Construction Begins on New Warehouse

Construction permits have recently been obtained from the City Council, allowing us to begin work on the new facility located opposite the Central Fish Market. The project consists of a warehouse built across two adjacent plots, which were awarded to us in December 2024 and May 2025, respectively. Construction is expected to be completed by September 2027.

This development will help maximize the use of a 3,900 m² plot, compared to the 1,350 m² currently available in each of Warehouses 2 and 3, while also enabling more efficient use of shared infrastructure. In addition, by leveraging synergies, construction costs will be reduced.

As part of this initiative, the Company aims to increase its frozen and fresh storage capacity. The Frozen division will be relocated to the new facility, integrating current operations with external cold storage providers, with a dual objective: to improve profitability and enhance service to our customers. This relocation will also ensure storage availability during peak demand periods, when existing warehouses are at full capacity. Furthermore, the new facility will include a fresh storage chamber to support the Fresh division whenever additional capacity is required.

Meanwhile, the Fresh division will remain in the current warehouses, enabling it to maximize available workspace and storage capacity, thereby improving operational efficiency and profitability.

This acquisition reflects the Company’s strong performance in recent years, as well as its confidence in continuing to expand both the Frozen and Fresh divisions and improve profitability in each. The investment aligns with a key objective set out in our Strategic Plan, allowing us to grow both divisions and explore new business opportunities and product lines.