Nearshoring and North American Integration Drive Mexico’s Manufacturing Growth
Mexico is poised to become one of the leading global manufacturing hubs, driven by industrial relocation (nearshoring) and the strengthening of the North American economic bloc, according to Fibra Uno (FUNO) executives. FUNO is the largest real estate investment trust in Latin America.
Executive Insights on Mexico’s Strategic Position
During the third quarter 2025 results presentation, Gonzalo Robina, FUNO’s deputy general manager, stated that the global manufacturing realignment—following recent economic and political changes in China and Europe—places Mexico in a strategic position.
Mexico is well-positioned to become a major manufacturing hub due to nearshoring and strengthening North American integration, according to FUNO executives. https://t.co/Xj5lQ12yJK
— FUNO (@FibraNomo)
Robina commented, “Mexico will be the big winner in this relative realignment of supply chains in a non-globalized, regionalized world. If we’re not the most benefited, we’ll be the least affected.”
He further explained that Mexico’s unique competitive advantages include its proximity to the United States, sharing 3,500 kilometers of border, which reduces logistics costs and mitigates supply chain interruption risks.
“This will lead to integration of the supply chain between Mexico, the United States, and Canada, definitively establishing the winning region. If we want to see where the future lies, not just for next year but for the next two decades, it’s right there,” Robina asserted.
FUNO’s Financial Performance in Q3 2025
In the third quarter, FUNO reported total revenues of 7,525.3 million pesos, a 5% increase compared to the same period in 2024.
FUNO’s total portfolio occupancy remained at 95%, with the industrial segment reaching 97.4%. This positive outlook on Mexico’s industrial real estate market is maintained by FUNO.
Alignment with Plan México
Jorge Pigeon, FUNO’s vice president of Capital Markets and Investor Relations, noted that Mexico is experiencing a historically similar moment to China’s two decades ago, before becoming a manufacturing powerhouse.
“Today, Mexico has the same opportunity to be a major factory for the world. Especially due to President Donald Trump’s push to bring manufacturing back to the North American region,” Pigeon said.
However, Pigeon warned that to capitalize on this opportunity, national infrastructure must be strengthened: “Our current infrastructure will seem insufficient for the upcoming opportunity. Investments in roads, ports, energy, and more are necessary.”
In this regard, he emphasized that the Mexican federal government’s Plan México, led by President Claudia Sheinbaum, aims to address this direction. “The table is set,” Pigeon concluded.
Fibra Next Launch
Regarding FUNO’s new investment vehicle, Fibra Next, Pigeon informed that they await authorization from Mexico’s Antimonopolies Commission to consolidate the Fideicomiso by 2026.
Once approved, FUNO plans to analyze the market for debt exchange and asset consolidation in a joint venture. This coinvestment model between FUNO and Fibra Next will consolidate strategic projects in the industrial sector.
“We expect to carry out the transaction no later than the first half of next year. There are no pending authorizations. We should be mere hours away from receiving the green light from the Commission,” Robina concluded.
Key Questions and Answers
- What is nearshoring, and why is it important for Mexico? Nearshoring refers to the relocation of businesses or operations to nearby countries, in this case, Mexico. It’s crucial for Mexico due to its proximity to the United States, reducing logistics costs and supply chain risks.
- How does North American integration benefit Mexico’s manufacturing growth? The strengthening of the North American economic bloc, combined with nearshoring, positions Mexico as a strategic manufacturing hub. This integration reduces supply chain interruption risks and fosters regional growth.
- What role does Plan México play in Mexico’s industrial development? Plan México, led by President Claudia Sheinbaum, aims to strengthen Mexico’s infrastructure—crucial for capitalizing on nearshoring opportunities and supporting the country’s industrial growth.
- What is Fibra Next, and how will it impact FUNO’s industrial investments? Fibra Next is a new investment vehicle for FUNO. Once approved, it will enable strategic industrial projects through coinvestment with FUNO, consolidating assets in a joint venture.
