REBS+ Baja California 2022
On May 3rd and 4th, the fourth edition of REBS+ Baja California took place at the Bruma Wine Garden venue in Valle de Guadalupe.
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The event, organized by B2B Media and Revista Inmobiliare, brought together leading architects, Real Estate developers, and key players from the Latin American region for a comprehensive day of networking and business and development conferences in the open-air vineyard setting.
Omar Peña, Business Development Executive for our offices in Mexico, participated in the panel on growth and innovation in the development of the Baja California coasts alongside Fernanda Sánchez (Managing Director, JLL Cabo San Lucas), Alejandro Garibay (President, DGL Group), Julio Portales (President, ICB Group), and Pablo Martí (Commercial Director, Armour Secure).
Lars Janson, our Global Head of Business Development, was also present during the event. Below, we share some of his key takeaways.
Due to its border location with the United States, its tourism development, and its quality of life, Baja California has become a vital area for the Real Estate, tourism, and industrial development of Mexico. During the congress, it was mentioned that in recent years, the number of U.S. citizens crossing to buy a home in the state, mainly in Tijuana, has significantly increased. This trend is largely due to the rising cost of housing in the United States.
The potential for urban growth in the peninsula's cities is largely driven by two factors: the decentralization of international industrial development and North American luxury tourism.
Following the pandemic, many Mexican and American companies began a process of "decoupling" from Chinese factories, moving towards nearshoring their manufacturing operations and favoring industrialization, especially in border cities.
On the other hand, the growth in tourist demand from the United States and Canada has led to a strong increase in hotel activity and "second home" residential development within the leisure segment, boosting development in Los Cabos thanks to the solid infrastructure of air and sea transport, health, and additional services that Baja California offers.
These factors lead to a significant population increase in the cities, prompting a reevaluation of their respective urban development strategies. Instead of expanding horizontally, there's a push for better utilization of downtown areas and other already urbanized zones, simultaneously driving a growing demand for mixed-use projects, master plans, and planned urban developments.
