The Business Year

José Luis Quiroz Robles

President, IQ Real Estate

Jaime Fasja, Jimmy Arakanji

Co-CEOs & Founders, Thor Urbana Capital

What are the company’s main target markets and what is its strategy in Mexico? JAIME FASJA Thor Urbana is a Mexican Real Estate development firm founded about three years ago, […]

What are the company’s main target markets and what is its strategy in Mexico?

JAIME FASJA Thor Urbana is a Mexican Real Estate development firm founded about three years ago, having identified an opportunity to capitalize on Mexico’s strong economic growth and solid real estate fundamentals, at a time when the negative perception of the country kept away, or limited foreign institutional capital entering the country. Today, through a vertically integrated platform, we specialize in the sourcing, acquisition, development, repositioning, marketing, management, and disposition of retail, hotel, and mixed-use assets located on Mexico’s main avenues and urban markets.

JIMMY ARAKANJI Thor Urbana Capital focuses primarily on high quality retail, hotel, and mixed-use investment and development projects located in the main avenues and urban markets in Mexico. Currently, we are developing multiple projects spread throughout the country in places such as Mexico City, Guadalajara, Playa del Carmen, Los Cabos, and Mérida, without ignoring other important markets such as Queretaro, Puebla, Monterrey, among others. These markets are characterized by having high urban and economic growth potential, solid social infrastructure, and friendly business environments that promote new investments and favor consumer demand for more products and services.

JOSE LUIS QUIROZ We are a consulting and real estate development firm, specializing in large-scale, mixed-use, and fashion retail developments. I founded this company four years ago, and today we are involved with 12 to 15 projects, including regional fashion centers and mixed-use buildings. We are focused on different regions throughout Mexico, as well as the metropolitan area of Mexico City. One of our projects is the third expansion of the Santa Fé mall for Caabsa Group, which includes an SLS Hotel, 150,000 sqm of office space; the tallest office-tower in Santa Fe, residences, and 20,000 sqm of new retail space including a department store. CENTRO SANTA FE will be one of the five largest projects in its kind in the Americas.

What kinds of projects are you now working on?

JA We are currently under construction on one of the most emblematic projects in the Mayan Riviera, located in downtown Playa del Carmen. It is a mixed-use project that will accommodate a lifestyle retail center as well as the first internationally renowned lifestyle boutique hotel in the region, a Thompson Hotel. This project is being developed in the epicenter of La Quinta Avenida, one of the most visited and recognized streets in Mexico where shops and boutiques, bars and restaurants are spread out over nearly two kilometers. This project is an example of urban renewal, as multiple properties were acquired to rebuild and modernize urban space through a new world-class mixed-use project.

Who are your main clients?

JLQ Our clients are the largest and most successful development companies in Mexico; 99% of the clients that approach us are developers. We are seen in the market as the shopping center experts of the country—as planners, developers, and a company that leases shopping centers. Mostly, we create fashion centers, which are the toughest to develop, but the safest in terms of retail development business. We work with the developers to fit everything into creating the concept, planning the investment platform, and choosing the right architectural firm to develop the project.



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