The industrial market of San Luis Potosí reached during the first half of 2023 a gross industrial demand of 110 thousand square meters, a figure slightly higher than that reported in the same period of 2023. 

However, the net absorption that includes vacancies reaches a record above 245 thousand square meters, a figure that breaks a record with respect to the accumulated records of previous years.

The relocation of suppliers specifically to the automotive industry has allowed San Luis Potosí to position itself as one of the main destinations for Foreign Direct Investment. 

Among the four main projects that have been announced in this market is the investment of the BMW plant with 872 million dollars for a new electric vehicle assembly line and a high-voltage battery manufacturing plant.

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Another of the important projects that is energizing the market is the investment by the company Steel Dynamic, which plans to allocate 103 million dollars to build a steel foundry plant.

Another automotive firm that is betting on this market is YMG Motor/SAIC, which will expand its parts distribution center for the storage of spare parts, with the investment of 19.3 million dollars aimed at supporting its growth in Mexico.

During the second half of 2023, the Chinese company Asiaway dedicated to Die-casting (HPDC) processes and machining of aluminum and zinc for auto parts inaugurated the first phase of its new plant in San Luis Potosí, in which an investment of 41.4 million dollars, in a 23 thousand square meter building located on the WTC Industrial Park in San Luis Potosí. 

The company plans a second phase where they estimate to invest an additional 372.6 million dollars.

These large industrial investments energize the network of suppliers that is installed in the Bajio’s entities and will be reflected in the gross industrial demand in the quarters to come.

Of interest: Demand in the Vallejo submarket prompts renovation and reconstruction of industrial spaces

Currently, although there is still a vacancy that in percentage terms represents 2.3%, the trend indicates that there could be greater downward adjustments if the start-up of new projects is not increased in the next semester to come. 

Between July and August 2023, nearly 22 thousand square meters of new industrial buildings began, which are incorporated into the volume of projects under execution and total 130 thousand square meters.

This market has the elements to drive constructions in progress that could reach the levels recorded in the fourth quarter of 2022, where the figure of 250 thousand square meters of industrial projects in development was reached.