Business organizations expressed that the violent acts during the anti-gentrification march in Mexico City (CDMX) not only endanger the safety of citizens and tourists, but also damage the city’s image and affect the influx of investment. According to the G9 members, including the Association of Real Estate Developers (ADI) and the Mexico City Hotel Association, there is concern about what happened on July 4th in the Cuauhtémoc municipality, especially in the context of the upcoming 2026 FIFA World Cup.
“This creates uncertainty for national and international investment at a strategic moment leading up to the 2026 FIFA World Cup, when the country must project itself as an open, safe, and prosperous destination for all,” the private sector stated in a letter signed by Jaime Fasja, president of the ADI, Esperanza Ortega, national president of the National Chamber of the Transformation Industry (Canacintra), and nine other business leaders.
In an interview with Econohábitat, Karim Antonio Oviedo Ramírez, president of AMPI, said that gentrification is not a problem caused by the arrival of foreigners, but rather by the lack of incentives for housing construction in the city.
“From our perspective, it is a manifestation that does not contribute much to foreign investment in the country. The problem of gentrification is not caused by foreigners living in Mexico, but rather because not enough new housing has been created,” stated Oviedo Ramírez.
A housing policy is urgently needed
The president of AMPI insisted that rather than rejecting foreigners in Mexico City, citizen protests should focus on demanding a housing policy that promotes the creation of housing solutions.
“From a perspective in which we can all contribute to solving the problem, far from being against people seeking housing, we all have to contribute to a housing policy that allows for the construction of more homes in the country,” he stated.
For its part, the G9 recognized that some of the protests express legitimate concerns among citizen sectors regarding rising housing costs, accelerated urban growth, and the transformation of their neighborhoods.
In addition to the ADI and Canacintra, the business groups that make up the G9 include:
Mexico City Chamber of Commerce, Services, and Tourism.
National Chamber of the Housing Development and Promotion Industry (Canadevi) – Valley of Mexico.
Mexican Chamber of the Construction Industry – Mexico City (CMIC).
National Chamber of the Restaurant and Seasoned Food Industry – Mexico City.
Confederation of Employers of the Mexican Republic – Mexico City (Coparmex).
- College of Architects of Mexico City and Society of Mexican Architects (CAM SAM).
Source: eleconomista
