E-commerce and nearshoring boosted Fibra Prologis' results during the second quarter of this year (2Q22), with which it reported favorable figures, with revenue growth rates of 12.3%, to 1,350 million pesos compared to 2Q21.

Meanwhile, the net operating income (NOI) grew 12.3%, to 1,174 million pesos, and the operating flows increased 7.5%, reaching 788 million pesos, results that derived from the increase in the gross leasable area of 8.5%, which considers new surface in the division of consumer markets and manufacturing.

Of interest: Ciudad Juárez is the second market in the north with the highest prices

Aspects that boosted Fibra Prologis' results were the 4.3% increase in rent in dollars compared to 2Q21 and the occupancy rate that closed 2Q22 at 97.8%, higher by 140 basis points compared to the same period last year.

The management of Fibra Prologis explained that the greater dynamism in the demand for logistics spaces, which was reflected in an increase in the average occupancy of one percentage point, to 97.3%, as well as higher rents, highlighting the performance of Monterrey, as well as border markets.

“Nearshoring continues to drive demand in the northern markets, with Monterrey being the most benefited by this demand due to its ability to attract more manufacturing companies that are regionalizing their production due to various logistical advantages. We estimate that more than 20% of the demand for space will come from nearshoring agreements,” said Luis Gutiérrez, CEO of Fibra Prologis.

Check here: Faced with an industrial vacancy that is running out, construction of 125 thousand m² begins in Monterrey in 2T 2022

José Espitia, deputy director of Stock Market Analysis at Banorte, described Fibra's 2Q22 financial report as "solid", as it was favored by inorganic growth and a positive dynamic in the industrial sector, highlighting the border markets and Monterrey.

However, he said that although the higher interest rates are less attractive compared to the return of 1.1% for the distribution corresponding to the months of April to June last.

"We believe that the prospect of higher interest rates is an important risk, considering the yield of distribution that looks unattractive," Espitia added.

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Original note