Alberto Castillo Chretin, president and CEO of Fibra Terrafina, reported that this year the trust will disburse $ 50 million for new developments and approximately $ 10 million to expand its existing properties.

This will be financed through the reserve of 15% of adjusted operating funds (AFFO) and partially with a revolving credit line.

However, the Capex (capital investments) that it will allocate for the expansions will depend on the resolution of the tenants who have expressed interest in expanding the facilities they occupy.

The executive said they will use existing land for some developments, for example in Cuautitlán Izcalli and are exploring the acquisition of land.

According to its financial report for the months of October to December 2020, Terrafina reported that it had 9 land reserve properties, equivalent to 5.5 million square feet of profitable area, which it will use for future developments.

He added that the projects on the doorstep will be announced in the course of 2021, a year in which the challenges due to the health crisis and the slowdown in the Mexican economy continue.

According to the Solili real estate platform, in the short term, it is expected that the development and growth of new industrial zones will reach municipalities such as Zumpango and Huehuetoca, in the State of Mexico - where there are still lands - and with this, plans of investment and infrastructure.

Also, Tultitlán and Tepotzotlán are some corridors that have registered construction in the last quarter of 2020 and it is expected that more projects will be developed in that area in the future.