Mexico's Real State Sector Beats Economic SlumpBy Alessa Flores | Fri, 02/21/2020 - 17:43
Although Mexico reported an economic contraction in 2019, the industrial real estate sector experienced significant growth, said Javier Camarena, Managing Director of the Meor Real Estate Investment Fund (Meor). Camarena clarified that in 2019, Meor reported a 32 percent increase in its assets’ value, suggesting that new companies are still arriving in Mexico that need industrial space to settle. Another case of progress can be seen in Tampico. According to Pedro Fernández Martínez, President-elect of the Mexican Association of Real Estate Professionals, the state is expected to grow by 4 percent in the real state housing sector by 2020.
Now let’s jump into the Week of Infrastructure!
- In November of last year, Telefónica México signed an agreement with AT&T to offer wholesale access services for last wireless mile to Movistar. However, Telefónica's operating flow was negative in 4Q19 and generated a decrease of €247 million (US$268 million).
- Afores’s managers currently have about MX$700 billion (US$369.5million) to allocate to different infrastructure projects in Mexico through different instruments such as Cerpis and CKDs, said Bernardo González, President of the Mexican Association of Afores (AMAFORE). Moreover, González recalled that one in four pesos that go to infrastructure projects comes from Afores.
- Ixmiquilpan residents took the Minister of the Ministry to Communications and Transport (SCT), Ignacio Meza Echeverría, out of his office to walk down the Colosio Boulevard to Mexico City to request the completion of road projects. According to inhabitants of Ixmiquilpan, there are unfinished works in the towns of Pozo Mirador, San Anta, López Rayón, Los Pintos and Cerritos.
- Donald Trump unveiled a US$1 trillion infrastructure plan that would use tax incentives to encourage private investment in public works. Trump proposed money to be spent on highways, rail, water systems and other infrastructure projects. However, White House budget documents show that Trump's plan lacks financing for nearly half of the US$1 trillion projected.