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Mexican real estate investment trust, Fibra Prologis, is preparing to invest about $700 million this year in response to increased demand for industrial space in Mexico's northern cities. The surge is driven by a trend known as "nearshoring," as US companies look to reduce supply chains in the wake of COVID-related challenges in China. Prologis Property Mexico SA, which owns 43% of Fibra, has even begun wait-listing companies interested in setting up or expanding operations.
In addition to Fibra's investment, parent company Prologis Inc. plans to spend another $500 million on undeveloped land, a venture that carries more risk. Despite potential hurdles such as electricity and water supply, the movement toward nearshoring is expected to persist. Major clients such as Amazon, MercadoLibre, and Walmart also boost demand for Prologis' services.
Source: Bloomberg
Understand how Mexico's strategic location, trade relationships and skilled workforce contribute to its growing appeal as a #nearshoring destination in the Prologis Research team's latest report: https://t.co/J7C84y86vU pic.twitter.com/RjxCeuMWV6
— Prologis (@Prologis) June 6, 2023
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