What residential projects are currently in high demand, and what’s driving this demand?

In recent times, we’ve navigated through a complex landscape, but now we’re witnessing a resurgence. The sectors with the most activity are those catering to more modest budgets, typically under MXN 2.5 million per dwelling. In Mexico City, due to land prices, finding properties under MXN 2 million often requires looking at the outskirts or neighboring towns. However, this segment remains the most vibrant. Other sectors, although showing signs of recovery, haven’t reached their peak levels yet due to a delay in people’s home-buying decisions amid uncertainty. These housing needs persist within society, albeit amidst considerable life uncertainties. Some have opted for renting, a niche that’s poised for substantial growth in the years to come. While renting is currently a niche market in Mexico, exploring different business models and financial considerations for household purchases will be key. Housing demand is anticipated to surge soon, necessitating proactive preparedness.

What’s the strategic direction for FICADE amid evolving market dynamics?

Presently, we’re undergoing a restructuring phase at FICADE driven by two critical factors: shifts in housing purchases and the departure of our founding partner and main shareholder. This transformation has significantly altered our organizational structure and decision-making mechanisms. This year is dedicated to redefining our strategy and business models. We’re establishing a more institutionalized board of directors, envisioning FICADE as an institutional company—a novel perspective in an industry predominantly comprising family businesses. Our focus is on utility and profitability rather than sheer expansion. Efficiency improvement and streamlined processes are paramount; size isn’t my primary focus, it’s efficiency. We’re dedicated to delivering not only luxury but also high-quality offerings under MXN3 million.

How does FICADE integrate ESG and sustainability in its new constructions?

FICADE holds three distinct certifications, including the Edge certification backed by the World Bank, which aligns closely with LEED standards. Our Revolution project was the inaugural recipient of this certification in Mexico City. Projects like Skypark—Amores and San Lorenzo boast this certification, emphasizing resource conservation in water, electricity, and construction materials. This sustainability extends to the operational benefits enjoyed by end-users. Skypark features rooftop parks, reflecting our continuous pursuit of sustainable schemes and practices. Our commitment to sustainability is evident through our Edge certification, marking us as pioneers in Mexico City’s sustainable construction landscape.

What are your forecasts for the Mexican real estate market?

Despite Mexico’s current positioning, which may not be the most enticing for investors, we remain immensely optimistic and committed to contributing to investment landscapes. Exploring fresh opportunities is a stance I strongly endorse. As an entrepreneur, adaptability to challenges invariably yields positive outcomes, and that’s a principle I hold dear.