Obtaining a loan for office spaces is difficult because there is no guarantee that it will work. It is not like a hotel where there is an operations contract or a shopping center where it has anchor stores to guarantee returns. Banks prefer to provide loans when the developer is about to finish or has already finished construction, assuming less risk. For the New York Life building, we first secured a lease contract with New York Life to provide Santander the guarantee it needed to give us the loan. Our latest projects are now funded through three to four partners, which are family businesses that have been investing with us for years, while 40-60 percent of the investment comes through bank loans. We have developed a strong relationship with all commercial banks in Mexico, making it a lot easier to obtain loans. We use two to three syndicate loans for each project.
View from the Top
Francisco Martín del Campo
Founder and Director General
Arquitectoma specializes in project design and real estate management. It designed one of the highest skyscrapers in Mexico.
MISR asked a wide range of experts what they are doing to hold projects to high standards when making investment decisions.
ICSC estimates that by 2025 Mexico will have more than 107 million people living in urban areas and approximately 760 shopping centers
Inflation, attracting tenants and land scarcity are common challenges commercial developers face when building new shopping malls in Mexico