Given the U.S. mortgage crisis, the Mexican housing sector represents a good
option for long-term investment
MEXICO CITY, Feb. 7 /PRNewswire/ -- At the invitation of JP Morgan,
representatives from Mexico's real estate industry, both public and private,
will participate in the Fifth Mexican Housing Day to convey to investors their
confidence that Mexico's mortgage and housing markets are not at risk as a
result of the U.S. mortgage crisis.
On Friday, February 8, in New York, and on Monday, February 11, in London,
Carlos Gutierrez Ruiz, Director General of the National Housing Commission
(CONAVI), will head the Mexican delegation that will explain the housing
policy of the President Felipe Calderon government, as well as challenges and
prospects facing Mexico's housing sector.
Hosted by Mexico's leading housing developers, the gathering seeks to
generate confidence in the international financial sector to attract
investment and consolidate Mexico's housing sector as an attractive emerging
market for major international investors.
In this context, housing has consolidated itself as one of the most
dynamic industries in Mexico; more than 90 percent of material used in
building a house are of domestic origin. Construction generates five direct
jobs and involves 37 branches of the housing industry and the services sector.
In 2007, investment in Mexico's housing industry surpassed US$22.915
billion and this year it will top US$25.66 billion.
The Mexican delegation is made up of Lorenza Martinez Trigueros, head of
the Insurance, Pensions and Social Security Unit at the Secretary of the
Treasury and Public Credit; Victor Manuel Borras Setien, director of
Infonavit; Manuel Perez Cardenas, director of Fovissste; and Javier Gavito,
director of SHF.
Also present will be Enrique Castillo, president of the Mexican Banking
Association (Asociacion de Bancos de Mexico); Jose Manuel Rivero Andreu,
President of the Mexican Mortgage Association (Asociacion Hipotecaria
Mexicana); Carlos Lozano, president of the Senate Housing Commission, and
Diego Aguilar, President of the Chamber of Deputies Housing Commission.
SOURCE Comision Nacional de Vivienda (Conavi)
Gerardo Gonzalez Acosta, Technical Director of Social Communication, Conavi,
+011-52-55-9138-9991, Ext. 67203, or +011-52-1-55-2123-2705,
ggonzalez@conavi.gob.mx
