It is the family government that is governed by the Family Protocol approved in 2015 and the Regulations of the Family Council.

It is formally organized to manage the family's relationship with the company, generating an open forum for communication and information where it is guaranteed that the business family establishes a systematic dialogue about their reality, generating relationships of trust and consensus.

It is the sovereign body of the Company where the shareholders make the most relevant decisions on those matters that the law and the corporate statutes determine.

The Board of Directors is the main governing body in matters of Corporate Responsibility, regulatory compliance and risk management; the key to the proper functioning of good corporate governance.

At TM Real Estate Group, this is the body that represents and manages the Group, establishes strategy and management plans, approves corporate policies and supervises the Steering Committee in the fulfilment of its objectives.

Their duties are set forth in the Board of Directors' Regulations dated 17th June 2015.

It is responsible for managing the Group's activity, both in Spain and Mexico. Likewise, it is in charge of implementing the Strategic Plan approved by the Board of Directors, aligning the strategy and actions between the different areas of the company.