The earthquake that struck central Mexico on September 19, 2017 killed over 350 people and caused extensive damage to the capital city and surrounding areas. Many more people were injured and even more now must face the loss of their homes or businesses. As survivors of this event, Mexico Business Blog grieves for our friends, neighbors, colleagues and all those whose lives have been so brutally disrupted. The details and descriptions of the earthquake itself have been reported comprehensively elsewhere, so in this post we would like to present some observations from our own experience and address the future of our community in the near to medium term. Continue reading What will happen to Roma and Condesa?
The Mexican construction industry experienced a fairly robust recovery in 2015 after a rough patch in 2013 through mid-2014, even though monthly growth dipped toward the end of the year. This year started out well enough, but in February the Mexican government announced major cuts to the current budget that would have a substantial impact on infrastructure development, and growth slipped again in March (see graph below). The news came as a blow to the industry, as ambitious plans for various types of infrastructure projects during the Peña administration have been significantly rolled back due largely to major revenue shortfalls resulting from declining oil production and a steep drop in world oil prices. But what appears to be a boom of sorts in the construction of high-rise buildings in Mexico City and other parts of the country is helping to divert attention from the infrastructure slump and generate some important activity for the industry. Continue reading Mexico City seeing high-rise boom
Concerns about air traffic saturation at Mexico City’s international airport have led to calls for a new airport going back at least 15 years. Disputes over the appropriate location for a new airport held up the project, and a 2012 expansion of the existing facility helped further delay the inevitable. In late 2014, however, the administration of President Enrique Peña Nieto announced a vast public works project to construct a massive, completely new airport that is driving much interest on the part of service contractors and suppliers of specialized equipment and materials.
Design and construction of the airport will be headed by UK-based Foster and Partners architects and the Netherlands Airport Consultants (NACO) engineering firm. According to government officials, environmental and urban impact studies are underway, with construction scheduled to begin this year and conclude in 2019. Because the airport is planned to be built on a former lake bed, substantial water and soil management work will need to be done prior to construction. Approximately US$1 billion in drainage and water management projects are reportedly planned, including the expansion of nine bodies of water, construction of 90 miles of drainage canals and installation of 24 water treatment plants. Continue reading New capital airport creating construction opportunities