Developers are Shopping for Retail Space in Mexico

March 2006 » Business Briefs
According to a March 1 New York Times article, developers are seeing green in Mexico where a now-thriving economy and improved family incomes are spurring a much-needed rise in shopping center construction. The newspaper reports that during the last two years, developers and retailers have spent at least $1.5 billion to build shopping centers, and the pace is picking up. American companies-often partnering with Mexican companies to get through red tape-are behind much of the development. They say Mexico’s young population (70 percent are under 35), a strong peso, and falling interest rates for Mexican consumers are attracting their attention. Plus, the current ratio of retail space per person there is just 1.13 square feet, which is extremely low when compared with the 20.12 square feet in the United States.

According to a March 1 New York Times article, developers are seeing green in Mexico where a now-thriving economy and improved family incomes are spurring a much-needed rise in shopping center construction. The newspaper reports that during the last two years, developers and retailers have spent at least $1.5 billion to build shopping centers, and the pace is picking up.

American companies-often partnering with Mexican companies to get through red tape-are behind much of the development. They say Mexico’s young population (70 percent are under 35), a strong peso, and falling interest rates for Mexican consumers are attracting their attention. Plus, the current ratio of retail space per person there is just 1.13 square feet, which is extremely low when compared with the 20.12 square feet in the United States.


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