Fibra Uno (Funo), the first Investment Trust in industrial, commercial and office real estate, presented a report in line with market expectations, with a 7.1% growth in its income, which amounted to 6,232 million pesos ( million pesos) in the fourth quarter of 2022 (4Q22) compared to the same in 2021.

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In the period of comparison, the company said that the net operating income (ION) grew by 5.8%, to 4,872 million pesos and the operating flow closed at 2,249 million, a figure 11.4% below the last quarter of 2021.

The results, which exposed the real estate trust, were driven by the 1.0% increase in the quarterly Gross Leasable Area after having included new projects, as well as the increase in the occupancy rate of 150 base points, which ended at levels of 93.7%. compared to the last three months of the year prior to 2022.

 "Despite macroeconomic headwinds, such as high inflation and record high interest rates, our operations remain strong. With occupancy reaching 93.7%, strong recoveries are seen in the office and retail segments, as well as continued strong performance of the industrial segment," said André El-Mann, CEO of Funo.

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He added that nearshoring is having a positive effect, not only in northern Mexico, but throughout the country. We are going from "made in China to made in Mexico". 

This has benefited the demand of the industrial segment, which in its portfolio of properties in this segment reached an occupancy of 98.0% at the end of the fourth quarter of 2022, as well as an average rent of our industrial buildings of 110 pesos per square meter per month.

Fibra Uno ended the period with a leasable area of 10,987 million square meters, an advance of 1% compared to 4Q 2021.

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Original note