Investment radar: USD 3 billion and five players shaping urban infrastructure in Latin America

Grupo Inmobiliario Monterrey (GIM), led by Eudelio Garza Mercado, will invest over 3 billion dollars in mixed-use developments in Nuevo León, as reported by Milenio in October 2025. The figure represents one of the most significant private capital deployments in urban infrastructure in the region and is just one piece of a broader picture: between Mexico and Colombia, the investment pipeline in strategic urban projects involves federal plans worth trillions of pesos, structured bank financing, and transportation megaprojects reshaping metropolitan connectivity.

This radar, prepared by GRI Institute, maps verified deal flow, committed amounts, and the key decision-makers channeling capital into urban infrastructure in both countries.

Mexico: private capital, structured financing, and a federal plan worth MXN 5.6 trillion

The urban infrastructure investment axis in Mexico operates on three levels: large-scale real estate development driven by family offices and regional groups, financial structuring through vehicles such as Fibras, and the new federal public investment framework seeking mixed public-private schemes.

The Mexican federal government presented the Infrastructure Investment Plan for Development with Well-Being 2026-2030, a program promoted by President Claudia Sheinbaum with a total amount of 5.6 trillion pesos, aimed at boosting the energy and logistics sectors through mixed investment schemes (88.9 Noticias / El Heraldo de México, February 2026). Eduardo Osuna Osuna, CEO of BBVA México, stated that the program requires flawless execution and clear rules for mixed schemes. To break the negative growth inertia in Mexico, infrastructure investment must be sustained above 25% of GDP, according to BBVA México's projection for the 2026-2030 period.

The magnitude of the federal plan sets an institutional ambition floor, but the materialization of capital depends on the ability to attract private co-investment with legal certainty and competitive returns.

Eudelio Garza Mercado and GIM: the largest private deployment in Nuevo León

The over 3 billion dollars GIM will allocate to Nuevo León include flagship projects such as Canadá City Center and Sultana, both mixed-use developments combining residential, commercial, and services components (Milenio / Mexico Industry, October 2025). The scale of the investment reflects the convergence of structural factors: nearshoring has accelerated the demand for urban infrastructure in northern Mexico, and the proximity of the 2026 World Cup creates additional pressure on the installed capacity of cities like Monterrey.

The profile of these projects confirms a trend that GRI Institute has documented in its regional meetings: mixed-use developments are consolidating as the preferred typology for private capital in Latin American urban markets with high densification demand.

Federico Garza Santos and Fibra Mty: structured financing to scale

Fibra Mty, chaired by Federico Garza Santos, entered into a syndicated credit agreement led by Banorte for up to 265 million dollars, aimed at extending debt maturities (Milenio, February 2026). The transaction illustrates how real estate investment vehicles in Mexico are accessing competitive financing to optimize their capital structure and prepare for new acquisition cycles.

Access to syndicated credit on favorable terms signals the banking sector's confidence in the fundamentals of the industrial and mixed-use real estate market in northern Mexico. For institutional investors, Fibras represent the most liquid vehicle for gaining exposure to urban infrastructure growth without assuming direct development risk.

How much capital is being deployed in urban infrastructure in Colombia?

In Colombia, the urban infrastructure pipeline is dominated by public transportation and regional connectivity megaprojects, with an investment profile different from Mexico's: here the main driver is public spending, and the central tension lies in the relationship between local governments and the national government regarding disbursements and execution.

Infrastructure megaprojects in Antioquia exceed 45 trillion pesos in investment, according to reports linked to the management of Luis Horacio Gallón, the department's Secretary of Infrastructure (Semana, July 2025). The figure positions Antioquia as the department with the highest concentration of investment in connectivity and transportation infrastructure outside the federal sphere.

The committed investment volume in Antioquia, exceeding 45 trillion pesos, turns the department into a public works execution laboratory with direct implications for the urban strategy of Medellín and its metropolitan area.

Tomás Elejalde and the Metro de la 80: technical progress with fiscal risk

The Metro de la 80 project in Medellín, under the management of Tomás Elejalde, has reached 48% progress but faces a shortfall of 400 billion pesos from the national government to continue with the established schedule (Teleantioquia, February 2026). The disbursement gap represents a concrete risk for the operational launch date and for the credibility of the co-financing scheme between levels of government.

The Metro de la 80 case highlights a recurring pattern in Colombian urban infrastructure: projects reach critical mass in technical execution but remain exposed to the fiscal and political volatility of intergovernmental flows.

Túnel del Toyo: regional connectivity at risk of delay

The Túnel del Toyo in Antioquia risks delaying its opening until late 2026 or early 2027 due to Invías' failure to install electromechanical equipment (Gobernación de Antioquia / MiOriente). The project, conceived as a key piece of the connectivity strategy between Medellín and Antioquia's Urabá region, illustrates how institutional bottlenecks can neutralize the impact of multimillion-dollar investments already executed in civil works.

What differentiates the urban investment models between Mexico and Colombia?

The contrast between the two countries is structural. In Mexico, private capital leads urban infrastructure development through family offices, regional real estate groups, and Fibras, with the federal plan as a complementary catalyst. In Colombia, urban investment depends more heavily on public spending and coordination between levels of government, with the private sector participating mainly as a contractor or concessionaire.

This divergence has direct implications for international investors. In Mexico, the opportunity lies in direct co-investment in mixed-use development and in acquiring Fibra certificates with exposure to high-growth markets. In Colombia, the investment profile is closer to transportation infrastructure with sovereign backing, but with execution risk associated with intergovernmental fiscal dynamics.

Industry leaders who participate in GRI Institute's clubs have identified urban infrastructure as an investment vertical in the process of consolidation, where the ability to map players, amounts, and execution risks by city constitutes a differential competitive advantage.

Player and capital mapping: reference table

GRI Institute perspective

Urban infrastructure in Latin America is at a defining moment. Capital is available, projects are identified, and decision-makers have clear mandates. The critical variable is execution: in Mexico, the federal plan's ability to establish clear rules for mixed participation; in Colombia, intergovernmental fiscal discipline to sustain construction schedules.

GRI Institute will continue mapping deal flow and key players in urban infrastructure through its meetings and analytical publications, providing its members with the market intelligence needed to make informed investment decisions in the region.