Monterrey, a city in northeastern Mexico, has increasingly attracted companies in the information and technology sectors. One such company is Globant, a software firm that recently announced the opening of its new 2,000-square-meter office in San Pedro Garza García, Monterrey. This expansion is part of Globant’s three-year plan to establish an Artificial Intelligence Innovation Center for the manufacturing industry, with a projected investment of $60 million.

The investment is having a significant impact on the local real estate market. According to SiiLA Market Analytics, over the past three years, companies in the IT sector have increased their office space by more than 12% in Monterrey, partly thanks to investments like Globant's, which are attracting other major players in the industry, such as Cognizant, EPAM Systems and Wipro Technologies.

Globant’s new artificial intelligence center will primarily target the manufacturing industry, creating 300 new jobs and doubling Globant's workforce in Monterrey. The Argentine company has operated in Mexico since 2014 and currently employs over 3,500 people nationwide. The center will employ AI to optimize production processes, predict industry trends, and streamline the entire value chain in real-time. This is crucial in Monterrey, where the manufacturing and CPG industry occupies 70% of the industrial space, especially in the automotive, electronics, commercial, metal, and food sectors, according to SiiLA.

Globant's investment in Monterrey highlights the region’s growing importance as a technological hub in Mexico. The Center for Innovation in Artificial Intelligence is expected to contribute significantly to the region's economic growth, creating high-quality jobs and attracting new investments from other technology companies seeking to capitalize on Monterrey's potential. SiiLA will continue to monitor the real estate markets and submarkets in Mexico. For more information and industry insights at the national level, visit Market Analytics or email us at contacto@siila.com.mx.