Some years ago, Mexico City was considered a region with a dynamic real estate development, especially the residential sector, close to 8 thousand units per quarter.

The outlook for new projects in other segments looked encouraging; However, the arrival of the current government administration, which was combined with the impact of the pandemic, made the scenario reconfigure.

Now, in a context of economic recovery, industry participants are waiting for some administrative rules to be unlocked to land million-dollar investments, while analysts already observe a change in housing behavior, as there is currently greater dynamism in the placement of units of lesser value.

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At the beginning of 2020, before the arrival of the pandemic, the Association of Real Estate Developers (ADI), which represents representative firms of the sector, anticipated a joint investment of its associates close to 18 thousand 972 million dollars in the country, of of which 66% would go to Mexico City.

The outlook regarding numbers has not changed. For the next few years, ADI expects its associates to make a joint investment of close to 19 billion dollars, of which 12 billion dollars would be for Mexico City.

For María José Fernández, general director of ADI, this investment contemplated for the city can be made as long as there is an intention of the authorities of the capital to be able to unblock some administrative issues, so that those resources can flow to projects to about to start or already in development.

"We continue to request that paperwork processes, which are still slow, be accelerated, because this will give investors certainty to start new projects," said Fernández.

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ADI has been active on government announcements regarding real estate projects.

In July of this year, the Mexico City Economic Reactivation Plan was announced, where said association expressed its intention to be part of the development of 24 strategic projects in the city, ranging from hospitals, schools, mixed uses, housing, commercial and offices.

Fernández acknowledged that although the government has opened with this association and some administrative procedures have been simplified, there are also pending in this regard, such as building permits.

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