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Capital Markets

Latin America: Reit turn ahead?

Latin America’s real-estate investment trust market has stalled in the face of a general pullback in emerging market investing. In the longer term, however, this could be the shock that spurs on a sector held back by asset size and asset scarcity.

by Ben Edwards

Mexico real estate-R-600
A general view shows houses on the side of a hill in Ecatepec neighbourhood in Mexico State, near Mexico City February 13, 2015. REUTERS/Henry Romero (MEXICO - Tags: SOCIETY CITYSCAPE) - RTR4PIZ3
© Henry Romero / Reuters/REUTERS

Bright spots amongst the grey for Mexico's real-estate market

In Mexico City’s upmarket Lomas neighbourhood there is a skyscraper that locals have dubbed ‘El Dorito’ because of its inward-sloping side that resembles the wedge-shaped corn chip. Torre Virreyes, the building’s official title, is the most iconic product of Mexico’s booming real estate investment trust market and a symbol of its early success.

Mexican Reits – Fideicomisos de inversion en Bienes Raices, or Fibras – have grown rapidly over the last five years, jumping from just one in 2011 to around a dozen in early 2016.

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