Merida, on track to consolidate its real estate market, thanks to the influence of the Train Maya and electronic commerce

The south of Mexico has been one of the areas lagging behind in economic development, which is based in the tourist activity thanks to its natural and cultural richness; however, this has begun to evolve, which has positioned Merida in one of the most dynamic cities, especially in the topic real estate.

According to the platform of real estate Datoz, the White City has registered a series of major investments by companies seeking to establish themselves in the Yucatan peninsula, in order to take advantage of their connection with the south of the country and with the rest of Latin America.

For Pablo López Gallardo, director of Information and Analysis of Solili, it is an important hub that has captured the interest of developers, institutional, as they see the south as a region with labor, safety and connectivity.

“For now, let us with caution, because there is not a key development (as such),” said López Gallardo.

And is that, despite the advances, the city is just an emerging market, because, at the end of the third quarter of 2022, is told with an inventory of industrial space 935,000 square feet of gross leasable area, almost the equivalent of the availability of the City of Mexico.

E-commerce enhances the absorption

According to reports Datoz, in the past nine months, companies e-commerce and companies that were attracted by the Train Mayaactivated the market industrial real estate of Merida. In fact, in this period, the city accumulated a gross absorption of 49,000 square metres.

One of the companies that found attraction in the city is to the Free Market, which leased a build-to-suit (BTS), or building to the extent of 39,000 square feet in the complex Industrial Landscape Meridaproperty of the District Panorama in the submarket West.

In July of 2022 also began operations the logistics center of Amazon in the town of Uman in the Yucatan, with a store of 19,200 square meters and an investment of 440 million pesos.

The investment in works by the Federal Government, as well as its location, logistics, have been elements that have played in favor of the city of yucatán, as it is close access to the sea, heading to McAllen, texas, Florida, and Tampa in the united States, in addition to the south, with Panama.

However, Sergio Mireles, director of Datoz, held that the real estate development industrial you can't force it and that the government's initiatives need to be complemented with educational programs of engineering, infrastructure and training of the work force.

“We know that there are several developers who were invited by the authorities to create industrial parks, but the answer is somewhat shy because investments of such magnitude require security. The trend of development can move forward, but this can not be forced,” he said.

Market pop-up offices

Among the winners of the awakening industrial Meridahighlights the real estate offices in that city, that, against the crisis caused by the pandemic of Covid-19, has managed to leave strengthened.

His dynamism in this segment stands out despite the size of your inventory is a very little of the national total. According to the platform of real estate Solili, between January and August had an average demand of 10,000 square meters.

At the end of September of 2022, the price of monthly rent was 19.26 per square meter, making it one of the most expensive in the country, very close to the City of Mexico, whose price is 21.10 dollars a month.

“The increase in industrial demand is sustained, has allowed a greater interest from developers and investors to be made of properties in moments where even the prices are competitive and would ensure better returns in the future,” stressed the platform.