This July 1st, 2020, the USMCA will be implemented, and it is estimated that the development of industrial hubs will be boosted by this. According to a study, the demand for real estate reached a total of 64 thousand m² in May 2020, which is a 5% increase compared to 2019.
The competitive nature of the renting fees in this market should allow for areas, such as logistics and e-commerce, to perform well. During the first trimester of the year, the gross industrial demand dropped 30% in comparison to 2019 as a whole. But, if instead you take the demand from January to May 2019 and put it side by side with 2020, the drop is only 10%. This is a sign that demand has actually been increasing.
Self isolation only “assisted” in improving this demand. Since it was mandated due to the pandemic (April and May), the market for industrial real estate showed an improvement compared to the first trimester of 2020, especially in logistics, e-commerce, and industrial storage.
This can be correlated with the implementation of the USMCA and all the benefits the new free trade can bring. Furthermore, Mexico is a strategic place for those seeking to start a regional supply chain for North and Latin America.
Taking advantage of such a big opportunity is great for any company. Hence, here in VYNMSA, we would like to assist you with all your needs in settling your company in Mexico.
Source: El Economista