Year-End Summary for Popular RE

I am pleased to report that Popular RE has achieved a disciplined and steady performance, with a total realised profit of USD16.3 million. This result is the outcome of careful and deliberate capital deployment, rigorous oversight of our assets, and consistent execution across the platform’s core real estate strategies. It reflects the collective effort, dedication, and professionalism of our team throughout a year that has presented both opportunities and challenges in the property market.

Throughout the year, our internal focus remained on optimising the portfolio, stabilising cash flows, and selectively realising value where appropriate. We have placed a strong emphasis on operational efficiency at the asset level, maintaining conservative financing structures, and implementing targeted management initiatives. These initiatives were designed to enhance occupancy, improve income visibility, and protect against downside risks in a market environment influenced by changing interest rates and evolving economic conditions.

The performance of 2025 also reflects the robustness of Popular RE’s internal investment process, our disciplined approach to governance, and the hands-on management style that we continue to uphold. Decision-making was conducted with care and precision, ensuring that every hold or exit decision was made with clear focus on capital preservation, risk-adjusted returns, and execution certainty. In all aspects, our guiding principles were prudence, diligence, and a long-term perspective.

As we complete the year’s transactions, Popular RE enters 2026 with a streamlined portfolio, strengthened operating metrics, and improved internal visibility across our assets. Moving forward, we remain committed to building upon this solid foundation. Our focus will continue to be on disciplined growth, ongoing asset optimisation, and selective recycling of capital, always aligned with our long-term objectives of sustainable performance and value creation for all stakeholders.

In summary, 2025 has been a year of careful management and measured progress. I am confident that, with the strengthened processes, experienced team, and clear strategic focus that we have in place, Popular RE is well-positioned to pursue continued growth and deliver sustainable results in the years ahead.