Fibras expect a year of positive results thanks to the dynamism of real estate

For Investment Trusts in Real estate (Fibras), 2021 was a year that reflected positive results in its financial indicators, a trend that could be replicated this year, as anticipated by Simón Galante, president of the Mexican Association of Fibers real estate (amoefibre).

“Despite the negative effects caused by the Covid-19 pandemic in our country, the Investment Trusts sector in Real estate (Fibras), presented an economic rebound during 2021, inertia that they hope will continue for this 2022”, explained the general director of Fibra Hotel.

According to data from amoefibreinvestment trusts real estate They have assets equivalent to 3.8% of the Gross Domestic Product, a figure just below the 4% that it represents in sending remittances.

“In general terms, the way the sector reacted was good. We can observe that, in several countries, the economic contribution of estate it attracts foreign investment, so the following months will be positive for the Fibras sector”, anticipated Galante.

Currently the association is made up of 18 trusts, some of which focus on specific segments, while others operate real estate in different sectors.

Contrasting results

For the head of the Association, despite having a similar business model, depending on the segment they serve is the performance of each Fibra.

Thus, in Galante’s opinion, while the portfolios of industrial properties are benefited by changes in consumption habits, focused on electronic commerce, as well as the distribution of merchandise, others such as fibers of the commercial section and hoteliers have been affected in their demand by confinements and restrictions on movement.

“The fibers of the sector commercial They received a strong blow with the arrival of the pandemic and the regulatory decisions to close non-essential activities in the country,” said the president of Amefibra.

“It is currently in full recovery thanks to the reopening of businesses such as shopping malls. commercialrestaurants and entertainment centers.

In the case of hotels, the director pointed to the drop in national and international tourism due to the closure of properties for leisure or business stays, however, this effect has not stopped the incorporation of rooms into hotel portfolios.

“From May to September 2021, more than 13 hotels have been opened in Mexico incorporating more than 2,660 rooms, with a greater participation in the Riviera Maya with an estimated 1,324 rooms, while by the end of the year eight openings are contemplated. hotels, that is to say, more than 1,800 rooms to incorporate”, said the general director of Fibra Hotel.

Offices and schools, same crisis different reactions

For Simón Galante, the trusts with office buildings or real estate for the educational segment had peculiar behaviors, responding differently to the scenario left by the health emergency due to Covid-19.

Regarding office buildings, the manager pointed out that remote work was an immediate option at the beginning of the pandemic, but the reconfiguration was last year, so 2022 should reflect the recovery of occupations.

He stressed that, in the last five years, the market has been concentrated in Mexico City, where 83% of the country’s corporate inventory is located.

On the other hand, educational properties, despite being in online class models, these properties in the country did not make discounts or defer payments to their tenants, as other sectors did.

“In Mexico there is only one trust focused on this segment, which had a solid increase of 86% in the value of its CBFI (Certificado Bursátil Fiduciario Inmobiliario),” Simón Galante said.

Fiber distribution per segment:

Source: Amefibra