The growth rate of industrial inventories in the northern region of Mexico, which make up eight of the markets monitored by the Solili platform, has increased by an annual average of 6.9%, while the national average registers 6.2%. Monterrey is the market that reports the greatest increase at an annual rate of 9.6%.

Another region that is also growing above the national average is the lowlands, which registers an annual inventory increase of 6.4%, if we use the contribution generated by the four markets that make it up, such as Querétaro, Guanajuato, San Luis Potosí y Aguascalientes. 

Consult here: Industrial Monterrey, gross demand reports a strong impulse during the last two years

However, one of the most relevant indicators of activity in the industrial real estate market is the start of construction so far in 2023. While in the northern region work has started on about 1,976,000 square meters of new industrial buildings, in the Bajío region the figure reaches 420,000 square meters.

Of the total number of projects that began construction in 2023 in the northern region, there are four markets that take the lead, as is the case of Monterrey, Tijuana, Ciudad Juárez and Saltillo, which registered 780, 341, 267 and 225 thousand square meters of new industrial buildings, respectively.

The start of construction in the northern region exceeds by 13% what was built a year ago, driven by new projects that began in Mexicali, Tecate, Tijuana, Chihuahua and Saltillo. The rest of the markets in the north of the country are advancing at a more conservative pace than that shown a year ago, but they still generate significant quantities that allow the northern markets to account for almost 70% of the almost 2.9 million square meters of new industrial buildings that began to be built in 2023.

Of interest: First level inventory grows in Ciudad Juarez, developments focus on class A projects

Now, if we analyze the total number of buildings in the country, according to figures for the closing of 2Q 2023 issued by the real estate platform Solili, the amount exceeds 5.6 million square meters that are built nationwide and that represents a growth of 10% with what was built a year ago. Of the national total, the eight northern markets manage to accumulate 68%, which makes it the region with the highest construction activity in the country.