Mexico in Brief

Mexico in Brief, nuestro boletín electrónico mensual, está a su disposición en esta sección. Nuestro Mexico in Brief resume las noticias de negocios más relevantes en México, así como los principales indicadores económicos. Nuestro archivo está organizado por número de edición y fecha referente. Por favor consúltelo a su conveniencia y refiéranos cualquier comentario escribiéndonos a mexico.in.brief@jatabogados.com.

From Mexico in Brief Newsletter

  • FIBRA UNO COMPLETES MAJOR TRANSACTION.

    With the purchase of 74 industrial buildings, Mexican Real Estate Investment Trust Fibra Uno has completed the biggest industrial real estate acquisition of the year in Mexico and Latin America, with an investment of around U.S.$841 million. The buildings were developed by Mexican company Finsa jointly with U.S.-based investment fund Walton Street Capital and are distributed in nine different Mexican States, totaling a construction surface of nearly 13 million square feet.

  • “CANADA CITY CENTER” IN THE MAKING.

    Mexican real estate developer Grupo Inmobiliario Monterrey has begun the construction of “Canada City Center”: a mixed-use development in the Metropolitan area of Monterrey that will be spread across 74 acres, named after a former estate that was located in the same land. The complex would require an investment of approximately U.S.$200 million and construction is expected to end by year 2023. Canada City Center will host three hotels, 3,000 apartments, office spaces as well as commercial and medical areas.

  • INTERNATIONAL FUNDS ON ITS WAY TO IENOVA.

    Mexican energy company Ienova recently received international funding for four of its current solar projects in Mexico, which have a combined output of 376 megawatts. Both the North American Development Bank and the International Finance Corporation, the latter controlled by The World Bank, announced they would each extend U.S.$100 million to Ienova for the completion of such projects, which will also help cut carbon dioxide emissions.

  • U.S.  GOVERNMENT AGENCY TO FINANCE NEW PIPELINE.

    The United States International Development Finance Corporation, or DFC, an executive agency of the U.S. government, has signed a letter of interest to finance approximately U.S.$632 million for the construction of a natural gas pipeline in Southern Mexico. The pipeline is to be developed by Rassini and according to the agency’s CEO, it will help stimulate economic growth in such region, in response to its growing energy needs.

  • NEW PROJECTS ANNOUNCED BY NATCO ENERGY.

    Monterrey-based Natco Energy is preparing four solar and wind power generation projects in the Mexican States of Nuevo Leon and Guanajuato. The projects, two in each of such States, will require a total investment of around U.S.$634 million and are aiming to generate a total of 508 megawatts, combined. The Nuevo Leon projects are set to begin operations in 2021, while the ones in Guanajuato will open in 2022, and all four of them will participate in private energy auctions in Mexico.

  • RAPPI GROWING FAST IN MEXICO.

    Colombian on-demand delivery company Rappi will invest approximately U.S.$300 million in Mexico to extend their service to five more cities and create pit stops for their drivers to rest and recharge their devices. With the expansion of their service to the cities of Chihuahua, Culiacan, Hermosillo, Tijuana and Toluca, Rappi now delivers to 16 Mexican cities. Besides delivering food and groceries to its users, the company also offers the service of payment of bills, cash delivery and courier.

  • MAJOR MEXICAN COMPANIES INVESTING IN BRAZIL.

    Mobile network operator América Movil announced an investment of approximately U.S.$7 billion in Brazil during the next three years with the purpose of increasing the company’s network capacity with greater infrastructure, allowing them to provide new services to their clients. Also investing in Latin America’s biggest country is Solistica, a subsidiary of Mexican bottler Femsa, who reached an agreement to acquire AGV, a Brazilian firm dedicated to storage, distribution and value-added services with net sales close to U.S.$154 million. Although the transaction is currently subject to authorization of the corresponding authorities, it is expected to close in the first quarter of 2020.

  • MONTERREY’S AIRPORT BEGUN EXPANSION.

    Monterrey’s main airport, Aeropuerto International de Monterrey, has begun an expansion worth approximately U.S.$218 million carried out by Mexican airport operator Grupo Aeroportuario del Centro Norte, or OMA. Two wings and 26 new gates will be added to the airport’s current infrastructure, which will increase the airport’s capacity in 50% to 16.5 million passengers per year. The expansion consists of two phases, the first of which will be ready within the next three years.

  • THE RITZ-CARLTON RESERVE OPENS IN MEXICO.

    U.S.-based multinational hotel company Marriot International has recently opened its first Ritz-Carlton Reserve hotel in Mexico, its fourth worldwide, the Los Cabos area, Baja California Sur. This hotel, which required an investment of approximately U.S.$200 million and holds 115 rooms classified in 15 luxury categories. Mexico will host a second Ritz-Carlton Reserve hotel in the Riviera Nayarit, which was announced by Marriot International in December 2018 and is expected to open in 2022.