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THE GICSA STORY

The roots of Mexico City-based Gicsa lie in a lingerie fabric manufacturer. The three Cababie sons — Elías, Jacobo and Abraham — inherited the firm from their father and decided that, instead of selling the fabric to an apparel company, they would be the ones marketing and distributing apparel through a chain of stores. Eventually, the family sold its more than 100 clothing stores to concentrate on what was becoming a more profitable venture — the construction industry. They have since built more than 1 million square meters of offices, high-end residences, industrial space — and about 20 shopping centers.

The youngest of the brothers, Elías, has been busy in south Florida during the past four years with their CABI Developers unit, developing several projects; the portfolio includes the mixed-use residential and retail Everglades On The Bay tower, in Miami.

Gicsa’s portfolio of 10 shopping centers in Mexico include La Isla and Forum By the Sea in Cancún; Punta Langosta in Cozumel; Las Plazas Outlet in Monterrey; Zentro Masarik and Pavillion Centro in Mexico City, and Las Plazas Outlet in Guadalajara. There are 11 more in development in Mexico City; Quintana Roo, Monterrey, Culiacán, Guadalajara, Nayarit, and Veracruz, said a company executive who asked not to be identified.

— MBP