The Mexican industrial market has been able to overcome the figures of a remarkable performance that it had been showing in the period after the pandemic, favored by the critical conditions that were generated in the supply chains worldwide and that in the case of Mexico were favorable due to its proximity to the North American market and the legal fabric that the T-MEC provided.

The northern border markets had managed to capture the most attention in a global process where shortages and delays in the delivery of goods from Asia and Europe were the key to positioning the country as an ideal center for relocating production.

This situation permeated downstream and created the conditions to demand new providers and services, but now from Mexican soil.

The Monterrey market managed to meet the conditions for comprehensive development, the participation of qualified developers, and the legal and financial conditions that allowed demand to explode strongly during 2021, with a performance that would continue its advance course during the first half of 2022.

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The gross demand in this northern market managed to accumulate in the first six months of 2022 the amount of 892 thousand square meters, a figure that represents an increase of 89% compared to the same period in 2021.

The first quarter of 2022 was where the fastest growth in gross demand occurred with 193%, while in the second quarter of the year demand grew by 37% compared to 2Q 2021.

The difference has been very marked with respect to the markets that follow, where the closest one turns out to be Mexico City, which registered a quarterly demand figure of 429 thousand square meters at the end of 2Q 2022, 66.8% of what was registered by Monterrey. As a comparison parameter at the end of 2Q 2021, Mexico City registered a demand close to 92% of the demand registered by Monterrey.

Let us remember that at the end of the second quarter of 2020 the trend was opposite and the industrial demand of Mexico City exceeded by 150% the spaces that were demanded in Monterrey.

If Monterrey's demand is compared to the demand registered in Guanajuato, Saltillo y Querétaro, these markets register 53%, 44% and 25% of what the Monterrey market registered.

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Nearly three quarters of the accumulated demand between January and June 2022 corresponds to custom-made projects or expansions of companies already located in the area and where manufacturing has played a prominent role in the growth of the region.

The main industrial portfolios have marked their preference to gain ground in this outstanding industrial market and put pressure on rental prices, which in June 2022 reached the historical maximum of the last four years with $4.42 dollars per square meter per month.

The growth can also be measured by the construction that progresses in Monterrey exceeding one million four hundred thousand square meters, a figure that doubles what is being built in Mexico City, which would be its closest competitor in terms of this indicator.

The coming quarters will be interesting for a highly competitive market where the main portfolios will move their pieces even in the midst of the challenges brought about by the issue of electricity self-sufficiency, water supply and the controversies that the United States and Canada bring to the table with the T-MEC.

Announcements such as that of Fibra Mty, which launches a new capital issue for 3,450 million pesos, or that of Vesta, which will invest more than one billion dollars in industrial parks, are examples of the high mobility of the industrial market in the coming quarters.