Based on the premise that the real estate sector has great importance for the national economy since it contributes 14% of the GDP, on August 30, 2018, the XVII AMPI Real Estate Forum called “Shattering Paradigms” was held in Cancun. The forum was organized by the Cancun branch of the Asociacion Mexicana de Profesionales Inmobiliarios, A.C. [Mexican Association of Real Estate Professionals]. The purpose of this event was to bring the real estate sector up to date on business, financial, and potential market trends, as well as to understand current legal regulation requirements and the need to professionalize the industry so that better services are provided in Quintana Roo. To aid in this analysis, six conferences were held to discuss important topics such as “The Role of the New Real Estate Law in Mexico”, “Cambiavit, the New Product of INFONAVIT”, “Urban Reform”, and “Resilience: The Key to Accelerating Sales”, among others. During the event, as important alliances were formed and discussion panels presented success stories, attendees were also able to network among different agents in order to foster synergy. Among the conference speakers were Ernesto Derbez Bautista, Chancellor of the UDLAP [University of the Americas Puebla], Carlos Rios Castellanos, Minister of the SEDETUS [Ministry of Sustainable Urban Land Development], and Miguel Angel Lemus, President of the Real Estate Commission of the Business Coordinator Council, among other experts. To close the event, awards were given to ex-presidents and developers during the AMPI 38th Anniversary Commemorative Cocktail.
Decentralization of Government Agencies
For real estate agents, the government decentralization proposed by President Elect Andres Manuel Lopez Obrador represents a promising reactivation of the real estate market. It implies more transactions, more construction of homes and highway infrastructure and equipment – all of which signify greater benefits for the real estate industry.
Mr. Alejandro Kuri Pheres, National President of the AMPI [Mexican Association of Real Estate Professionals] emphasized that the project must have public/private investment due to the need to build additional residential as well as office real estate properties. Such properties are needed in order to house large-scale government agencies in selected cities, for which real estate activity could grow 7% to 8% in each locality. He emphasized that he is working with real estate professionals throughout the Mexican Republic to analyze the cities where government agencies can be relocated. This is due to the fact that some cities are able to accommodate a government ministry and its ensuing demands on local real estate, while other cities do not have the capacity to do so.