2023, the year was marked by the relocation of companies (nearshoring) globally. In Mexico, this phenomenon was a trigger for the industrial real estate sector, which was reflected in construction indicators.

According to Solili, a real estate data platform, throughout 2023 the development of more than 350 industrial projects began in different Mexican markets, pressured by the demand of companies that wish to move their production centers to the country, to take advantage of the proximity to the USA.

Check here: Solili Industrial Report 4Q 2023, national demand in 2023 contracted 20% compared to 2022

Thus, at the end of December, a total of 5.6 million square meters of industrial warehouses were reported to be under construction nationwide.

Although construction did not stop throughout the year to satisfy the reconfiguration of supply chains, an analysis carried out by Banco Base highlighted that nearshoring is "a golden opportunity that is not being taken full advantage of." It is estimated that Mexico receives only between 10% and 20% of foreign investment flows due to the relocation of companies.

"These investment flows are highly concentrated in certain states and manufacturing subsectors. In fact, there are entities where nearshoring remains a myth, since they have not received new investments," reads the bank's report.

Of interest: Saltillo industrial market maintains automotive vocation during 2023

It is worth mentioning that in 2023 Monterrey stood out for the announcement of an investment of more than US$5 billion by Tesla; However, the city was already emerging as one of the winners of nearshoring prior to this event, due to its geographical location, its infrastructure and its manufacturing vocation developed over the years.

With more than a hundred projects, the city of Monterrey last year exceeded 1.5 million square meters of new industrial warehouses under construction, according to Solili. The second quarter was the most dynamic in the region, since the execution of 31 industrial warehouses began.

In Solili you can consult industrial warehouses available in Saltillo and Tijuana

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