First Rock Completes Third KFC Project, a “Big Deal”

• FirstRock Real Estate Investments, “FirstRock” through its wholly owned subsidiary First Rock LATAM S.A., announced the successful completion of its third development project with KFC Costa Rica. The project, which started in April 2025, features a modern restaurant (handed over in June 2025) and an advanced distribution centre (handed over in August).
• Strategically located in Coyol, the main industrial hub of Costa Rica, this development, particularly the distribution centre, holds significant value for KFC as it will enhance and streamline its logistical operations across the region.
• Management noted that the project’s completion reinforces FirstRock’s growing regional footprint and dedication to creating long-term value through innovative and sustainable real estate investments across Latin America and the Caribbean.
• After the market closed on October 9, 2025, FIRSTROCK shares traded at $10.89 per share, up 8.5% year to date. At this price, the stock carries a 0.72x P/B multiple, which is above the 0.57x Real Estate Sector Average.

(Source: JSE)