Real Estate Market is Getting Red Hot in Mexico Eduardo Garcia - FT.com
go to original May 31, 2013

Mexico’s economy may be recording slower growth, but not the country’s real estate market.

Planigrupo Management, a Mexican investment fund that specialises in commercial real estate, splashed out to acquire $255m for nine shopping malls in the country last week. The transaction comes six months after it had also acquired another shopping centre in November in the northern city of Monterrey for $31m and is the latest in a wave of deals to hit the sector.

Much of the excitement surrounding Mexico’s real estate industry comes on the back of President Enrique Peña Nieto, who has vowed to push through a series of sweeping structural economic reforms through Congress.

While Peña Nieto has so far succeeded in passing key reforms in the telecoms and education sectors, the two most important ones – on energy and taxes – will also face the most opposition.

But that hasn’t stopped investors from betting that these reforms – which could help boost Mexico’s growth rate to 6 per cent – will eventually be passed and fuel demand for office space, hotels and shopping malls.

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