CANADEVI, INFONAVIT to Build 400,000 Homes in Mexico City

The National Chamber of the Housing Development and Promotion Industry (CANADEVI) Valley of Mexico, one of the regions most affected by housing shortages, urban disorder, and overpopulation, says it will build over 400,000 homes this year in collaboration with INFONAVIT, according to El Financiero. The initiative forms part of the Well-Being Housing Program, which aims to deliver 1.7 million homes during the current administration for workers earning up to two minimum wages.

Leopoldo Hirschhorn, President, CANADEVI Valley of Mexico, says that private sector participation is crucial to achieving these goals. He urges authorities to speed up permit approvals and provide legal certainty for investments.

“The President set a goal of 1 million homes this year, and developers, many from CANADEVI, are working with INFONAVIT. We already have 400,000 homes registered with INFONAVIT that are set to be developed,” says Hirschhorn.

The industry also aims to contribute through specific solutions for Mexico City, particularly under the Bando I and Norma 26, regulations that promote affordable housing by offering incentives to developers. Hirschhorn highlights the need for faster licensing processes and certainty for investors, while also pointing to opportunities in redeveloping underused buildings, densifying key neighborhoods, and forging strong public-private partnerships.

According to Hirschhorn, housing construction through public programs and private investment could generate an economic impact of MX$110 billion (US$5.89 billion) in the metropolitan area, reactivating thousands of jobs.

“If we build 20,000 homes, we would generate MX$40 billion (US$2.14 billion) for the economy. Adding other projects could push the total to MX$110 billion, plus MX$9 billion from the government, making it a historic investment,” he says.

This effort could benefit over 50,000 families, provide housing access to 200,000 people, and create more than 250,000 jobs.

The housing sector in Mexico City has faced a slowdown since 2019 due to restrictions on permits, but developers remain optimistic that mixed investment will reverse this trend. María José Fernández, Director General, Association of Real Estate Developers(ADI), urges stronger private participation in the Bando I initiative, stressing the need to modernize and streamline permit processes to tackle informal housing.

Meanwhile, César Cravioto, Minister of Government of Mexico City, announced via social media that he met with Hirschhorn and Manuel González, Director General of CANADEVI Valle de México, to discuss housing, investment, and employment opportunities.

“In the Government of Mexico City, we maintain a close relationship with the different economic sectors to always work together for the benefit of citizens,” Cravioto writes on X.