Mexican Housing Industry Predicted to Remain Stable
Ariel Cano Cuevas is the Director General of Vivienda, Mexico’s national housing agency. He delivered the key note speech at the recent Mexican Association of Real Estate Professionals (AMPI) Toma de Protesta (Inauguration) in Mexico City. During the presentation he announced new initiatives for two social housing agencies, INFONAVIT and FOVISSTE. He concluded his remarks by predicting the housing industry in this country will remain strong throughout 2012.
Consistent Growth in Mexico’s Auto Industry
Mexico’s Auto manufacturing industry continues to grow. Mexico has become one of the world’s leaders for production of automobiles. . Adding to this is the announcement last week b the Audi division of Volkswagen. A new plant in Mexico is scheduled to open in 2015 according to the German newspaper Der Spiegel. Final detailed plans will be announced at a meeting in Mexico City on April 18. The first product to be manufacture in this country will be the all terrain vehicle Q5. AUDI in making the announcement recognized the high level of productivity in the Mexican auto industry and its marketing ability as a NAFTA country.
Strong surge in remittances.
Mexicans living in the United States are increasing the amount of money they send home in the fastest pace in a year boosting the outlook for the world’s best performing major currency. Remittances jumped 19 percent in February, the biggest monthly increase since March 2011. To US$ 1.79 billion, the central bank said April 2. The peso has surged 8.5 % this year the most among the major currencies tracked by Bloomberg. According to Alberto Ramos a Latin American economist at Goldman Sachs, Remittances which totaled US$ 22.9 billion in 2011 are Mexico’s third largest saucer of foreign income after automobile and oil exports, the nation’s mining chamber said in a March report.
Mexico’s High Tech Industry is Flying High
Pounce Electronics has announced that it will construct a new manufacturing facility in Morelia, Michoacan. It will be located in the Information Technology Cluster adjacent to Tres Marias a new “city” that has been constructed in suburban Morelia. Tres Marias is a project with new homes, building lots, condominiums, a PGA type golf course, equestrian center, other athletic facilities, and a spa.
Pounce will manufacture. “chips” for use in the automotive, telephone industries and hospitals.
