Real estate investment trusts (Fibras) focused on the industrial sector have been the winners during the height of the health crisis and in this new stage of gradual recovery in economic activities in Mexico, sector analysts agree.

The impetus for these Fibras came mainly from the strong demand for real estate spaces to serve the growing market of online commerce, logistics services, as well as the popularity that the so-called nearshoring has taken and the push of the manufacturing sector with the new commercial agreement between Mexico, the United States and Canada (TMEC).

"E-commerce has become a demand engine and together with the B2B logistics sector they will represent between 40 and 42% of total demand in 2021", according to an analysis by the firm CBRE.

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In addition to the fact that e-commerce growth expectations in Mexico accelerated exponentially during 2020. Online sales grew 81% in 2020, compared to 2019, to reach 316,000 million pesos, which represented 9% of the total of retail sales.

While it is estimated that the value of the activities involved in e-commerce represents 9% of the national Gross Domestic Product (GDP) at the end of this year, estimates from INEGI show.

This has been explained by the main players and analysts in the Fibras sector, which in Mexico is made up of a total of 16 companies, however, not all of them have warehouses, parks, warehouses and industrial buildings.

Those that have this type of property for rent are Fibra Uno, Fibra Prologis, Terrafina and Fibra Macquarie, as well as Fibra Monterrey, mainly.

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However, the performance of this group of real estate trusts in the Mexican Stock Exchange has been mixed so far this year, some registering returns and others, falling prices.

The winners of this 2021 are Fibra Uno, which has about 5.8 million square meters of industrial space, its real estate trust certificates (CBFIs), gain 2.9%, to be exchanged at 23 pesos per unit.

Fibra Prologis has also generated returns for its holders, showing an advance of 2.7% in 2021, its portfolio consists of 3.7 million square meters of profitable gross area of the industrial sector.

While Fibra Monterrey, with 530,671 square meters of profitable gross area of industrial space under lease, has generated a return of 4.0% in its trading on the Stock Market.

You can know the behavior of the industrial market in our Markets section, there you can consult the reports updated to May 2021.

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