The Government of Mexico City (CDMX) has simplified urban and environmental impact permits for real estate development, with the aim of reactivating one of the pillars of the capital's economy: construction.

The initiative has allowed the city to have about 106 new projects on the horizon and 839 developments under construction.

This was reported by the Head of Government, Claudia Sheinbaum Pardo, within the framework of the closing of the expo "The Real Estate Show", organized by the Association of Real Estate Developers (ADI).

Together with the Single Impact Commission, the authorities have established that, instead of carrying out different studies (the Urban Impact Study and the Environmental Impact Study), one should be carried out in a single window.

Check here: Mobility of Mexicans could be favored with hybrid work

After holding workshops with different chambers of the construction industry and the real estate sector, the capital's government also established guidelines for the reconversion of offices to housing.

So far, 11 projects of this kind have been approved and others are awaiting authorization. It is expected that these "allow the sales deficit and oversupply of corporate spaces to have an alternative."

At the event, the head of government called for real estate developers to join the discussion table on Territorial Planning and the Urban Development Law.

In addition, he highlighted other projects in which his administration is working to promote construction and real estate development in the capital.

Of interest: Solili Offices Report May 2022, doubles office leasing to vacancy

Among them, the Urban Regeneration and Inclusive Housing Corridors program. Which seeks to promote low-cost housing in 13 areas.

“We are granting incentives, such as the cancellation of the ISAI and property taxes for five years. This has allowed there to be 25 projects at the door”, he said. Likewise, a Commission for the Master Plan of the Zona Rosa will be opened. The Vallejo and Atlampa Partial Plans were also approved, which will promote the industrial sector.

“There are many investments at the door. From warehouses to a spare parts center for all of Latin America and cable car training. They are very important areas for real estate development”, explained Sheinbaum.

In Solili you can consult available offices in Reforma, Polanco and Insurgentes

Original note