Monterrey is one of the most important investment hubs in Mexico. According to the local Secretariat of Economy, 41 new foreign companies have reported investments in the city, totaling an estimated value of $6.8 billion as of June this year. These investments have the potential to generate around 42,332 direct and indirect jobs, driving development in the Northern region of the country.

Among the companies investing in Mexico are renowned firms such as Amazon, Bosch, Del Monte Foods, Hershey's, KIA Motors, Lego, Siemens, The Home Depot, Unilever, and Walmart. However, the most significant recorded investment comes from the steel company Ternium, with a projected amount of $3.2 billion, representing 47% of the total new investments in Monterrey.

Excluding Ternium's investment, the major foreign investments in Monterrey are concentrated in the sectors of commerce (19%), vehicles and parts (15%), capital goods (6%), electronics (4%), and construction and real estate services (4%). According to state government data, these sectors are expected to generate a combined economic impact of approximately $3.2 billion.

Over the past four years, Monterrey has experienced significant growth. It is currently the largest industrial market in Mexico in terms of gross leasable area (GLA), with approximately 15.3 million square meters in the second quarter of 2023. Notable features of this market include a low vacancy rate for industrial spaces and a concentration of new inventory delivered at the national level, as reported by SiiLA Market Analytics.

On the one hand, the vacancy rate for industrial spaces in Monterrey has decreased by over 112% in the past four years, reaching 1.6% in the second quarter of 2023. Additionally, Monterrey accounted for 23% of the industrial inventory delivered throughout Mexico, adding nearly 3.5 million square meters of industrial warehouses between the second quarter of 2019 and 2023.

These data suggest that Monterrey is not only an attractive and dynamic market for both domestic and foreign companies, but also a market where demand surpasses the supply of industrial spaces. This has led to an increase in average market prices, rising by 33% and reaching historically high levels close to six dollars per square meter, according to SiiLA.

Considering the significant growth and numerous investment opportunities in Monterrey, it is crucial to have accurate and up-to-date information about the industrial market in the region. We invite you to consult SiiLA REsource, the leading information and news platform for commercial real estate analysis, to stay informed on this sector's most notable and important news.

If you have any questions or comments, please get in touch with us at contacto@siila.com.mx.