AMB Will Invest 600 Million Dollars In REal Estate Developments

AMB will invest 600 million dollars in real estate development

23/09/2010 09:56



Mexico. AMB Property Mexico, a developer and manager of industrial real estate, mainly in regard to distribution and storage centers, said it plans to invest about $600 million dollars in the country over the next four years to face the growing demand for consumer and industrial companies and logistics infrastructure.

The announcement was made by AMB Property Mexico, a subsidiary of the global company, AMB Property Corporation, after formalized the placement of $3,300 billion pesos of certificates maturing on the Mexican Stock Exchange, a transaction that for the first time will allow institutional investors, such as companies that manage pension funds for retirement, participate of the profits and revenues of the growing industrial real estate sector in Mexico.

This way, with the resources obtained by AMB Property Mexico for the placement of the certificates, plus about $700 million pesos that will bring the company, plus a similar amount of funds that will receive from the debt, the company expects to build more than a million square feet of industrial infrastructure in Mexico over the next four years.

Particularly, AMB Property Mexico will focus on building distribution centers and intermodal terminals in Mexico City, Guadalajara and Monterrey, which are the main consumption centers in the country and where there is a growing demand for this type of infrastructure.

Investment announcement of AMB Property Mexico is, indirectly, a vote of confidence in the economic future of Mexico, although in recent months the levels of insecurity faced by some cities, mainly in the north, have generated some uncertainty about companies, mainly foreign, would slow their investment plans.