Real estate investment trust FIBRA Macquarie México has begun construction on its industrial development project in Tijuana, Baja California, Mexico.

The project involves the construction of a 25ha plot of land in Tijuana’s submarket of Libramiento.

Upon completion, the project will include three industrial buildings totalling 875,000ft² to meet the expanding need for industrial space in northern Mexico.

The first building, with 410,000ft² of gross leasable space, is under construction and is slated to open in the first half of next year. Key service feasibility studies have already been completed, which include road, water, and electricity access.

FIBRA anticipates investing approximately $90m in the development of the industrial park, indicating the company’s commitment to the region’s economic growth and its industrial sector.

In addition, the project is intending to meet the highest environmental requirements, with the goal of environmentally certifying each structure and minimising its environmental imprint as much as possible.

FIBRA CEO Simon Hanna said: “We are excited to celebrate this milestone with the ground-breaking ceremony of our new industrial development project in Tijuana.

“This project marks a pivotal step in our commitment to fostering economic growth and development in the region and capitalising on the accelerating nearshoring activity into Mexico.

“We currently have a portfolio of 38 properties in the state of Baja California [Mexico], hosting 57 companies and contributing thousands of jobs to the state’s economy.”