Fiber Uno (FUNO), one of the main investment trusts in real estate in Latin America, announced the financial results corresponding to the fourth quarter of 2024 (4T24), where it highlighted an increase of 11% compared to the same period but 2023, to total 7,528.5 million pesos (MDP) from October to December 2024, against 6,783 MDP reported In the same months of the previous year, by its part, in the accumulated of 2024, fiber income grew 9.22%, from 22,969.7 MDP to 25,084.1 MDP. The report also highlights the growth by segments, being the industrialist with the greatest rebound with 14.9%, followed by “others” with 12.7%, the offices segment with 9.7%and the commercial segment with 7.8%. “The indexation of our inflation contracts plus the increases in renovations, the impact of variable income, as well as the recovery in the occupation, were the main drivers of the growth in income of the portfolio Total, ”says the document. Another positive indicator of Funo's good performance during the period in question is the net operational income (NOI), which was 577.1 MDP equivalent to an increase of 9.1% against the same 2023 period.The occupation of the commercial segment increased one hundred base points, reaching 93.7%, and the offices segment grew 20 base points closing by 83.7%, both concepts at its highest level recorded from the pandemic.
Evolution in the midst of uncertainty
At a press conference Gonzalo Robina, deputy general director of Funo said that despite the fact that 2024 was a specially challenging year for the market, where economic, electoral and political movements both at the local and international level impacted the country, the results are more than satisfactory. For this year 2025, said the manager, the expectation is in reaching a 95% occupation of its 93.7% portfolio of what they already have, something completely historical. “A commercial portfolio of more than 95% I do not remember having seen it in the Mexican market in the last models 45 years that I have been in this profession (…). We have been working a lot and can verify it in our shopping centers, where we remove some of the traditional and tired turns we had had [zapaterías, tiendas de regalos o negocios familiares que no se renovaron]by wholesale entertainment, restaurants and food and beverages, ”said Robina. According to the report, the closure of 95.6% of the FUNO operation portfolio is equivalent to a growth of 30 base points compared to the previous quarter. The occupation of the commercial segment increased 100 base points, reaching 93.7%, and the offices segment grew 20 base points closing by 83.7%, both concepts at its highest level recorded from the pandemia. The express question of how it could negatively impact a possible tariff imposition by the United States to Mexico, Jorge Pigeon, the vice president of capital markets of Funo, declared that the uncertainty Financial will always be there, the arrival of a load on tariffs would not affect the company's results. He recalled that the fiber one is a long -term market, based on a real estate investment and not necessarily financial. “We invest because we know that when you buy a root good in a good location, that root good grows over time, regardless of whether you also build something on you. 100% of our properties have this idea of investing in a property that is appreciated over time. Probably, 75% of our industrial portfolio is a portfolio that is located in the large metropolitan area of Mexico City and the State of Mexico: Toluca, towards the New Airport of Santa Lucía, Tlalnepantla (…), or land more dedicated to logistics, distribution or electronic commerce, than to light manufacturing, ”said Jorge Pigeon. He firmly believes in Mexico and that his commitment is “to continue investing in the country and contribute to economic development and innovation of the real estate sector. The solid financial and operational performance in 2024 demonstrates the confidence we have in the country, we stay optimistic in 2025 to continue taking advantage of market opportunities. ”