Liverpool for construction of five anchor stores in its shopping centers.
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.gicsa.com.mx/home/historia

Registrations & licences

TAX IDCCO980625GH9
Mexican Taxpayer Register · Mexico · LAPSED
Jurisdiction-agnostic: a DLD number, a Companies House number and a state RERA registration all land in the same table.

Contact

Markets

1 countries
Mexicoactive 5 projects tracked

What they build

3 types
Retail5 of 5
Office2 of 5
Mixed use1 of 5
A project counts once under each type it carries, so the shares add to more than the project count.

Management

Principals & executives

6 names found
EC
Elías Cababie Daniel
Elías Cababie Daniel is a GICSA co-founder and executive president who has led the organization as Chairman of the Board since its foundation. He began in a family textile-manufacturing business at 17 and is also active in business, cultural and educational organizations.
Current title
Co-Founder & Executive President; Chairman of the Board
Experience
no career length stated
Companies before
none sourced
Education
not published
Other boards
Endeavor MexicoFundación de Apoyo y Fomento a la Biblioteca VasconcelosCENTRO board
Known for
FounderChairmanTextile manufacturing background
https://linkedin.com/in/el%C3%ADas-cababie-54642126
because now people want to live experiences Obras Expansión October 23, 2018https://obras.expansion.mx/inmobiliario/2018/10/23/gicsa-inaugura-explanada-puebla

Sources: full name

COMPANYdate not shown in source

Managing Board

GICSA
Elías Cababie Daniel Co-Founder & Presidente Ejecutivo | GICSA
value seen: Elías Cababie Daniel
https://www.gicsa.com.mx/en/home/managing-board

Sources: other boards

COMPANYdate not shown in source

Managing Board

GICSA
He is a board member of Endeavor Mexico, an organization committed to fostering the growth and development of small and medium-sized enterprises.
value seen: Endeavor Mexico
https://www.gicsa.com.mx/en/home/managing-board

Sources: other boards

COMPANYdate not shown in source

Managing Board

GICSA
He also serves on the Board of Trustees of the Fundación de Apoyo y Fomento a la Biblioteca Vasconcelos.
value seen: Fundación de Apoyo y Fomento a la Biblioteca Vasconcelos
https://www.gicsa.com.mx/en/home/managing-board

Sources: other boards

COMPANYdate not shown in source

Managing Board

GICSA
Elías Cababie contributes significantly as a member of the board of CENTRO.
value seen: CENTRO board
held out of the figures · the quote does not carry this value
https://www.gicsa.com.mx/en/home/managing-board

Sources: quote

PRESS2018-10-23
obras.expansion.mx
"because now people want to live experiences”.
value seen: because now people want to live experiences
https://obras.expansion.mx/inmobiliario/2018/10/23/gicsa-inaugura-explanada-puebla

Sources: summary

COMPANYdate not shown in source

Managing Board

GICSA
Since the foundation of GICSA, Elías Cababie has led the organization as Chairman of the Board. At 17, he began his career in the textile manufacturing sector within a family company.
value seen: Elías Cababie Daniel is a GICSA co-founder and executive president who has led the organization as Chairman of the Board since its foundation. He began in a family textile-manufacturing business at 17 and is also active in business, cultural and educational organizations.
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board

Sources: tags

COMPANYdate not shown in source

Managing Board

GICSA
Since the foundation of GICSA, Elías Cababie has led the organization as Chairman of the Board.
value seen: Founder
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board

Sources: tags

COMPANYdate not shown in source

Managing Board

GICSA
Since the foundation of GICSA, Elías Cababie has led the organization as Chairman of the Board.
value seen: Chairman
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board

Sources: tags

COMPANYdate not shown in source

Managing Board

GICSA
At 17, he began his career in the textile manufacturing sector within a family company.
value seen: Textile manufacturing background
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board

Sources: title

COMPANYdate not shown in source

Managing Board

GICSA
Elías Cababie Daniel Co-Founder & Presidente Ejecutivo | GICSA ... Since the foundation of GICSA, Elías Cababie has led the organization as Chairman of the Board.
value seen: Co-Founder & Executive President; Chairman of the Board
held out of the figures · the quote does not carry this value
https://www.gicsa.com.mx/en/home/managing-board
AC
Abraham Cababie Daniel
Abraham Cababie Daniel is GICSA’s co-founder and CEO, responsible for guiding the developer’s strategy and growth. He moved from the textile industry into real-estate development in 1989 with his brothers Elías and Jacobo, and has served on GICSA’s board since incorporation.
Current title
Co-Founder & CEO; Vice-President of the Board
Experience
no career length stated
Companies before
none sourced
Education
not published
Other boards
none sourced
Known for
FounderCEOReal-estate development since 1989
https://www.linkedin.com/in/abrahamcd
It is important to add the term sustainable to all real-estate spaces that are built, since there is a great responsibility toward the environment and the user. Milenio July 10, 2018https://www.milenio.com/estilo/importante-balance-arquitectura-medio-ambiente-abraham-cababie

Sources: full name

COMPANY2023-07-13

Managing Board

GICSA
Abraham Cababie Daniel Co-Founder & CEO | GICSA
value seen: Abraham Cababie Daniel
https://www.gicsa.com.mx/en/home/managing-board

Sources: quote

PRESS2018-07-10
milenio.com
“Es importante añadir el término sustentable a todos los espacios inmobiliarios que se construyan, pues se tiene una gran responsabilidad con el medio ambiente y el usuario”, comentó Cababie.
value seen: It is important to add the term sustainable to all real-estate spaces that are built, since there is a great responsibility toward the environment and the user.
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.milenio.com/estilo/importante-balance-arquitectura-medio-ambiente-abraham-cababie

Sources: summary

COMPANY2023-07-13
GICSA
In 1989, after evaluating various opportunities, he ventured into real estate development. Alongside his brothers Elías and Jacobo, Abraham defined the vision and strategy that laid the foundation for what we know today as GICSA.
value seen: Abraham Cababie Daniel is GICSA’s co-founder and CEO, responsible for guiding the developer’s strategy and growth. He moved from the textile industry into real-estate development in 1989 with his brothers Elías and Jacobo, and has served on GICSA’s board since incorporation.
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board/abraham-cababie-daniel

Sources: tags

COMPANY2023-07-13
GICSA
Abraham Cababie Daniel Co-Founder & CEO | GICSA
value seen: Founder
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board/abraham-cababie-daniel

Sources: tags

COMPANY2023-07-13
GICSA
Abraham Cababie Daniel Co-Founder & CEO | GICSA
value seen: CEO
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board/abraham-cababie-daniel

Sources: tags

COMPANY2023-07-13
GICSA
In 1989... he ventured into real estate development.
value seen: Real-estate development since 1989
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board/abraham-cababie-daniel

Sources: title

COMPANY2023-07-13
GICSA
Since then, he has held the position of CEO...
value seen: Co-Founder & CEO; Vice-President of the Board
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board/abraham-cababie-daniel
IC
Isaac Cababie Kibrit
Isaac Cababie Kibrit is identified by GICSA as its Deputy CEO/Co-CEO and a strategist in proptech, venture funding, real-estate advisory and investment consulting. The company describes him as a co-founder of several ventures; his professional profile records engineering and MBA study.
Current title
Co-CEO (Deputy CEO)
Experience
no career length stated
Companies before
none sourced
Education
Universidad Iberoamericana
NYU Stern School of BusinessMBA
Other boards
none sourced
Known for
Co-CEOProptechVenture fundingMBA
https://linkedin.com/in/isaac-cababie-kibrit

Sources: institution

COMPANYdate not shown in source

Managing Board

GICSA
A graduate of the Universidad Iberoamericana in Mexico City.
value seen: Universidad Iberoamericana
https://www.gicsa.com.mx/en/home/managing-board

Sources: degree

SOCIAL2026-10-07
linkedin.com
Master of Business Administration - MBA at NYU Stern School of Business
value seen: MBA
https://linkedin.com/in/isaac-cababie-kibrit

Sources: institution

SOCIAL2026-10-07
linkedin.com
Master of Business Administration - MBA at NYU Stern School of Business
value seen: NYU Stern School of Business
https://linkedin.com/in/isaac-cababie-kibrit

Sources: full name

COMPANYdate not shown in source

Managing Board

GICSA
Isaac Cababie Kibrit Co-CEO | GICSA
value seen: Isaac Cababie Kibrit
https://www.gicsa.com.mx/en/home/managing-board

Sources: summary

COMPANYdate not shown in source

Managing Board

GICSA
In his role as Deputy CEO of GICSA, Isaac plays a crucial part in formulating and executing strategies that shape the company’s direction.
value seen: Isaac Cababie Kibrit is identified by GICSA as its Deputy CEO/Co-CEO and a strategist in proptech, venture funding, real-estate advisory and investment consulting. The company describes him as a co-founder of several ventures; his professional profile records engineering and MBA study.
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board

Sources: tags

COMPANYdate not shown in source

Managing Board

GICSA
His expertise in key areas such as property technology (proptech), venture funding, real estate advisory, and investment consulting.
value seen: Co-CEO
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board

Sources: tags

COMPANYdate not shown in source

Managing Board

GICSA
His expertise in key areas such as property technology (proptech), venture funding, real estate advisory, and investment consulting.
value seen: Proptech
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board

Sources: tags

COMPANYdate not shown in source

Managing Board

GICSA
His expertise in key areas such as property technology (proptech), venture funding, real estate advisory, and investment consulting.
value seen: Venture funding
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board

Sources: tags

COMPANYdate not shown in source

Managing Board

GICSA
His expertise in key areas such as property technology (proptech), venture funding, real estate advisory, and investment consulting.
value seen: MBA
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board

Sources: title

COMPANYdate not shown in source

Managing Board

GICSA
Isaac Cababie Kibrit Co-CEO | GICSA ... currently serving as Deputy CEO at GICSA
value seen: Co-CEO (Deputy CEO)
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.gicsa.com.mx/en/home/managing-board
DB
Diódoro Batalla Palacios
Diódoro Batalla Palacios is GICSA’s finance and administration executive, listed by the exchange as Director of Administration and Finance and by MarketScreener as CFO. MarketScreener dates his CFO position from 2014 and records an undergraduate degree from UNAM.
Current title
Director of Administration & Finance (CFO)
since since 2014
Experience
no career length stated
Companies before
none sourced
Education
Universidad Nacional Autónoma de México
Other boards
none sourced
Known for
CFOFinance and administration

Sources: institution

OTHERdate not shown in source
marketscreener.com
He completed his undergraduate degree from Universidad Nacional Autónoma de México.
value seen: Universidad Nacional Autónoma de México
https://www.marketscreener.com/insider/DIODORO-BATALLA-PALACIOS-A1UUJP/

Sources: full name

REGULATORdate not shown in source
bmv.com.mx
ACT. DIODORO BATALLA PALACIOS
value seen: Diódoro Batalla Palacios
held out of the figures · the quote does not carry this value
https://www.bmv.com.mx/en/issuers/profile/GICSA-6529

Sources: since

OTHERdate not shown in source
marketscreener.com
Grupo GICSA SA de CV | Director of Finance/CFO | 2013-12-31
value seen: since 2014
held out of the figures · the quote does not carry this value
https://www.marketscreener.com/insider/DIODORO-BATALLA-PALACIOS-A1UUJP/

Sources: summary

OTHERdate not shown in source
marketscreener.com
Diodoro Batalla Palacios is currently the Chief Financial Officer at Grupo GICSA SA de CV since 2014. He completed his undergraduate degree from Universidad Nacional Autónoma de México.
value seen: Diódoro Batalla Palacios is GICSA’s finance and administration executive, listed by the exchange as Director of Administration and Finance and by MarketScreener as CFO. MarketScreener dates his CFO position from 2014 and records an undergraduate degree from UNAM.
value paraphrased from this source
https://www.marketscreener.com/insider/DIODORO-BATALLA-PALACIOS-A1UUJP/

Sources: tags

REGULATORdate not shown in source
bmv.com.mx
Director of Administration & Finance
value seen: CFO
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.bmv.com.mx/en/issuers/profile/GICSA-6529

Sources: tags

REGULATORdate not shown in source
bmv.com.mx
Director of Administration & Finance
value seen: Finance and administration
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.bmv.com.mx/en/issuers/profile/GICSA-6529

Sources: title

OTHERdate not shown in source
marketscreener.com
Director of Administration & Finance and Chief Financial Officer at Grupo GICSA SA de CV since 2014.
value seen: Director of Administration & Finance (CFO)
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.marketscreener.com/insider/DIODORO-BATALLA-PALACIOS-A1UUJP/
RH
Rafael Harari Tussie
Rafael Harari Tussie is documented in the retrieved company-profile data as GICSA’s Chief Development Officer, placing him in the development leadership tier. The available evidence does not establish his appointment date, education or prior employers.
Current title
Chief Development Officer
Experience
no career length stated
Companies before
none sourced
Education
not published
Other boards
none sourced
Known for
Chief Development Officer

Sources: full name

OTHERdate not shown in source
finance.yahoo.com
Mr. Rafael Harari Tussie | Chief Development Officer
value seen: Rafael Harari Tussie
https://finance.yahoo.com/quote/GICSAB.MX/profile/

Sources: summary

OTHERdate not shown in source
finance.yahoo.com
Mr. Rafael Harari Tussie | Chief Development Officer
value seen: Rafael Harari Tussie is documented in the retrieved company-profile data as GICSA’s Chief Development Officer, placing him in the development leadership tier. The available evidence does not establish his appointment date, education or prior employers.
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://finance.yahoo.com/quote/GICSAB.MX/profile/

Sources: tags

OTHERdate not shown in source
finance.yahoo.com
Mr. Rafael Harari Tussie | Chief Development Officer
value seen: Chief Development Officer
https://finance.yahoo.com/quote/GICSAB.MX/profile/

Sources: title

OTHERdate not shown in source
finance.yahoo.com
Mr. Rafael Harari Tussie | Chief Development Officer
value seen: Chief Development Officer
https://finance.yahoo.com/quote/GICSAB.MX/profile/
MS
Marcos Shamosh Levy
Marcos Shamosh Levy is documented as GICSA’s executive responsible for new business and legal matters. Independent trade reporting also identified him as the company’s Director of New Business in a 2020 interview about digitising its shopping-centre offer with Rappi.
Current title
Executive Director of New Business & Legal
Experience
no career length stated
Companies before
none sourced
Education
not published
Other boards
none sourced
Known for
New businessLegal
This is a possibility to give our commercial partners a new sales channel to reach new customers and increase sales with current customers. Centro Urbano May 14, 2020https://centrourbano.com/revista/entrevistas/gicsa-digitalizacion-centros-comerciales/

Sources: full name

OTHERdate not shown in source
finance.yahoo.com
Mr. Marcos Shamosh Levy | Executive Director of New Business & Legal
value seen: Marcos Shamosh Levy
https://finance.yahoo.com/quote/GICSAB.MX/profile/

Sources: quote

PRESS2020-05-14
centrourbano.com
“Esto lo estamos haciendo para todos los centros comerciales de Gicsa del país; y esto lo vemos como la posibilidad de dar a nuestros socios comerciales un nuevo canal de venta para poder acceder a nuevos clientes y poder incrementar sus ventas con clientes actuales”, explicó Shamosh.
value seen: This is a possibility to give our commercial partners a new sales channel to reach new customers and increase sales with current customers.
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://centrourbano.com/revista/entrevistas/gicsa-digitalizacion-centros-comerciales/

Sources: summary

PRESS2020-05-14
centrourbano.com
En entrevista con Centro Urbano, Marcos Shamosh Levy, director de Nuevos Negocios de Gicsa, explicó que los usuarios ... podrán acceder a cada uno de los centros comerciales
value seen: Marcos Shamosh Levy is documented as GICSA’s executive responsible for new business and legal matters. Independent trade reporting also identified him as the company’s Director of New Business in a 2020 interview about digitising its shopping-centre offer with Rappi.
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://centrourbano.com/revista/entrevistas/gicsa-digitalizacion-centros-comerciales/

Sources: tags

PRESS2020-05-14
centrourbano.com
Marcos Shamosh Levy, director de Nuevos Negocios de Gicsa
value seen: New business
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://centrourbano.com/revista/entrevistas/gicsa-digitalizacion-centros-comerciales/

Sources: tags

PRESS2020-05-14
centrourbano.com
Marcos Shamosh Levy, director de Nuevos Negocios de Gicsa
value seen: Legal
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://centrourbano.com/revista/entrevistas/gicsa-digitalizacion-centros-comerciales/

Sources: title

OTHERdate not shown in source
finance.yahoo.com
Mr. Marcos Shamosh Levy | Executive Director of New Business & Legal
value seen: Executive Director of New Business & Legal
https://finance.yahoo.com/quote/GICSAB.MX/profile/

Projects

Assessment coverage

Completed projects: 2016-10-15 through 2026-10-15. Initial research is capped at 10 completed projects and a separate delivery-risk search capped at 7 findings. Risk findings are not project assessment counts. Absence is not proof of a complete portfolio or no failures. Month-level dates overlapping a boundary are excluded from figures.

2 undated completions and 1 boundary-uncertain completions are retained but excluded from figures.

Stalled, cancelled & overdue projects

0 evidenced cases
The capped delivery-risk search ran; no project-level exception cases are recorded here. Risk findings are listed under Risks and are separate from assessed projects. This does not establish that the developer has no delivery failures.

Completed projects

5 projects
ProjectLocationTypeUnitsFloorsAreaCostPayment planLaunchedConstruction startOriginal targetHandoverDelayConfidenceStatus
Ampliación de Paseo InterlomasHuixquilucan, Mexico
retail, office, mixed use—————2015primer semestre de 2015Jan 2017 – Dec 2017Jan 2018 – Dec 2018+12.0 mo
(+1.0 to +23.0)		sourcedcompleted
Explanada PueblaSan Pedro Cholula, Mexico
retail———MXN 1.95bn
other		—2016second half of 2016Jan 2017 – Dec 2017Jan 2018 – Dec 2018+12.0 mo
(+1.0 to +23.0)		sourcedcompleted
Masaryk 169Ciudad de México, Mexico
Polanco		office, retail—————2016segundo semestre de 2016Jan 2018 – Dec 2018Jan 2018 – Dec 20180.0 mo
(−11.0 to +11.0)		sourcedcompleted
Paseo QuerétaroQuerétaro, Mexico
retail———MXN 2.2bn
other		—2016durante el primer trimestre del 2016Jan 2018 – Dec 2018Jan 2018 – Dec 20180.0 mo
(−11.0 to +11.0)		sourcedcompleted
La Isla Puerto VallartaPuerto Vallarta, Mexico
retail———MXN 1.11bn
other		—2015mayo de 2015—Jan 2017 – Dec 2017—not scorablecompleted
Click any row for the sources behind it. Cost basis matters: an estimated cost, a construction loan and a sale price are different numbers. Each row states which one it is, so they are never averaged together.

Awards

Awards & recognition

7 found
RANKING Ranked 2025-10-01 (reported); distinction received September 1, 2025
Empresa Top Mujeres 2025
GICSA reports that it was distinguished as Empresa Top Mujeres 2025 for initiatives supporting gender equity and women’s professional development.
RANKING Ranked 2023-05-22
Súper Empresas 2023
GICSA reports that it was recognized as one of the Súper Empresas 2023 by Expansión and Top Companies for employee well-being and workplace practices.
RANKING Ranked 2023-09-01 (publication; ranking based on 2022 data)
Las constructoras más importantes de México 2023
Grupo GICSA was ranked 26th in Expansión’s 2023 ranking, under the Edificación specialty, based on 2022 net revenue.
SUSTAINABILITY Certified March 2018
LEED Silver certification · Edificio A, Centrum Park
GICSA’s Edificio A at Corporativo Tlalnepantla received LEED Core & Shell certification in March 2018, achieving 58 points and the Silver level.
SUSTAINABILITY Certified May 2018
LEED Gold certification · Edificio E, Centrum Park
GICSA’s Edificio E at Corporativo Tlalnepantla received LEED Core & Shell certification in May 2018, achieving 60 points and the Gold level.
COMPANY AWARD Winner 2007 (reported February 15, 2008)
Developer of the Year — Real Estate 2007
Real Estate Market & Lifestyle identified GICSA as Developer of the Year in recognition of its 18-year business trajectory and development work; this is older evidence retained as a defining company distinction.
PROJECT AWARD Winner 2001 (reported February 15, 2008)
ICSC award · La Isla Shopping Village, Cancún
A contemporaneous account reports that GICSA’s La Isla Shopping Village was awarded by the International Council of Shopping Centers in 2001 for its design, development, operation and visitor and tenant acceptance; the award name is not specified in the retrieved source.

Risks

Auditor & credit ratings

1 agency
AuditorKPMG Cárdenas Dosal, S.C.
S&P Global RatingsmxCCC+ negative outlook · 20 August 2025

Risk flags

11 found
FINANCIAL DISTRESS December 19, 2024 (reported; restructuring agreement reached in October 2024)
On December 19, 2024, S&P Global Ratings lowered Grupo GICSA’s issuer rating to “SD” (Selective Default), stating that the completed restructuring of the GICSA 16U certificates was equivalent to a default under its methodology because the revised terms were less favorable than the original terms; S&P also said GICSA had an unsustainable medium-term debt structure, while noting that the GICSA 18U prepayment was made in the ordinary course and that the rating opinion did not imply nonpayment of all other obligations.
FINANCIAL DISTRESS November 17, 2021 (reported)
On November 17, 2021, GICSA reported that it had agreed a 90-day standstill with certificate holders during which certain obligations, including interest payments and reserves for those payments, would be suspended, as part of a process to restructure its liabilities and address its capital structure and liquidity; the company described the outcome and timing as uncertain.
FINANCIAL DISTRESS August 12, 2025 (reported; proposal scheduled for a holders’ meeting on August 18, 2025)
On August 12, 2025, PCR Verum downgraded Grupo GICSA and the GICSA 15, GICSA 17 and GICSA 19 certificates to C/M and placed them under negative observation, stating that proposed changes to the certificates’ terms could represent a substantial loss of value to holders and an event of default relative to the existing terms; the report also described GICSA’s liquidity as tight and exposed to refinancing of short-term debt.
PROJECT CANCELLED November 24, 2017 (reported)
In November 2017, reporting stated that GICSA’s planned La Explanada León development would not be built and that the land was being offered for sale, after the project had previously appeared in GICSA’s project portfolio; people involved reportedly said the earlier work stoppage was temporary, but the project was ultimately described as cancelled.
PROJECT CANCELLED 24 November 2017 (publication date; cancellation reported at that time)
La Explanada León: Periódico AM reported on 24 November 2017 that GICSA’s planned development was cancelled and would not be built; the report said the site was being offered for sale, while noting that earlier GICSA contacts had described the stoppage as temporary.
PROJECT CANCELLED 31 August 2016 (publication/event reporting date; later status not established by the retrieved evidence)
Las Plazas Outlet Norte and La Isla Playa del Carmen: GICSA said in August 2016 that it was cancelling these two planned projects from its active development portfolio and deferring them for future review, so the originally expected 2017 completion could not occur.
REGULATORY 12 October 2024 (publication date; government action reported as occurring on 2 and 20 August 2024)
Palmas 915, Mexico City: the capital government reported in October 2024 that the project associated with Grupo GICSA had no construction permits after the polygon-of-action, urban-impact study and land-use certificate were revoked or suspended; the retrieved evidence describes the project as suspended and under review, not definitively cancelled.
DELIVERY DELAY 4 August 2017 (publication date; revised commitment: first half of 2018)
Explanada Puebla: GICSA moved the planned opening from September 2017 to the first half of 2018, attributing the delay primarily to changed timing for construction permits and licences; the retrieved evidence does not establish the eventual completion date.
DELIVERY DELAY 4 August 2017 commitment revision; 1 February 2019 continued delay report
Explanada Pachuca: GICSA moved the planned opening from the first half of 2018 to the second half of 2018, citing permit and licence timing; a February 2019 local report still said completion would take another three to six months, with no later completion evidence in the retrieved material.
DELIVERY DELAY 4 August 2017 (publication date; revised commitment: second half of 2018)
Paseo Querétaro: GICSA reported that its opening had been extended by six months to the second half of 2018; the retrieved evidence documents the changed commitment but does not establish whether or when the project subsequently opened.
DELIVERY DELAY 28 July 2021 (publication/event-status date; more than two years after the 2019 confirmation)
Explanada San Luis: local reporting stated in July 2021 that, more than two years after confirmation of the project, construction remained stalled because access and permitting issues had not been resolved; the report said GICSA still intended to proceed, so this is documented as stalled rather than abandoned.

Record status

active
Coverageactive
Tracked sinceOctober 11, 2026
Last checkedOctober 11, 2026 this month
Profile last researchedOctober 11, 2026
Claim
Work for this company? Claiming lets you correct the record with sources and get alerts when it changes.
For informational purposes only. This information is not investment, financial or credit advice and should not be relied on for investment, lending or credit decisions. Records may be incomplete or outdated. Verify information independently and seek qualified advice before making a decision.