When the developers of any industrial market analyze the indicators of a vacancy with significant downward adjustments in their markets, in the midst of an environment where there is room for price increases combined with growing demands, they have a precise signal that motivates them to start. of speculative constructions that allow them to take advantage when negotiating with potential tenants.

Guadalajara and Mexico City registered a broad dominance of speculative construction by the end of Q3 2023, taking it to the level of 100% and 96%, respectively.

Check here: The industrial horizon of Querétaro, know which submarkets concentrate the constructions

Puebla y Ciudad Juárez belong to the same group of markets where their speculative constructions represent 86% and 84% respectively. The clearest case of correlation with the decrease in vacancy is Mexico City, which registers the largest absolute decrease of almost 200 thousand square meters of vacancy in the last year, the largest amount nationwide.

In the case of Guadalajara, another phenomenon occurs, which is the recovery of its vacancy due to the fact that the dominant proportion of speculative constructions has been maintained at least in the last two years, which has allowed this market to have 43 by September 2023 thousand square meters of vacant spaces.

At the other extreme we find the markets where average projects dominate by more than 70%. Saltillo stands out here with 81% and Tijuana with 73%. Both markets in the north of the country have felt strong demand pressures, the most emblematic case being that of Tijuana, where the increase in accumulated gross demand in the first three months of the year reaches 57%.

The rest of the industrial markets nationwide are leaning toward a moderate scenario where speculative construction and custom-made projects are balanced. Monterrey is a good example where 55% of the constructions are custom-made projects, leaving the remaining 45% for speculative projects. In this same proportion we find the four markets of the Bajío and four other markets in the north of the country such as Tecate, Mexicali, Chihuahua and Reynosa.

Of interest: CTT submarkets destroy 90% of the industrial demand of CDMX in Q3 2023

The effect of relocation of new companies in the country is yet to be developed during 2024 and the years to come and this is reflected in Foreign Direct Investment that during the first six months of the year amounts to 29 thousand 040.8 million dollars, of which as only 7.35% corresponds to the arrival of new investments.

However, the expansions of operations already established in the country are the protagonists of the gross industrial demand that has been registered in the three quarters of 2023.