Nearshoring unleashes the “Regiomontano dream” and the demand for housing in Monterrey 

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Nearshoring has not only boosted the demand for industrial buildings in Nuevo León, but the housing sector is also showing great dynamism, in fact, the inventory under construction in Monterrey is only expected to meet the demand for the next 24 months. 

According to the president of the International Investment Council (IDEI), Alberto de la Garza Evia, the state capital has a unique opportunity for the relocation of companies; In addition, in the last 8 years close to 500,000 people have come to the city in search of the “Regiomontano dream”, both national and foreign. 

“There are more than 60 companies that are right now with the desire to join our area of Nuevo León, to produce the goods that it needs both in our country and the United States, mainly, also the European and Asian markets,” said De la Garza Evia at a press conference for the placement of IDEI bonds on the Mexican Stock Exchange (BMV). 

In this sense, Jorge Martínez Páez, Vice President of Operations of IDEI, commented that a very large housing need is beginning in Nuevo León and it is estimated that around 500,000 houses will be needed in the state in the next 10 years. 

He specified that although a part of it is due to the demographic bonus, there is also the nearshoring factor, since very strong migrations to the state are already registered, for which reason it is sought to satisfy the demand that will be in the future. 

“It is very interesting in the housing part, the average of the inventory that exists against what is being bought we have less than 24 months of inventory, that is, if they stop doing housing projects in less than 24 months it is absorbed”, he claimed. 

Martínez Páez explained that a project takes approximately 3 years to develop, and they are sold at that same stage, so it is necessary to promote the housing sector to meet the needs of the industry. 

IDEI places 800 million pesos in the BMV; goes for more nearshoring markets 

As part of its business plan, Internacional de Inversiones (IDEI) carried out an issuance for 800 million pesos in a green bond linked to sustainability, in order to build 400,000 square meters with certifications for the next 5 years; however, it is also considering expanding its operations to other regions where nearshoring is booming in the country. 

Alberto de la Garza Evia explained that within the next 24 to 36 months they will seek to replicate the operation they have in the city of Monterrey in other markets in the national territory, where companies are also arriving. 

“Studies tell us that it is the Guadalajara market and all its surroundings in the first place; the Bajío market, based in León or Querétaro in second place and the Tijuana market in third place”. 

Regarding the destination of the 800 million pesos, Jaime Escamilla Tienda, IDEI’s Vice President of Administration and Finance, specified that they have a commitment to build 400,000 square meters with certifications for the next 5 years, both in vertical and horizontal projects. 

“We have to build 380,000 square meters that save at least 20% in energy consumption, water consumption and carbon footprint,” he added. “10% of the total, which is 20,000 square meters, we have to save at least 40% in energy or water consumption.” 

Source: Forbes