One of the vehicles in which the Afores invest is the Fibras, which use the resources to develop large real estate projects, according to the National Commission of the Retirement Savings System (Consar). Large real estate projects require large amounts of financing, which is why the Afores are one of the main investors.

This year the Afores have invested 30.7% of their total portfolios in Real Estate Investment Trusts, which build large projects in the country; from industrial warehouses to office buildings, schools and hospitals.

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From January to the end of November 2022, they allocated 140,434 million pesos, 8.7% more than the previous year, according to figures from the According to the agency, the Afores can only invest a maximum of between 5% and 10% for each project, depending on the type of Siefore (Investment Company Specialized in retirement funds that is operated by the Afore), such as Fibras or Fibras-E (Investment Trusts in Energy and Infrastructure), in the latter the Afores have invested up to the closing of November 596,631 million pesos.

17 real estate fibers listed on the Mexican Stock Exchange (BMV) or on the Institutional Stock Exchange (Biva) reported in their 2021 reports some data on the participation of Afores in their Real Estate Trust Stock Certificates (Cbfis).

For example, Fibra Monterrey has built automotive agencies for the Hyundai brand, as well as offices such as Torre Patria 888 and Banco Famsa corporate. The fiber reported that investors from the Afores represented 65%.

Fibra Prologis, specialized in the construction of logistics and manufacturing properties, has developed centers for electronic maquiladoras, the medical industry, and assembly plants. He informed that in the last three years Afore Banamex has invested 10%.

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Fibra Plus has carried out projects such as the Lomas Verdes and Plaza Punto Chapultepec shopping malls, on the industrial side it has developed industrial buildings for the Ternium company, Olab laboratories and the Condesa project, which is a mixed development that includes housing rental. Due to Afore investments, it has more than 10% of Afore Coppel, S.A. de C.V. and Afore Azteca, S.A. de C.V., according to the 2021 annual report of the Trust.

Fibra Funo, owners of Torre Míkitah, Portal San Miguel, Plaza Cumbres, Gran Patio Texcoco and Plaza Las Américas, among others, has reported that at least 17% of local investments are from Afores.

According to Consar, the Retirement Savings System has 72 million registered accounts, which allows the Afore to participate by investing in private sectors, financing works such as roads, as well as the energy sector and the two types of fibers.

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

Original note