During the second quarter of 2021, Mexico City's industrial demand exceeded the levels of activity it had reported in the last year. According to Solili, the gross demand had a quarterly increase of 10% with 288 thousand square meters, while the annual increase was 60%. Like the trend that has occurred in previous periods, the main occupants were logistics companies, followed by the pharmaceutical and retail business.

Given the high volumes of demand this quarter and at least the last two previous ones, real estate developers reactivated some projects that were in the planning phase, an unequivocal sign that the bet on the city remains on positive grounds.

The construction of 168 thousand square meters began, of which 129 thousand are classified as speculative. Of these projects, those of the developer Litos in Toluca stand out, totaling almost 60 thousand square meters, as well as Fibra Macquarie's investment in a 47 thousand square meter warehouse located in the Cuautitlán submarket.

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Given the current situation, it is expected that some projects that are still planned can be completed in the remainder of the year. Some of importance have been identified, especially in the Tepotzotlán submarket, of developers already located in the area and who through these seek to increase the inventory of their portfolios.

The existing inventory grew 94 thousand square meters, which represents less than one percentage point. Almost all of the new supply reported entered totally vacant.

The second quarter of 2021 was mainly characterized by an advance in vaccination in the country, the process of midterm elections to renew the chamber of deputies and governors at the federal level; foreign companies that established or expanded operations in national territory and positive macroeconomic indicators.

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This political, economic and social panorama allowed the industrial market of the city to continue generating confidence in investors who seek the possibility of establishing their activities in Mexico, as well as the certainty to continue their expansion plans in the national territory.

For the next quarter of the year, demand is expected to maintain its growth, rental prices stable or with a slight upward trend; vacancy rates similar to the levels shown at the end of June and construction figures on the rise.