EconomyFinancialFUNO says goodbye to the pandemic and records record...

FUNO says goodbye to the pandemic and records record income in 10 years

Fibra Uno (Funo) broke two records during the first quarter of 2022. The first was the report of income with 8.9% above the previous year, the highest in the last 10 years, and the second a distribution of 80% of the operations flow, which represents 53.8% compared to 1Q21.

The results, in addition to responding to a higher occupancy reporting 92.6% of the total occupancy of its portfolio, is due to the cancellation of support reserves due to Covid-19.

“Because of the way our business is performing and recognizing that we are not health experts, we believe that the pandemic is behind us,” said André El-Mann, CEO of the company, so now the company is in negotiations of new post-pandemic support systems.

During 1Q22 there was also an increase of 9.4% compared to the first quarter of last year and an increase in FFO of 325.9 million pesos.

Funo's biggest push came from industrial properties, followed by commercial. In the first case, the company delivered 392,600 square feet of prime logistics warehouses, including Tijuana Pacífico II, Tijuana Alamar VII and Tultitlán II.

This segment has an occupancy of 96.5%, followed by commercial with an occupancy of 89.5% and offices with 74.8%.

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