When analyzing the gross demand at the national level so far from January to July 2021, the markets of Mexico City and Monterrey set the standard, leading with a participation of 35% at the national level. 

These have traditionally been the markets with the highest degree of maturity where the main international and national developers converge.

Ciudad Juárez, Tijuana, Saltillo and Guadalajara follow and their performance of the main fundamental indicators has been very encouraging in the last semester of 2020 and so far in 2021.

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These markets have been evolving in a way that has attracted great interest from developers who previously focused on the main markets.

In the case of Guadalajara and Saltillo, there were increases in their inventories of 8.67% and 7.14%, annually, comparing 2Q 2021 with 2Q 2020.

Both percentages are much higher than the average registered in Mexico City and Monterrey with 4.5% and 4.0%.

Another phenomenon reported in these emerging markets is the wide range of sizes that has developed in the supply of industrial buildings and the dispersion of supply within their territories.

At the same time, competition has grown in places where the incidence of land had a lower value than that registered in the main cities, which has generated an attractiveness for these markets.

Guadalajara is an interesting case since it went from demanding 30,000 and 40,000 square meters to exceeding 100,000 meters on average in the last two quarters of 2021.

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The commitment of manufacturing and logistics companies to expand their activities in this city has extended the offer of speculative projects with diversification of sizes and construction characteristics that were previously not found in the existing building markets.

The remainder of 2021 and the coming 2022 will continue to advance the investment appetite for new emerging markets since the breadth of the Mexican territory and the high diversification of its economy create important advantages for those developers who have a competitive portfolio in terms of distribution and high construction range in its products.