David Soto Soto's questions to Vesta Real Estate Corporation SAB de CV (VTMX) leadership • Q4 2024
Question
David Soto Soto from Scotiabank asked about potential major risks to the development pipeline, such as tariffs or rising material costs. He also requested color on the marketing efforts for buildings pending lease-up in Juarez and Tijuana.
Answer
CEO Lorenzo Dominique Berho Carranza stated he sees no major effects from material costs, as Mexico is well-supplied and Vesta's use of third-party contractors mitigates risk. Regarding marketing, he highlighted Vesta's key differentiator: a vertically integrated model with local presence in each market. He noted that while they use third-party brokers, over 70% of leasing activity last year came from existing clients, underscoring the importance of their focus on high-quality tenants.