Mexico City, Mexico
Last Revised: June 2010
The metropolitan area generates over $315 billion, over 25% of the nation’s GDP, making it one of the wealthiest urban areas in Latin America. Its urban agglomeration GDP ranks as eighth in the world and is predicted to be the seventh by 2020 with $608 billion.
The economic base of the city has shifted in the last two decades from manufacturing and industrial base to service base. Mexico’s national labor force is at 44.7 million people with 58% of them employed in the service sector, 24% in the industrial sector and 18% in agriculture.
Mexico City is home to hundreds of national and international firms, the Mexican Stock Exchange and several landmarks such as Xochimilco, Zocalo, Angel of Independence, The National Palace and the Castle of Chapultepec. In addition, the city has around 160 museums, over 100 art galleries and about 30 concert halls.
Mexico City is the host of major corporation headquarters from a variety of global businesses including, Telmex, Ford, Chrysler, Volkswagen, Nissan, Siemens, Pepsi, Coca Cola, Honeywell, HP, IBM, Intel and Sony.
Resulting from its first choice for foreign development investment and for near shore corporate use, Mexico’s commercial real estate vacancies remained under 10% in 2009, further solidifying it as the optimal choice for Latin America corporate headquarters, manufacturing, and service industries.
Mexico City Rates At A Glance
| Conversion 12.5 MXN = 1US$ |
Net Rent SQ Meter Per Mo. |
USD Net Rent SQ Foot Per Year |
|||
|---|---|---|---|---|---|
| Downtown Office | Low | High | Low | High | Vacancy |
| New Construction (AAA) | $2.00 | $3.33 | $2.23 | $3.72 | 10.0% |
| Class A (Prime) | $1.50 | $2.00 | $1.67 | $2.23 | 20.0% |
| Class B (Secondary) | $0.66 | $1.25 | $0.75 | $1.39 | 35.0% |
| Suburban Office | Low | High | Low | High | Vacancy |
| New Construction (AAA) | $1.66 | $2.08 | $1.86 | $2.32 | 30.0% |
| Class A (Prime) | $1.25 | $1.39 | $1.39 | $1.86 | 35.0% |
| Class B (Secondary) | $0.83 | $1.33 | $0.93 | $1.49 | 25.0% |
Doing Business in Mexico City.
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