Close to the end of 2023, the markets of the northern region continue to be the protagonists of gross industrial demand with more than 5 million 121 thousand square meters, which represent 55% of the national total. This participation managed to increase by two percentage points compared to what was reported in the same months of 2022.

The privileged geographical position that allows northern markets to be close to the largest consumer market in the world is the differentiating element that drives companies to locate on this border. Time optimization, proven supply chains and the availability of qualified and competitive labor complement the competitive advantages of this region.

Of interest: Learn about the brokers who have taken advantage in Saltillo, strengthening their industrial profile

Monterrey alone registers almost a quarter of what was reported in the total of the eight markets that make up the northern region of the country, monitored by the Solili platform and accumulates between January and November one million 215 thousand square meters.

The markets of Tijuana and Saltillo occupy second and third place in accumulated gross demand in the 11 months of 2023 in the north of the country, reporting 528 and 411 thousand square meters, respectively.

The projections for the end of the year already seem decisive with the results as of November 2023 that show a well-strengthened Tijuana market that will manage to exceed at least 50% what was reported in 2022. However, Monterrey and Saltillo, although they have A significant effort in terms of industrial investment, have not yet been able to reach the 2022 figures and although they quickened their pace in December, the trend indicates more moderate growth than that recorded in the previous year.

The reasons we can argue for this slower development are partly associated with the shortage of supply, which can be seen with the low vacancy levels that markets such as Tijuana, Saltillo and Monterrey have as of November 2023 with 1.9%, 1.2% and 0.9%. This trend is replicated in other northern markets such as Ciudad Juárez and Reynosa, which end November with 2.7% and 1.8%, although the lowest percentage is recorded in Chihuahua with 0.7%.

See also: Which markets lead industrial construction in the last quarter of the year?

Another factor that determines the more moderate growth in demand has to do with infrastructure issues, mainly that associated with electricity supply. According to figures from the Ministry of Energy in Mexico, about a third of the demand for electricity comes from the industrial sector, which has an impact on the growth of this sector, as the growth registered in the last three years affects investment plans and slows down availability for the new industrial constructions starting.

However, efforts are being perceived on the part of the private sector that is looking for options such as the adoption of processes that incorporate clean energy in the industrial construction phases, while the public sector through the Federal Electricity Commission is preparing an investment of 41.7 thousand mdp in electrical infrastructure by 2024.