Wednesday, July 29, 2020

Developers ask to restore financial and labor confidence to recover from the impact of COVID-19

The National Chamber of the Housing Development and Promotion Industry called for the restoration of labor certainty, after construction was included as an essential activity. After the construction industry was declared an essential activity, the National Chamber of the Housing Development and Promotion Industry (Canadevi) affirmed this Thursday that financial and labor confidence must be restored to recover the development companies due to the impact of COVID-19. Gonzalo Méndez, national president of the organization, said that at this time it is important to preserve liquidity and provide companies with the necessary financial resources to continue the operation.

“For the housing sector, confinement has presented multiple challenges: it started as a supply shock that impacted demand; reason why today we must concentrate efforts in reestablishing labor certainty, ”he said. In this sense, he added that to the extent that employment and income security are guaranteed for Mexican families, month by month, companies will be able to resume their plans “suddenly interrupted” by the contingency, in addition to strengthening the demand affected by the impacts of the virus.

The president of Canadevi, an organization that represents more than a thousand housing developers from all over the country, endorsed the commitment he made at the beginning of the year with the Pact in Favor of Housing, which will invest more than 175 billion pesos in real estate projects to reactivate employment, the economy and address the social backwardness. “Housing is the way to establish economic policies that promote production cycles at the national level,” he added.

Source: El Financiero

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