Industrial construction has been a key indicator of the strong dynamism that this real estate segment has exhibited in recent periods, in response to the notable downward adjustments registered by the vacancy of various entities at the national level.

At the end of the first quarter of 2022, the construction activity almost doubled what was registered in the same period of 2021 and exceeded by more than a quarter what was reported in the fourth quarter of 2021, and thus close with more than 4.7 million square meters that advance at the national level, historical figure reported in the last 4 years.

Monterrey, with almost 1.3 million square meters of industrial buildings being built, far exceeds Mexico City, which reports at the end of 1Q 2022 about 814 thousand square meters concentrated in 83% on the CTT corridors (Cuautitlán, Tultitlán y Tepotzotlán).

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If we do the analysis by zones, the northern border concentrated 58% of what is built in industrial warehouses at the national level, while the lowlands account for 20% of the construction activity, reacting precisely to the strong demand of the last quarter .

During the quarter that just ended in Monterrey, 22 industrial buildings began construction totaling 463 thousand square meters, while Reynosa, Saltillo, Ciudad Juárez y Tijuana, as a whole, achieved the start-up of another 336 thousand square meters of new works, demonstrating the attractiveness of the area for developers and investors.

In the Bajío, construction was also activated in the quarter due to increases in demand and downward vacancy adjustments, which generated the start of new construction in Querétaro, Guanajuato y San Luis Potosí with 163 thousand, 151 thousand and 49 thousand meters square meters of ships that were incorporated into these markets.

In the case of the northern border there has been a significant share of new construction in the number of speculative projects combined with the BTS bespoke projects, while in Bajío the proportion of BTS still leads.

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Particularly in the case of the lowlands and associated with data centers, it has been confirmed that some companies have assumed the risk of building their own facilities, which opens up various negotiation possibilities for the real estate asset once the work is completed.

The fact of the strong mobilization of developers in the construction of industrial buildings even in the midst of a significant inflation spiral that is located at 7.45% for March 2022, is explained by the strong demand that will remain in 2022 under the scenario of rental prices with significant growth margin that allows them to absorb the costs of building and maintain their projected profits.