Pei presents its results 2023 and strategies 2024 at the Annual General Meeting for Investors.

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April 2, 2024

Bogotá, March 22, 2024. Pei held the regular investor meeting (2024), where key issues related to the financial and real estate performance of the investment vehicle and the strategies of the managing company were discussed.

During the board meeting, the reports from Pei for 2023 and the strategic plan presented by the Real Estate Administrator, as well as the reports from Pei for 2023 and the financial statements closing report for 2023 presented by the Management Agent, were approved.

Similarly, the commitment to further improve the vehicle’s operational efficiency was reaffirmed, with a focus on increasing revenue, margins, and vacancy management. In this regard, Pei closed 2023 with COP 703,580 million in revenue, a NOI margin of 82.6%, and an EBITDA margin of 70.9%, as well as a near-96% occupancy rate for the real estate portfolio, which is the highest in the past five years.

Within the prioritized strategies for 2024, efforts will be made to expand the fund’s capital sources and further optimize its portfolio through the real estate business cycle, which includes the analysis of property upgrades, conversions, redevelopment, and divestment. These strategies are aimed at increasing the value of the portfolio by leveraging the potential of the assets to maintain their viability.

In the current context, Pei projects a recovery in distributable cash flow, supported by lower interest rates and operational efficiencies within the portfolio’s assets.

With an appreciation of 80% in 2023, Pei was the most valued stock among Colombian Stock Exchange (BVC) variable-income stocks and ranked within the top 15 most traded stocks, representing the most liquid real estate investment alternative in the Colombian market that year.

About Pei (PEI CB Equity)

Pei is a real estate investment alternative valued at over 9.28 trillion pesos and managed by Pei Asset Management, which has more than 6,400 investors. It has consolidated a portfolio of high-specification income-generating assets totaling more than 1.15 million m2 of leasable area, with more than 1,600 tenants, in over 30 cities and municipalities across the country. The portfolio consists of four asset categories: corporate, commercial, logistics, and specialized use properties.

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Pei presents its results 2023 and strategies 2024 at the Annual General Meeting for Investors.

About Pei (PEI CB Equity)

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