At the end of November 2023, industrial constructions in progress already exceed 5.6 billion square meters and are advancing amid an accelerated pace of deliveries with the registration in this last month of 316 thousand square meters of completed industrial works.

Monterrey is in the lead with almost one million 695 thousand square meters, far surpassing the second place occupied by Mexico City with 763 thousand square meters. Only three submarkets in Monterrey such as Apodaca, Salinas Victoria and Santa Catarina concentrated 61% of the areas that were built at the end of the third quarter of the year.

Meanwhile, in the country's capital, 52% of the works in progress during Q3 2023 are located on the Cuautitlán, Tultitlán and Tepotzotlán (CTT) submarkets.

Check here: Tijuana, industrial demand is on track to exceed 2022 levels by 50%

Three other markets on the northern border, such as Saltillo, Tijuana y Ciudad Juárez reported at the end of November the progress of 548, 435 and 412 thousand square meters of industrial warehouses. These northern entities continue to be places where demand continues to concentrate and therefore developers compete to have the available spaces already at some level of progress.

Ramos Arizpe largely dominates the constructions in the Saltillo market, while the construction activity in Tijuana is distributed between the Pacific-Nordika, Insurgentes-El Águila and El Florido - Boulevard 2000 submarkets.

In the case of the Mexican shoal, Queretaro has more than 500 thousand square meters of buildings in progress, followed by Guanajuato with another 357 thousand square meters. San Luis Potosí also maintains strong construction activity with 205 thousand square meters in a market where demand is mainly concentrated in the automotive sector.

Of interest: Solili Industrial Report November 2023, construction begins on 590 thousand m² industrial

Currently, the total areas that are built nationwide represent close to 6% of the total inventory, however in cases such as Monterrey and Saltillo the percentage of areas under construction represents 11% of the inventories of these markets.

By 2024, the new projects that begin will face the challenge of efficiently supplying basic infrastructure services such as donation of water and electricity so that the main industrial markets at the national level can achieve their development potential to meet demand and contain the decline. most accentuated industrial vacancies.