Current and Future Developments
The World Trade Center (WTC) brand is gearing up to double its presence in Mexico, with a goal of reaching 30 developments by 2030. Currently, there are 15 active licenses in operation, including iconic projects like WTC Ciudad de México, Monterrey, and Guadalajara. Additionally, developments are underway in Mazatlán, Saltillo, Los Cabos, and Durango.
Carlos Ronderos, the regional director of the World Trade Centers Association, stated that at least 15 more projects are expected in the short and medium term. This shift is driven by the appeal of mixed-use complexes, which integrate offices, retail spaces, and residential areas.
Shifting Focus to Industrial Operations
The WTC’s new face in Mexico was solidified with the opening of WTC San Luis Potosí, a complex that shifted from the traditional business center model to focus on manufacturing and industrial operations.
Michele Porrino, the director of WTC San Luis Potosí, explained that the project spans approximately 2,100 hectares of industrial parks. Over 95% of the clients are foreign companies catering to the US market from Mexico.
Expansion Southward
While WTC projects in Mexico have primarily been located in the northern and central regions, large federal projects like the Tren Interoceánico and Tren Maya are opening up opportunities in the south.
Ronderos mentioned, “We anticipate that a significant portion of the expansion will likely be in the south, with investor interest in Chiapas and other areas. It’s important to note that WTC licenses are limited, meaning only one WTC can exist per city.”
Evolution of Real Estate
The WTC’s roots in Mexico date back to 1994 with the opening of the WTC Ciudad de México, a 210-meter tall building with 50 floors and a former convention center site.
Pablo Suárez, the director of this complex, recalled that in its early years, part of its appeal was an internal internet network connecting businesses to the rest of the world, establishing it as an international business center.
Although the business connections between different developments remain, the real estate concept has evolved. Ronderos noted, “The occupancy rate and rental price of a WTC building are higher compared to similar buildings in the same area. Adjacent hotels have higher occupancy rates, demonstrating the brand’s power.”
Key Questions and Answers
- What is the goal of WTC’s expansion in Mexico? The aim is to double their presence, reaching 30 developments by 2030.
- What types of projects are being prioritized? Mixed-use complexes integrating offices, retail spaces, and residential areas.
- What is the focus of WTC San Luis Potosí? It emphasizes manufacturing and industrial operations, with over 95% of clients being foreign companies serving the US market.
- Where is WTC planning to expand next? Primarily in the south, taking advantage of opportunities created by large federal projects like the Tren Interoceánico and Tren Maya.
- How has the WTC’s real estate concept evolved? The focus has shifted from traditional business centers to higher-performing, mixed-use developments with stronger brand recognition.
