San Luis Potosí grows mainly driven by the expansion of automotive companies that already operate in this market, and that increased their operations during the last quarter of the year, requiring a larger industrial space in which to carry out their activities.

The automotive sector was one of the most affected, not only with the sharp contraction in demand that occurred in 2020, but also due to the transit of multiple effects on global supply chains that limited the shipment of manufactured goods. Another impact factor is the changes that are taking place as a result of the current demand that electric cars bring, displacing traditional fuel cars.

Of interest: Nexgen Packaging expands its production in Querétaro

For this reason, having reached an accumulated demand at the end of the year that just ended close to 229 thousand square meters is synonymous with the efforts of businessmen and developers who bet on this important market in the lowlands.

For the last quarter of 2021, San Luis Potosí registered a gross demand of 52 thousand square meters, of which 44 thousand are custom-made projects.

At the end of 4Q 2021, construction was also completed, for the most part, custom-made projects for the automotive sector, including Continental, Mayco, and Bend All, among others.

Likewise, more than half of the ships currently under construction are related to or are directly built for companies in this same sector.

If we analyze the current availability, we will see a wide range of options between 2.5 to 21.8 thousand square meters, mainly concentrated in the San Luis de Potosí-Villa Arriaga and San Luis de Potosí Industrial Zone submarkets.

As of 4Q 2021, a total of 76 thousand square meters were also added to inventory, of which 59 thousand are occupied, as they are custom-made projects. While another 44,000 square meters began construction in the last quarter of the year, it is estimated that they will enter their entirety already occupied.

Check here: Supply of industrial space is affected by scarcity of land and electricity

Another fundamental indicator for the recovery in the state of Potosí is the employment that has already exceeded the total registered in 2020 and even the jobs of 2019, according to the records of the Mexican Social Security Institute (IMSS) and the Ministry of Labor. and Social Security (STPS), during the first ten months of the year.

Likewise, the fact that 80% of what is produced in Potosí lands is exported is very positive, a situation that drives the operation of the entity's companies.

And specifically with regard to real estate development, the state has land available for developers to continue building warehouses that meet the needs of automotive companies.

The entity requires by 2022 to focus its efforts on developing suppliers that complement the supply chains for the large assemblers that are located in the entity.