MEXICO CITY-Jones Lang LaSalle has embarked on a major expansion of its Mexico operations with the addition of an eight-person valuations team. The team will be led by local expert Alfredo Giorgana, who will serve as director of valuations.
Giorgana previously worked at Ingenieria y Avaluos. He brings along a team that includes Hector Bonilla, Luis Figueroa, Jose Gonzalez, Octavio Gonzalez, Emilia Martinez, Celia Miranda and Prospero Velazques. The team will broaden the firm’s overall capital markets capabilities, including a variety of valuation services across the region including single asset, specialty group and portfolio analysis, JLL said in a statement.
A second quarter JLL report on the country indicates a close link to the US economy, meaning that the economic growth started off well the first half of 2011, but has dropped somewhat with the recent economic uncertainty. The Bank of Mexico has revised its economic growth expectations to about 4%, and expects even lower growth, about 3.8%, for 2012.
Mexico is still in first place in Latin American in terms of facilitating business, despite reports of crime throughout the country. Drug-related crime continues to affect important border areas where industry is located, and tourist towns, altering day-to-day activities, and disrupting and discouraging investments and economic growth, according to the JLL report. Polls show most Mexican citizens favor and are thankful for overall government actions and support federal efforts in the “war on drugs.”
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