Javier Sordo Madaleno Bringas participates in panel on Real Estate at J.P. Morgan Conference
The President of GSM, Javier Sordo Madaleno Bringas, was part of a panel discussing “Time to Buy? Three Angles on Real Estate Valuations in Mexico” specializing in Real Estate Development within the annual cycle of conferences organized by JP Morgan in Mexico City.
In the context of the “2018 Mexico Opportunities Conference: Winning is Just the Beginning”, an event organized by J.P. Morgan, distinctive voices from leading Mexican companies and authorities met to talk about the current and future situations of each sector, following the presidential elections this year.
Participating in the panel entitled “Time to Buy? Three Angles on Real Estate Valuations in Mexico,” Javier Sordo Madaleno Bringas debated with Gonzalo Robina, Director General FUNO, and Pedro Azcué, Director General Latam at JLL, on the current state of real estate development in Mexico, the actions to take and the expectations of the sector with regard to the incoming Mexican government.
The president of GSM shared his opinion and experience in real estate investments. He made clear that in the real estate development sector there are still many opportunities to be had in Mexico, above all in Mexico City, as well as in other cities, and especially in the Bajío, which is seeing substantial growth.
The architect also touched on the topic of how shopping centers have evolved in recent years. There has been a shift away from the US model of large closed malls in city suburbs to new ways of understanding retail, with a focus on the user experience. Although it is increasingly difficult to locate new shopping centers within cities, one approach is to look to land use permits and seek urban renewal, as was the case with the Antara mall.
For this reason, he also discussed how retail has evolved to be come a part of mixed-use complexes, where there are flows of different users that enrich the experience. This type of complex forms a new center within a city.
In response to audience questions on the expectations for political impact on the real estate sector, Javier Sordo Madaleno responded that he hopes the new government will show itself to be open to dialogue with professionals in each sector. He thinks the key lies in open and sincere communication between public and private spheres to achieve a better city, and holds that as professionals in our sectors it is also our responsibility to listen and make proposals.
Gonzalo Robina of FUNO agreed, adding that developers are strongly committed to Mexico, not only over the next administration but for the next 50 years and more.