New York, NY, June 27, 2024 (GLOBE NEWSWIRE) — Joe Sitt, Chairman of leading global real estate firm, Thor Equities Group, spoke on Bloomberg’s Wall Street Week on June 27^th to discuss the recent presidential election in Mexico and how the results are reshaping investment strategies.

On Bloomberg’s Wall Street Week with David Westin and Katie Greifeld, Joe Sitt opened his segment by noting the dollar/peso exchange rate is currently serving as a barometer of investor sentiment towards President-elect Claudia Sheinbaum’s victory. He believes the market is currently in a “state of uncertainty” due to several factors, including the current administration’s control of congress until the new president takes office, Claudia Sheinbaum’s support for judicial reform, and the potential impact of the presidential mandate referendum, which allows voters to reevaluate their support for the president halfway through their term.

As an investor in Mexico, Mr. Sitt identified promising opportunities linked to the priorities of President-Elect Claudia Sheinbaum, particularly those policies concerning business, economics, and security. One key initiative involves industrial development through the establishment of 100 new industrial parks, a commitment that reflects her pro-business approach. Additionally, she intends to enhance sustainability and economic efficiency by partnering with the private sector to meet energy demands. In terms of security and economic leadership, President-Elect Sheinbaum has strategically appointed well-regarded leaders to her cabinet. Notably, Omar Garcia Harfuch, who is recognized for his tenure in making Mexico City safer as Head of Police, who will assume a pivotal role in security. In addition to Garcia Harfuch, Marcelo Ebrard has been appointed as Minister of the Economy and brings extensive experience in international relations to his new role. Ebrard played a significant role in renegotiating NAFTA and fostering strong ties with the USA while he served as Secretary of Foreign Affairs for six years. His appointment is critical for maintaining positive relations and economic stability between Mexico and the USA.

Regarding the status of commercial real estate in Mexico, Mr. Sitt stressed the cyclical nature of global markets. He noted that while Europe and Mexico have faced challenges, he anticipates they will rebound due to macroeconomics, tensions with China, and positive relations with the USA. According to Mr. Sitt, “Mexico has been the single biggest beneficiary in the conflict between the west and China”. Mexico is currently the number one trade partner with the USA, and the massive demand for industrial sites shifting from China to Mexico has created positive momentum for the economy and more. On the domestic front, these economic gains are expected to positively impact the business-to-business real estate market. In the business-to-consumer sector, Thor Urbana, the Latin American division of Thor Equities Group, is the most active luxury hospitality developer in Latin America and has benefitted from thriving tourism trends. He concluded the weakened peso will make it even easier for Americans and Western tourists to visit and potentially bolster tourism-related investments in Mexico further.

Thor’s recent activity includes the acquisition of an industrial facility at the border of the Texas/Mexico border, and portfolio of assets in Mexico. Also referenced during his interview was his appearance on Wall Street Week in late 2023 where he spoke about his conviction in Mexico and predicted Claudia Sheinbaum be elected, which may be found on Bloomberg.com. Further activity includes the firm’s push into the data center sector which CEO and Chairman, Joe Sitt, discussed on CNBC’s Squawk on the Street show. Mr. Sitt discussed the voracious appetite for new technology driving the demand for data centers and interest from investors. Thor’s Chairman also spoke on Bloomberg Markets om April to discuss Electreon, the leading provider of wireless charging solutions for electric vehicles; as well as inflation, luxury retail, and opportunities across the evolving real estate market.

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About Thor Equities Group

Thor Equities is a leader in the development, leasing and management of industrial, laboratory, residential, office, hotel and mixed-use assets in premier locations worldwide. The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet. Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid, and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 20 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, and leveraging market trends to maintain a long-term competitive edge. For more information, visit www.thorequities.com.