Bloomberg - The outlook for Mexico’s housing industry is “stable” as homebuilders will benefit from purchases from low-income consumers using government-backed mortgages, Moody’s Investors Service said.
Sentido Comun - Infonavit, the government agency that provides mortgage loans to workers, said it has granted 115,739 credits in the last three months, boosting the possibility of reaching its goal of providing half a million mortgages this year.
El Economista - Infonavit will continue its goal of placing 500,000 loans this year although activity could fall up to 7.5 percent. So far, 237.000 have been granted, said Infonavit director Víctor Manuel Borrás Setién.
Sentido Comun - Homex, the largest home builder in Mexico, said it has started construction in the Morelos township known as Xochitepec Summits Campestre of a new social housing development of 6,700 homes.
La Jornada - The Inter-American Development Bank (IDB) disbursed $500 million for Mexico to provide credit lines to intermediary institutions such as the Limited Purpose Financial Companies (Sofoles) and Multiple Purpose Financial Companies (Sofomes) in addition to preserving market liquidity by buying bonds backed by mortgages.
El Financiero - Federal tourism agency Fonatur is putting up six three-star hotels in the Baja California peninsula up for sale as a package in a public auction. The properties include the Desert Inn in San Quintin, Cataviña (within 300 miles of the border south of San Diego), Black Warrior, San Ignacio, Loreto and Ensenada.
El Universal - The collapse of a wall in a hole at a Santa Fe construction site caused the cloaure of two lanes of Paseo de la Reforma, backing up traffic for 10 hours.
El Economista - Second quarter sales of housing developer Sare Holdings fell 32.3 percent over the same period last year to $870.9 million in line with the company's decision to reduce its revenue growth.
Sentido Comun - GMD Resorts, a Mexico City company specializing in tourism real estate development, said it reached an agreement with Interacciones to restructure and improve its debt profile.
Sentido Comun - Grupo Carso, the Carlos Slim-owned largest industrial group in Mexico, said it paid 306.4 million pesos ($22.83 million) the Real Estate Development Project company, which was owned by Ideal, a company that manages infrastructure projects.