TOLUCA, MEXICO - Urbi, the leading housing developer in Mexico, is starting operations in a strategic business unit (SBU) in Toluca valley, thus increasing its coverage in Mexico City's metropolitan area as it strengthens its focus on defensive markets with a goal of 3 thousand affordable entry-level and mid-level homes in the area.
"Current housing demand in the State of Mexico represents 21% of the total needed country-wide, in other words, more than 178 thousand new homes every year, due to natural population growth in the region, and the constant migration patterns of the surrounding states, including Mexico City," noted Jaime Suarez Velazquez, Urbi's City Licensee Manager Partner for the city of Toluca.
"Due to the strategic location of Toluca Valley, our offering is not only attractive to workers in the area, but allows us to serve the working population of the commercial and business districts of Mexico City, and contribute to the economic growth and job creation in the region," he added.
"With the recent implementation of Infonavit Total AG, we will widen our offering in this market with a competitive mortgage product in terms of credit rates, mortgage payment per thousand dollars and the lowest valuation charge in the market, which allows us to offer a very affordable option to these segments of the population," said Raul Grajeda, Urbi's Infonavit Housing Manager.
"With the start of an SBU in Toluca Valley, we are announcing our 26th city at a national level as part of a geographical expansion program aimed at the main middle-size cities and metropolitan areas in the country through the City Licensee Manager and Landowner Partnerships, which strengthens our presence in the country with less working capital," said Sergio Guevara Marquez, Urbi's Regional Director of Mexico City's metropolitan area.
Infonavit scheduled an offering of more than 43 thousand mortgages for this year in the state of Mexico, and Fovissste has set a goal of 14 thousand. Currently, Urbi has an important presence in the region in Tecamac, Huehuetoca, Cuautitlan and now Toluca.
Urbi Desarrollos Urbanos S.A.B. de C.V. is the leading housing developer in Mexico and the biggest developer in the northern states, an area with one of the highest growth rates. Additionally, it has a growing presence in the country's metropolitan areas. In over 28 years of operations, Urbi has developed over 300,000 homes, and has always conducted its business with a strong emphasis on financial performance, making it one of the most profitable companies in the sector. Urbi has a unique and replicable business model supported by UrbiNet, its state-of-the-art IT platform.
Source: URBI Desarrollos Urbanos