Mexico's Housing Woes, Queretaro's Tech Boom: The Weekly Roundup

In this week's roundup, construction of new houses in Mexico has plummeted compared to 2019, despite a slight rebound from 2023 figures. Meanwhile, Queretaro is emerging as a tech innovation center, attracting investments from global giants like Amazon, DHL, and Samsung.

In other news, UNAM and the Mexican Chamber of the Construction Industry are intensifying efforts to promote sustainability in construction, focusing on the circular economy. Furthermore, América Móvil is poised to take a controlling stake in the joint venture ClaroVTR.

Ready to dive in? Your weekly dose of Infrastructure is here!

Construction of New Houses Dropped 26.8% Against 2019

The construction of new houses in Mexico has seen a significant decline in the first five months of 2024, dropping by 26.8% compared to the same period in 2019, according to the Housing Registry (RUV). Despite a slight recovery from 2023, where 50,200 new units were produced, challenges persist amid rising housing prices and discussions around nearshoring's impact on housing demand.

Queretaro Rises as Tech Hub in Mexico: Mauricio Kuri

Queretaro is rapidly becoming a hub for technological innovation in Mexico, says Governor Mauricio Kuri. Major international corporations like Amazon, DHL, and Samsung have recently invested significantly in the state. 

Mexico, United States Revamp Border Infrastructure

Mexico and the United States are enhancing their border infrastructure to facilitate trade and travel, aiming to capitalize on nearshoring opportunities and strengthen economic ties. Recently, US President Joe Biden granted three Presidential Permits to advance key projects along the border, aiming to ease congestion, reduce wait times, and enhance cross-border trade efficiency.

UNAM, CMIC Strengthen Collaboration on Sustainable Construction

UNAM and the Mexican Chamber of the Construction Industry (CMIC) are deepening their collaboration to innovate and promote sustainability in Mexico's construction sector. They focus on developing new materials through circular economy principles, emphasizing reusing and recycling industrial waste. 

Sheinbaum and López Obrador Visit CIIT, Provide Updates

President Andrés Manuel López Obrador and President-elect Claudia Sheinbaum visited the Matias Romero station in Oaxaca to emphasize the ongoing development of the Interoceanic Corridor of the Isthmus of Tehuantepec (CIIT). Scheduled for completion in 2025, the project includes rehabilitation milestones and socio-economic initiatives that aim to benefit local communities across the region.

América Móvil to Gain Control Stake of ClaroVTR in Chile

América Móvil plans to assume a controlling stake of about 91% in ClaroVTR by converting its convertible notes into equity; Liberty Latin America will retain the other 9%. The move is pending approval from Chile’s National Economic Prosecutor’s Office.