The month of February 2023 ends and even in the midst of the inflationary environment that the Mexican economy is undergoing, almost 705 thousand square meters of industrial buildings have been completed during the first two months of the year. A little more than half of the settlements correspond to the figures registered in the month of February, according to the Solli platform.

Mexico City achieves the completion of more than 120,000 square meters of industrial buildings where demand has been characterized by an important speculative component that also involves large-format warehouses. Mainly the submarkets of Tepotzotlán, Tultitlan and Cuautitlan is where the greatest activity has been concentrated.

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Querétaro follows with almost 110,000 square meters of completed and delivered projects that are incorporated into inventories. Let us remember that the gross demand for industrial buildings during 2022 in this market exceeded 660 thousand square meters, which allowed it to occupy the fourth position at the national level.

Two other markets in the shoal, such as San Luis Potosí y Guanajuato, are also listed with the completion of 77 and 64 thousand square meters of new industrial projects, between January and February 2023. These projects respond to a large part of the gross demand originated in 2022 and In the case of San Luis Potosí, close to 70% is due to speculative projects, while Guanajuato registered similar proportions between custom-made and speculative projects.

With regard to the markets of the north of the country, these concentrated the majority of the settlements of industrial works with a coverage of 42% of the new offer at the national level during the first two months of 2023. The markets of Monterrey, Tijuana and Mexicali are the ones that manage to incorporate the largest space of the new offer in the region with the delivery of 72, 64 and 58 thousand square meters, respectively.

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The fact that time planning continues at a scheduled pace even in the midst of an environment where inflation appears as one of the main challenges to face gives us insight into the excellent operational and financial execution capacity of the developers involved here.

When there is an escalation of increases in construction costs, timely execution and the ability to purchase materials by tying costs is the key differentiator to be able to comply with the delivery guidelines of planned works.

Another important characteristic is that deliveries are dispersed over the national territory. The pressure of the demand that has been exerted mainly in the northern markets, since it cannot be satisfied, permeates to areas such as the Bajio and the West, which is confirmed by the figures registered during the first two months of 2023.