Home Headlines Yucatan’s real estate sector is linked to the growth of its industry

Yucatan’s real estate sector is linked to the growth of its industry

by Yucatan Times
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Mérida, Yucatán, (March 23, 2021).- “If a state grows industrially, its housing, real estate, and business sectors automatically grow too,” said the head of the Ministry of Economic Development and Labor (Sefoet), Ernesto Herrera Novelo, during the IV Real Estate Forum of the Mexican Association of Real Estate Professionals of Yucatán (AMPI) that was transmitted virtually and concludes today.

He indicated that in the administration headed by Governor Mauricio Vila Dosal, since 2019, Yucatán obtained the first national place in the increase of personnel in the manufacturing and export sectors with 67.3 growth (Inegi-IMMEX), and in turn grew 74.4 percent in Foreign Direct Investment (Ministry of Economy), occupying the seventh national place.

Photo: (SEFOE)

In 2020, despite the pandemic, manufacturing companies were inaugurated and investment from countries such as the United States, China, Japan, and Italy, among others, was consolidated, he said. He remarked that investment in industry opens a range of opportunities for the real estate sector since when these companies arrive, they build their corporations, their executives demand to house, formal jobs are created for the Yucatecan population, houses and offices are built around them, and services are required, generating a virtuous circle as a result of investments.  

Among the strategic themes for 2021, internal consumption will also be promoted with the Made in Yucatan brand, as well as the electronic commerce of these products, since with the construction of the Amazon Logistics Center and those that already operate from firms such as Oxxo, Walmart and Coppel it is possible that local firms can carry out a more competitive national and export electronic commerce reducing their shipping costs.

Photo: (SEFOE)

This year, close coordination with the Federation will also be a priority issue to consolidate the projects undertaken by Governor Mauricio Vila Dosal, which are the Modernization of the Height of Progreso Port and the Technological Development Pole. This alliance also includes the construction of the Mayan Train, which represents unprecedented infrastructure and connectivity for the territory, in favor of the logistics and cargo industries such as tourism.

The head of Sefoet added that the program of verifications in companies for compliance with health protocols will also continue, since health continues to be ahead in the reopening and, of course, the work of the Government will continue through Sefoet in attracting new investments, as well as monitoring existing ones, since “the state of Yucatán stands out for walking hand in hand with companies so that investments are carried out in optimal times and with legal certainty.” 

By the way, he recalled that Yucatán is among the five entities that concentrate the gold medals awarded by the Mexican Institute of Competitiveness (IMCO) for being the best in public and legal security in the entire country, in addition to being the only one that has an electronic services platform to reduce corruption and the time required to open a business, something that is unique in all of Latin America.

Source: SEFOET

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