After more than a year with industrial construction levels close to 2 million square meters, Monterrey has seen a decline in construction. At the end of July 2025, industrial construction stands at below 1.7 million square meters, marking its lowest level since 2023.

Of Interest: Industrial Construction Slows Down in Querétaro During June 2025

At the end of July 2025, vacancy in Monterrey's industrial market exceeded 1.1 million square meters, positioning it as the market with the highest availability in the country.

The slowdown in industrial demand is partly due to the global economic context and international tariff policies, a situation that has particularly impacted the markets in northern Mexico. In July 2025, Monterrey recorded a gross absorption rate of nearly 65,000 square meters.

After the boom experienced in 2024, when developers initiated numerous speculative projects to meet high demand, the subsequent slowdown caused many of these properties to be delivered and added to the available market supply. Faced with this new scenario, developers have opted to reduce the start of new construction and focus on existing supply.

See here: Solili Industrial Report July 2025: National vacancy increased by 1.8 million m² in one year

Despite the adjustment in the pace of new projects, Monterrey remains the market with the highest volume of industrial construction in the country, accounting for 35% of the national total. Currently, nearly 740,000 square meters correspond to available speculative projects.