Monday, June 17, 2024

Monterrey and Mexico City lead the country in industrial real estate demand

Demand for industrial real estate is on the rise across the country, with the highest demand seen in Monterrey and Mexico City, according to data from the real estate agency Solili.

From January to November, gross industrial demand across Mexico was 6.6 million square meters, a figure 13% higher than that registered in the same period in 2021, real estate agency Solili reported. At the forefront are Monterrey and Mexico City, with the former registering demand for more than 1.6 million square meters and Mexico City reporting demand for 1.4 million square meters. That means Monterrey accounts for a quarter of the national demand while Mexico City represents 22% of the total.

According to Solili’s report, just in November Mexico City registered the construction of 150,000 square meters of new industrial space, while 132,000 square meters of space were built in Monterrey.

The Bajío area, which includes the states of Guanajuato, Querétaro, San Luis Potosí and Aguascalientes, has also reported an increase in industrial demand. From January to November, the region reported a gross demand of more than 1.3 million square meters, a figure 50% higher than that registered in the same period of 2021.

Triggers of the growth include factors associated with business expansions and specific large projects related to industrial-scale data centers, furniture manufacturing and the automotive sector.

Other northern markets such as Saltillo, Ciudad Juárez, Reynosa and Tijuana account for another quarter of the demand registered from January to November.

These numbers across the country reflect a 13% increase in demand for industrial space over the same period of 2021.

“2022 has been a crucial year for the Mexican industrial market, which has managed to strengthen itself amid the increase in world inflation and the restructure of supply chains,” Solili said.

Finally, in the firm’s latest report on foreign direct investment published in November, Mexico attracted US $3.1 billion of funds, a figure that already exceeds the amount registered in all of 2021.

With reports from El Economista and Solili

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