Pablo Mulas

Pablo Mulas of GBM asked about Vesta's approach to the pace of development in 2026, considering current occupancy levels and broader market uncertainty.

Answer

Lorenzo Dominique Berho Carranza, CEO of Vesta, stated that Vesta will continue to monitor markets and define project starts based on strong demand, citing Guadalajara as an example where two spec buildings were started due to leased existing buildings and strong demand. He indicated that the same approach would apply to other markets like Juárez, Tijuana, and Monterrey, where infrastructure development on newly acquired land will precede new projects. Lorenzo confirmed Vesta will be more active in development in 2026 than in 2025 but will remain cautious and disciplined to avoid over-supply, aiming to position for income generation in 2027.

Pablo Mulas asked about Vesta's planned pace of development in 2026, considering current occupancy levels and broader market uncertainty.

Answer

Lorenzo Dominique Berho Carranza, Vesta's CEO, stated that Vesta will continue to monitor markets and define project starts, citing Guadalajara as an example where new spec buildings were initiated due to strong demand. He expects more development activity than in 2025, focusing on infrastructure for acquired land, while remaining cautious not to over-supply the market, aiming for income generation from these projects by 2027.