Sentido Comun - Banco Nacional de Mexico, or Banamex said it will offer a loan package with lower interest rates to small and medium construction companies after establishing a partnership with the Mexican Chamber of the Construction Industry.Real Estate
Urbi expects 2011 revenue of nearly $1.3 billion
Bloomberg - Urbi Desarrollos Urbanos, Mexico’s third largest homebuilder by sales, said 2011 revenue was 16.3 billion pesos ($1.276 billion) to 16.5 billion pesos, or 9 percent to 10 percent higher than the previous year.
www.businessweek.com/news/2012-02-14/urbi-says-2011-revenue-was-as-much-as-16-5-billion-pesos.html
BBVA Bancomer expects to offer 70,000 mortgages
Dow Jones - The Mexican subsidiary of Spanish financial group Banco Bilbao Vizcaya Argentaria said it extended 33,000 mortgages in 2011, and that it expects to grant another 70,000 worth 15 billion pesos ($1.14 billion) this year.
Fibra Uno is buying 23 properties from MexFund
PRNewswire - Fibra Uno, Mexico's first real estate investment trust, announced that it agreed to acquire as many as 23 properties from MexFund in exchange for real estate trust certificates (Certificados Bursatiles Fiduciarios Inmobiliarios - CBFIs).
www.marketwatch.com/story/fibra-uno-agrees-to-acquire-23-properties-from-mexfund-2012-01-11
October industrial production rises less than expected
Dow Jones - Mexican industrial production rose 3.3 percent in October from the year-ago month, and fell by 0.54 percent from September in seasonally adjusted terms, with construction and manufacturing posting gains and mining edging lower.
Homex predicts double-digit growth next year
Dow Jones - Mexican home construction company Desarrolladora Homex said Monday that it expects to report double-digit sales growth next year as it steps up housing construction in Brazil, and adds two prison construction projects in Mexico.
U.S. realtors to show Mexico listings on their websites
JagsReport - Property listings from the entire MLS for the Mexico National Association of Real Estate Professionals, AMPI (Asociación Mexicana de Profesionales Inmobiliarios) will now be shown by US Realtors on their own websites in English.
www.jagsreport.com/2011/11/us-realtors-to-show-mexico-mls-listings-on-their-websites/
Builders fall to lowest level since 2009
Bloomberg - Mexican homebuilders fell to their lowest levels in two years on concern delays in government subsidies will lead to inventory backlogs and cash shortages. The Habita index of six Mexican homebuilders dropped 5.5 percent to 264.28.
Homebuilder Geo cuts cash flow forecast
Reuters - Mexican homebuilder Corporacion GEO cut a 2011 forecast on Thursday to reflect a faster cash burn ahead of the launch of a government program expected to boost mortgage lending in 2012.
www.reuters.com/article/2011/10/27/geo-idUSN1E79Q17B20111027
Geo 3rd Q profit slips although sales increase
Dow Jones - Mexican home construction company Corporacion Geo said Wednesday its third-quarter net profit slipped from a year ago as the result of increased minority participation in its results, while sales and operating profits were higher.
Homex 3rd Q profit falls on exchange losses
Dow Jones = Mexican home construction company Desarrolladora Homex said Monday that its net profit fell in the third quarter from a year earlier as exchange losses offset gains in revenue and operating cash flow.
