Demand for industrial space that has been detonated in the center of the country, especially in the area of the Valley of Mexico, has caused the construction of these buildings to be dynamic and, therefore, the highest percentage is concentrated in this area compared to the beginning of industrial real estate construction of the entire national territory.
According to the “Panorama of the industry market in Mexico 2Q-2022”, prepared by Datoz, at the end of the first semester, by submarket, Mexico City led the start of construction, with 24% of the total works that started this year, placing it above locations such as Tijuana and Monterey.
Pablo Quezada, partner and director of New Products at Datoz, explained that although, among a sample of 21 markets, in five cases (Matamoros, Hidalgo, Puebla, Hermosillo and Mérida) there were no new construction starts, only in the case of Mexico City, this region contributed 397,000 square meters in early construction.
However, according to information from the consultant, By region, the northwest and northeast of the country are the most active areas in the beginning of construction.
For example, in the case of Monterrey, a 60% drop was reported compared to the level of works started in the first half of 2021, but with everything and that drop, it managed to add more than 185,000 square meters in the first half of the year, he explained. Quezada.
| City | Market share of construction starts |
| Mexico City | 24% |
| Juarez City | 14% |
| Tijuana | 13% |
| Monterey | eleven% |
| Queretaro | 7% |
| Source: Dataz |
Strong demand in the center
In the first half of the year, the nine riders that make up the industrial zone Valley of Mexico, with an inventory of about 13 million square meters, registered 100% of industrial occupationaccording to information from Newmark.
Vianey Macías, an analyst at the Newmark Market Research division, pointed out that with the demand figures for the first half of the year, some metropolitan points have zero availability.
“The occupancy levels of the corridors give guidelines not only to increase the construction and accelerated planning of 13 industrial parksbut also encourages the expansion of existing corridors”, Macías pointed out.
“Because the industry is the main source of real estate growth in the current situation, the positive impact of investment vehicles, as well as infrastructure projects in operation in the country, are notably favored.”
In this scenario, the specialist considered that the results of the third quarter of the year will show the incorporation of new square meters of space into the market, but with new works still in progress.
Demand and prices on the rise
Sergio Mireles, general director of Datoz, explained that in the first half of the year the rent of industrial space diversified from last year.
He recalled that only in 2021, the northeastern and northwestern part of the country concentrated the gross absorption of industrial ships; however, in the first half of this year, demand has been balanced across the country.
“This is good news, because what you want to avoid is the concentration in certain areas of the country and this is reflected in the efforts of the federal government to promote the areas of the southeast,” Mireles said.
pointed because the rise in rental prices will be a continuous element in the national industrial marketboth due to the demand for space, as well as due to the increase in interest rates, but also due to the increase in the prices of materials and land.
In what corresponds to the Valley of Mexico, the starting prices are located as the second highest nationally, only below Tijuana, although the values of closing contracts, the region has lower prices compared to other corridors such as Reynosa and Guadalajara.
