Slim commits $200 million to rebuild historic Puebla district
The move
Carlos Slim's Grupo Carso announced a 4 billion peso (roughly $200 million) investment to redevelop the Paseo San Francisco area near Puebla's historic center, including about 700 apartments, two levels of retail, underground parking and new public plazas, with construction over about two years. The plan already has 1.5 billion pesos committed to land purchases and is expected to create 1,500 direct and 2,500 indirect jobs, with hiring priority for people living in the area.
Why it matters
It echoes Slim's redevelopment of Mexico City's historic center in the early 2000s and signals a continued bet on Mexican urban real estate.
The bear case
Large redevelopment projects near historic districts can displace existing small businesses and residents despite stated plans to prioritize locals for jobs.
What to watch
Permitting and groundbreaking progress over the next two years.