May 22, 2022

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Fibra Uno bets on health infrastructure and schools

Fibra Uno bets on health infrastructure and schools

single fiber (FUNO) knows that one of the sectors Real estate The key is healththe learning gained from the Corona Virus (Covid-19) emergency, so his future plans will focus on developing medical infrastructure and hospitals.

Gonzalo Rubina, Deputy General Manager of FUNOthat the development of the mixed-use Portal Satélite project was originally planned as a center commercialWith offices And the hotel However, corporate spaces will now be adapted to the sector health.

We turned it around to become the center commercialThe hospital and the tower offices you will become offices “Doctors or clinics, this is a combination that has been very successful for us at Mitikah Complex,” the director said.

Thus, Mexico’s first real estate trust will also seek to adapt already built spaces, as part of its re-transformation strategy.

“We have in reconversion more than 120,000 square meters of offices In hospitals, this may sound like a little or a lot, but we’re talking about the fact that roughly 10% of our portfolio offices (It will overturn)”, developed Robina.

“This is roughly equivalent to adding the Torre Mayor and Torre Diana area in reconversions officesIt’s the size of what we do.”

Robina clarified that in the first quarter of the year, reserves earmarked to support tenants due to the effects of Covid-19 were set aside.

Jorge Pigeon, Director of Capital Markets at Fibra Uno, commented that the vacancy is concentrated in office space, but that the re-transfers that have already been carried out have been carried out in the trading portfolio.

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“Best Buy stores, that left Mexico, some of those locations we converted into clinics or hospitals, most of the re-conversion came from a problem. officesPigeon has been added.

There is another kind of re-conversion of commercial space to college campuses, and it’s a strategy already in place in spaces vacated by Best Buy.

thriving wallet

In the first quarter of 2022, the total portfolio FUNO reported an occupancy rate of 92.6%, as the sector offices recorded the highest unemployment rate.

Plot Total leasable area (million square meters) Job Annual variation in occupancy
Artificial 6.0 96.5% 0.5%
commercial 2.8 89.5%
offices 1.1 74.8% -1.6%
Others (hospitals, hotels, schools) 845 99.1% -0.2%

source: FUNO

Offices, door recovery

About Deputy Director FUNO The observed vacancy rates at the moment will be the maximum, even in the scenario of changes in the preferences of hiring companies or working hours.

“Businesses need to rent it out offices Same thing for the four or seven days they occupy, they need the spaces,” he said.

He explained that back to offices Essentially, within a maximum of 18 months, occupations can be seen practically at pre-pandemic levels, although increases in rental rates may remain stagnant.

Without further details, Robina highlighted that a financial institution is currently looking for 30,000 square metres, a demand for space not seen since 2019.

Jorge Begon, director of capital markets at Fibra Uno, explained that the space required is half the size of Torre Mayor.

Supports return to normal

Gonzalo Rubina explained that in the context of inflation rates, contracts indicate increases in line with the mentioned indicator, so the increases will follow that policy.

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Thus, discounts and agreements reached in the payment of rents will not apply, except for a few exceptions.

“The discounts or subsidies that were offered to our tenants have completely disappeared this quarter, and we think we have already left it behind, and we are in the new state of being COVID-19But we can no longer complain, said the deputy general manager.

On the other hand, the directors advanced that despite the fact that professions are already registered in the tower officesIt will be at the end of the third quarter when the Mitikah complex in Mexico City will be officially opened.