Cloud Solutions Bolster Certainty in Stubbornly Analog MarketBy Cinthya Alaniz Salazar | Mon, 01/10/2022 - 15:31
Q: How does SiiLA help bring transparency to the commercial real estate market and how does this benefit consumers and the market?
A: Historically, Latin America’s commercial real estate markets have lacked transparency, where relevant information was reserved singularly for direct relatives or privileged connections. As a company, we have sought to tackle this status quo and level the playing field so any market participant can have access to the same impartial information, data and insight.
In practical terms, SiiLA has contributed to creating a more transparent commercial market in Latin America by providing users with impartial information that has zero conflict of interest, sharing our methodology and relying on technology to disseminate the valuable insights generated by our data.
Q: How does SiiLA's FIBRA analysis differ from its competitors’ forecasts?
A: I am unaware of any market competitors with a similar product to FIBRA analytics. What I can tell you is that SiiLA is in the business of providing impartial information and data; that is our bread and butter. Consequently, the company abstains from submitting market or investment recommendations based on the insights we generate. We leave that to our consulting partners who we view both as clients and allies.
Instead of spending weeks compiling and analyzing all relevant market data, our users are able to easily sift through our platform’s database for the information they need, including the models and graphics necessary to draw up their market recommendations.
Q: What should consumers know about SiiLA Spot before it premieres on the market and how does it provide users with added value?
A: This revolutionary product is set to debut sometime in the middle of 2022. The idea for SiiLA Spot has been percolating since the company began but before the platform could be built, we had to compile all the relevant data, which is where the company dedicated its initial efforts. Now that SiiLA has built up its database and expertise of the markets in which it operates, it can finally diversify its services portfolio, which is aimed at converting its platform users on the commercial side into long-term partners by providing them with technology and added-value digital services.
Our main objective is to become our clients’ digital marketing arm and help guide them through the commercialization of properties by putting at their disposal digital tools, such as drones, virtual walk-throughs and search engine optimization, all of which are meant to increase foot traffic, improve exposure and meet occupancy objectives, to name a few. Just to clarify, we are not creating a marketplace in which just anyone can post a listing. It is SiiLA ’s responsibility to vet listings by cross-checking the submitted information against the information in our database of verified information. Overall, this is a very exciting product that we look forward to scaling as the market becomes more competitive.
Q: Has the company been able to grow its client portfolio despite the market disruptions over the past two years?
A: Fortunately, we have not seen ourselves affected from the COVID-19 pandemic. Not only have we consistently grown our client portfolio annually, we have also repeatedly surpassed our objectives. Our business model has become particularly relevant in an increasingly digital world, leading to our growth and success.
Q: How does SiiLA expect the commercial market in Mexico to close 2021?
A: How the commercial market concludes the year depends on the market’s interest in assets. For example, during the last few months of the pandemic, we have seen a dramatic rise in industrial assets, which gained relevance as e-commerce companies did exceptionally well during the pandemic and looked to expand their warehouse and processing facilities, especially in Mexico’s northern region where most of these e-commerce companies are concentrated. Corporate office spaces on the other hand have been battered over the past two years but, in my opinion, they have endured the worst of the storm. I expect to see this commercial sector grow slowly but steadily into next year; nevertheless, stakeholders should not expect this sector to see a full recovery for another few years.