Mexico’s beleaguered construction industry received some positive news last week, as a series of construction projects intended to revitalize the industry were announced. Though these are early days for the industry, the first green shoots of promise may be appearing.
Read about last week’s industry news right here!
Government Signals Intent on Resolving National Housing Problem
In November, Mexico’s National Housing Program will be presented and will address the problem of providing housing to some 9 million Mexicans currently without suitable homes. According to Pedro Zorrilla, SHF’s General Coordinator for Strategy and Institutional Development, 6 million of these are not connected to any social security system that allows the state to provide housing to them. The government will be moving to resolve this issue and help increase accessibility to financial support, he said.
Construction Industry to be Revitalized in Mexico City
Mexico City will look to revitalize the struggling construction industry with investments of US$4.5 billion in 2H19. The investments will fund a series of local projects, including the Special Program for Urban Regeneration.
Guanajuato Moves Ahead with Industrial Park
The construction works for the León Industrial Park in Guanajuato began last week. So far, it has attracted US$35 million in investment and should create 5,000 jobs.
According to Guanajuato governor Diego Sinhue Rodríguez Vallejo, the investment signals the private sector’s trust in Guanajuato despite uncertainty in the rest of the country.
Public Spaces at Center of Capital’s New Development Strategy
Mexico’s CANADEVI, together with the Association of Real Estate Developers (ADI), announced last week that eleven new public spaces will be built in different areas of Mexico City. Mexico City Mayor Claudia Sheinbaum said that the spaces will be part of a new model of development for the Mexican capital.
Terminal 2 Expansion Receives Multiple Bids
The Mexico City International Airport project to expand Terminal 2 received a total of 10 bids from construction companies, with national company, Grupo Ingenieros Mexicanos Asociados, tendering the highest bid of MX$586 million.