O’Donnell plans to invest US$315 billion in Mexico
Real estate developer O’Donnell plans to invest up to $315 billion in the next few years in the development of industrial warehouses for distribution and logistics.
The objective of what is also Audi’s ‘home’ in Puebla is to grow in support of the boom in e-commerce in the country’s capital, this is why it seeks to develop spaces even within the capital.
In November 2018, O’Donnell placed a Development Capital Certificate (CKD) in the Mexican Stock Exchange for a value of US$105 million, of which it already made a first issue for US$21 million.
The instrument and co-investments linked to it will allow the company to obtain the resources for its growth in the medium term, explained David O’Donnell, president of the firm.
“We are going to invest between $US80 million and US$100 million a year. That means we are going to invest 30% of the capital and we are going to leverage more or less 65% of the value of the project. With that we are going to have a total fund of US$315 billion,” explained the executive in a press conference at the BMV.
The company’s objective is to maintain growth in Mexico City, but not only in old industrial areas of the capital, but even within it.
In this sense, the real estate company predicted that in the following years the company will develop between two and six projects per year.