When presenting its annual financial report and the last quarter of 2021, Fibra Prologis highlighted that last year has been the year and the one that ended with growth and a favorable outlook, thanks to the fact that the demand for space remained, driven by the segments of manufacturing and logistics.

Regarding its performance, the industrial real estate trust reported income of 1,273.8 million pesos corresponding to all of last year, which meant an increase of 4% compared to the same period in 2020.

The net profit amounted to 4,860.1 million pesos, compared to 2,793 million pesos the previous year. Meanwhile, the operating flow ended at 1,003.2 million pesos against the previous 957 million pesos.

Check here: Value chain of new technologies is promoted in Tijuana

In figures for the fourth quarter of 2021 compared to the same period of a previous year, the company ended with an increase of 4.1% in its revenues and 4.14% for its net operating income. Operating funds advanced 7 percent.

Fibra's management highlighted that the leasing volume in 2021 was 5.6 million square feet, and renewals represented 61% of this activity.

The occupancy rate stands out, which set a new record of 97.9% at the end of 2021 and the average term for new leases was up to 45 months.

Net effective rent at same properties increased 8.8% for the year and cash net operating income (NOI) at same properties was positive 10%, led by rent change, annual rent increases, less concessions and higher occupancy.

On the other hand, net absorption in the six markets where it operated during the quarter totaled 10.6 million square feet, while vacancy for modern products decreased to 1.7%.

Of interest: Global clients demand in Ciudad Juárez mainly class A industrial buildings

“In 2022, we forecast balance in our six markets. In particular, we expect vacancy to remain below 3% for modern products, which will result in higher market rent levels.

Local consumption and manufacturing for export continue to be the main drivers in our sector," said Luis Gutiérrez, CEO of Fibra Prologis.

"In border markets, vacancies of close to 1% are registered, while there are supply restrictions due to land scarcity or lack of access to electricity in some markets. The company projects that in 2022 there will continue to be a good demand for industrial space and increases in rents," added the specialist.

In Solili you can consult industrial warehouses available in Ciudad de México, Guadalajara and Tijuana

Original note