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News Article

Mexico City’s Mayor Looking to Boost Development

By Lorenzo Núñez | Wed, 06/30/2021 - 16:52

Mexico City’s Mayor, Claudia Sheinbaum met with members of the private sector belonging to the Real Estate Developers Association (ADI), the Corazon Capital Association, the National Chamber of Commerce (CANACO) and the Mexican Business Council (Consejo Mexicano de Negocios) to discuss real estate development issues in Mexico´s capital.

Sheinbaum said there are fundamental issues in the construction sector that need to be addressed in order to reactivate social housing, particularly due to the economic situation the country is experiencing. In regards to the real estate sector, the head of government commented that the conversion of underutilized or unoccupied office buildings to housing and mixed uses was addressed.

"In some cases, it requires a change of land use and in other cases it does not; there are many powers that I have as head of government and the idea is precisely to use them at this moment of economic reactivation, so that all these procedures can be reduced, and this process can begin," the mayor replied when asked if Congress would have to weigh in on the matter of land use.

"We are working on it and in less than a month, the decree will be ready, and all these activities can start development developed," Sheinbaum noted. The mayor also mentioned that some construction companies have said that the price of land in these areas prevents them from generating a business model that would detonate housing, so they will work with the Institute for Democratic Planning and Foresight to hash out details. 

The creation of a campaign to promote tourism in the city, which will hopefully activate tourism and services, and some other tourism-related topics was also touched upon during the meeting. “The most important thing today is this meeting especially with Mexico City´s large, small and medium-sized businessmen interested in reactivating employment and want to establish a  general coordination with the office of the mayor. Today´s objective is the to reactivate employment in Mexico City. We are going to meet again in a month's time to take very concrete actions that will allow us to move forward and follow through in the economic reactivation of the city", she concluded.

The data used in this article was sourced from:  
MBN
Photo by:   MichaelGaida
Lorenzo Núñez Lorenzo Núñez Junior Journalist & Industry Analyst