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Fibra Uno (Funo), the largest real estate trust in Mexico, said its net operating income was up 19.8% in the third quarter of this year compared to the same period in 2017.
He explained that the NOI amounted to 3,439.5 million pesos during the reporting period, but that its gross profit margin was 1.5%. At the same time, revenues reached 4 345.3 million pesos, an increase of 21.6% over the same period.
For its part, operating funds (FFO) increased 41.0% to 2 202.9 million pesos between July and September this year compared to the same months of 2017.
After pointing out that the volatility of the financial markets was constant over the past 24 months, André El-Mann, CEO of Funo, stressed that the real estate sector is long-term. focused on this lapse.
"We are investing in Mexico in the long run because we believe it offers unbeatable investment opportunities.We have a growing middle class with higher disposable income, a demographic bonus that is perhaps one of the best on the planet and a healthy and stable economy, "said the executive.
The real estate trust closed the period with a profitable area of 8,454,283 square meters spread over 535 properties, with an occupancy of 95.4%.
Enter the gourmet market
At the inauguration of the first Parques Polanco shopping mall, Funo announced an alliance with The Happy People and Development (HAP & D) in which they plan to open six units in the country. over the next three years.
At the inauguration ceremony, stating that the operation of the gastronomic markets will be in charge of PAH & D, these will be located in the shopping centers of Fibra Uno.
Each unit represents an investment of 50 million pesos.
The next gourmet unit will be located in the commercial development of Midtown Jalisco in Guadalajara. The 105,000 square meter office building will open in the first quarter of 2019.
The Vice President of Investor Relations and Capital Markets Funo, Jorge Pigeon, explained that this new commercial division will "not move the needle of the income" from the real estate trust.
"Funo is a company that generates about 18 billion pesos in annual business and a gourmet market will not move the needle of the company, but when alliances are made with groups such as HAP & D , Bancomer and WeWork, revenues are multiplying "he maintained.
The manager hoped that this type of space would attract more traffic to the Fibra shopping centers, which welcome 450 million people each year.
Mercado Gourmet Parques Polanco has 15 stores, a bar and three electronic kiosks offering various dining experiences under brands such as Aceto, Chile Güero and Butlers Steak. The capacity is 500 people.
The average ticket is 250 pesos per person.
The time to visit the new attraction is Monday to Sunday, with an opening time of 11:00 and a closing at 22:00.
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