Industrial real estate has had exponential growth in the world and in Latin America, where macroeconomic stability allows access to credit, which is essential to be able to develop this type of infrastructure. And while in Argentina 100,000 square meters per year have been developed during the last 3 years, in countries of the region such as Chile or Colombia, that figure is easily quintupled. And not to mention Brazil, which can quintuple the capacity of our entire country in just one of its important states.
The local challenge is to continue finding and developing real estate in strategic locations because today logistics wants to be close to the consumer to get there as quickly as possible. In all the countries of the world, companies need to be located in central arteries to give agility to the movement of merchandise, and ensure the convenience of transporting products and supplies.
It is not the same to settle ten blocks from the highway than on it. The location gives us additional efficiency and greater advantages. Our mission, as leaders in the field, is to continue expanding our projects in strategic locations. The increase in e-commerce requires increasingly effective logistics processes, and for this it is essential to settle in strategic accesses.
The market has changed strongly since the pandemic. The vacant square meters have been quickly absorbed, while very few were incorporated in the last two years. Today we see a demand that does not find deposits of the characteristics that they need, and this causes prices to begin to rise above 7 dollars per square meter of rent.
Some construction projects have been resumed, it is true, but they will take twelve to eighteen months to enter the market. And until that happens, we’re going to see prices go up if this demand persists. We know that in Argentina there is a lack of infrastructure in terms of logistics and industrial parks, but we are on a par with the world in developing technology to do so.
At Grupo Posadas we are on the eve of new launches to add supply, knowing that storage and logistics will have great development in the future. Both will continue to grow, so our expansion is essential, with the goal of reaching a million square meters in the next 10 years. If the economic development of the country allows it, we will work for that.
By Adolfo Curí
CEO of Posadas Group
by Adolfo Curí
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