Altagracia Gómez

With many opportunities available across Mexico, including food production, real estate, and logistics, Promotora Empresarial de Occidente is working to develop sectors that are poised to boom in the coming years.

Why did the group decide to invest heavily in industrial real estate and logistics?

There are different niches left unattended and a huge opportunity to grow in those special segments. For example, logistics in cold storage has the capacity to grow five times in the next five to 10 years in Mexico, and we are currently building 20,000sqm of cold storage. Then, there is last-mile deliveries, which are not the same in urban areas as they are in less densely populated areas. In terms of finance, we have a solid capital structure and are heavily diversified in our sources. We work with development banks and traditional banking systems to ensure there are no problems with liquidity. We are working on two or three acquisitions specifically oriented toward the storage business including strategic grain facilities. We acquired 14 grain facilities in 2021 in different states in Sinaloa, Guanajuato, and Jalisco, specifically in locations right next to railroad infrastructure because we use that as centers of transfer for bulk storage. It is currently a great time to enter into industrial real estate. There are also two or three companies that we are planning to acquire in 2022, specifically in industrial real estate. We also have 59ha in Riviera Nayarit, 1km from the marina, and it has the best location. We have sold three or four towers of real estate apartments there and are in the process of looking for a partner to develop a five-star hotel. We are also developing a financial tool for the public market in real estate. The smart choice for 2023 is to launch an instrument that has equity and not credit. We have 300,000sqm of land to develop. With the current market conditions, we expect growing interest for people to invest in real estate because it has always been the safe bet for investments. We have an excellent track record in real estate; that is where the group started 40-50 years ago. We want to capitalize on our track record and have some great projects not only in industrial real estate but also in real estate for homes and tourism.

Considering the size of the holding, what will be the main focus for the medium term?

Promotora Empresarial de Occidente has many companies in different sectors, and each one has its specific goals. As a holding, you have two or three main roles, one of which is legacy, because that is the one most important to the shareholders, namely the family that started it. In Tier 1 and Tier 2, we produce thermoform plastic for Tesla, Lucid, John Deere, and Greenbrier. That has grown 60% from 2021 mostly due to nearshoring. There has been a substitution of providers in Asia to Mexico, and that specific company has the opportunity to diversify, as we are getting contacted by aerospace companies. Minsa right now has to navigate the challenge of the international price of corn and its relevance to the culture in Mexico. Almer, meanwhile, has been growing by double digits for the last 10 years, and it will heavily invest in making acquisitions and also continuing to diversify its products and offerings. Dina is transforming back to heavy duty trucks. It has incorporated some Chinese technology, though we are committed to incorporating more national content each year and will do so. For Dina, we are working with the government of Mexico City and Politécnico to create the first electric bus. We are also switching some of the fleet to electrical buses. Each company has its own goals but as a whole, we all have a responsibility to society. We have a great team right now, and the company plans to continue its relevance economically, culturally, socially, and politically. We are dedicated to influencing public policy for everyone’s benefit in providing solutions for mobility, solutions for farmers in Mexico, and solutions for the different things we have a say in.