Mexican Residential & Office Sectors in the Limelight
Mexico’s residential and office real estate sectors will be in the limelight in the next GRI Club Real Estate meeting in Mexico City. GRI Residential & Offices Mexico 2019 will take place on November 26 and 27 at Deloitte University. The event will discuss essential topics, such as investment strategy for mixed-use projects, the impact of the shared economy future projects, among others that will help define the future of each segment.
When it comes to the Mexican office market, a hint of cautious optimism in the air. “Mexico City’s office market has been growing steadily in the last few years and according to NGKF’s 2Q19 report, Mexico City had more than 7 million m² of Class A inventory and will continue with the same rhythm throughout the year,” says Leonardo Di Mauro, GRI Club's Head of Real Estate for Latin America. “Something that has raised red flags for investors and developers alike is the increase in vacancy rates and the decrease in absorption. NGKF also reported a net absorption of -61,137m², which is something that had not been seen since 2017,” says Di Mauro.
Many developers and investors were awaiting skies to clear as President Lopez Obrador announced new government policies and programs that would impact projects. To give members a vision of Mexico’s macroeconomic environment and on how it will impact the local real estate sector, , Deputy Director General of Economic Analysis and Investor Relations of Grupo Financiero Banorte, will give a keynote presentation during the event. He will discuss the opportunities and challenges that both developers and investors will encounter in Mexico and the new variables they will have to take into consideration given the economic situation.
Joining the discussion are Enrique Lavin (PGIM Real Estate), Federico Martin del Campo (Walton Street Capital), Gonzalo Robina (Fibra Uno), Jaime Fasja (Thor Urbana), Ricardo Zuñiga (Vertex Real Estate), Vicente Naves (Artha Capital), Roberto Kelleher (Inmobilia), Victor Manuel Requejo (Banco Inmobiliario Mexicano) among other influential developers and investors that together are building Mexico’s future cities. Directors will take part in simultaneous discussion rooms throughout the day to generate new ideas and solutions for existing hurdles. Participants will be able to discuss key issues regarding the residential segment, highlighting issues such as multifamily projects and secondary market growth strategies. They will also be able to enter discussions related to the office segment, including the shared economy with concepts such as coworking and new consumer demands.
Find out more about GRI Residential & Offices Mexico 2019 here and join the discussion!