In June, the coalition of the ruling party in Mexico achieved a victory in Congress, generating increased interest among wealthy Mexicans in acquiring properties in Miami, according to statements from Pérez, a representative of a real estate company. Prices for units in the new tower start at $8,000 per square meter, reaching over $6 million for the penthouse.
The company expects to attract Mexican investors during the opening of the sales center in Mexico, scheduled for this week. Following the election of Andrés Manuel López Obrador in 2018, there was a recorded outflow of capital from Mexico to South Florida. In previous developments by the company in Cancún, 95% of sales were to Mexicans, and similar results are expected with the tower on Avenida Reforma.
The design of the Thompson tower was handled by the firm Arquitectonica, with interiors designed by Piero Lissoni. Related Group has been present in Mexico for over 20 years, and despite previous obstacles, it maintains active projects in the country. The Thompson Mexico City Reforma hotel and residences will offer iconic views of the Mexican capital.
Despite uncertainty regarding the country’s politics, Pérez points out that Mexicans continue to invest in Mexico, making the project in Mexico City an exciting opportunity. Related Group has secured reservations with deposits for over 60 units in the tower, which is expected to be completed in three years.
Avenida Reforma in Mexico City has witnessed significant growth in recent years, with multiple real estate developments. The 43-story tower backed by Related Group will include a Thompson brand hotel and will be located in this iconic area of the Mexican capital.
Jorge Pérez, founder of Related Group, known as the king of Miami condos, is the mastermind behind this new investment in Mexico City. The tower will feature 104 luxury condominiums and 115 furnished hotel suites, reflecting the company’s ongoing commitment to the Mexican market.
