Corporate Headquarters
Paseo de los Tamarindos
90 Torre 2, Piso 28
Cuajimalpa de Morelos
Mexico City, C.P. 05120
Tel. +52 (55) 5950 0070
Message from
the Chief Executive Officer
I couldn’t be prouder of our results in 2022, an even more extraordinary year than the last, thanks to the achievements of our winning team. We are celebrating growth based on Mexico’s macroeconomic fundamentals, the organic growth of our clients and a recovery in their industries, the boom in nearshoring in Mexico, and the impeccable execution of our Level 3 Strategy, in a climate that favored our industry.
Despite the challenges of the global economy, our medium- and long-term strategic focus is on helping foreign investors set up business in Mexico by providing them the infrastructure, design, location and availability of our industrial buildings and parks.
Constant strategic development is our defining characteristic. The results we have obtained in leasing, occupancy, development of new buildings, renovations and rising rents and leasable area, and all our other successful financial indicators, reinforce our credibility.
Our ESG strategy, aligned with the Level 3 Business Strategy, was launched to investors on Vesta day, and we are keeping close track of it through our ESG work group.
In this strategy, the social investment pillar was restructured to focus on two areas: education and community development. We also continue to prioritize inclusion, which is intrinsic to our projects, not just of gender, but of other vulnerable groups like the elderly and people with disabilities.
In pursuing the targets of our strategy, we raised almost USD $500,000 in funds, including our Vesta Challenge cycling event and strategic alliances with clients, suppliers and allies for implementation of our projects.
In environmental matters, we began the process of obtaining BOMA, LEED O+M and Edge certification and achieved LEED certification for six new properties. We also created a biodiversity policy and updated the Sustainable Construction Manual and Vesta checklist, to include new topics like biodiversity and embodied carbon, among others.
In the matter of corporate governance, we updated our materiality analysis, and we identified ESG risks, updating and continuing our resilience and climate change matrix and its action plans, and created a physical risk matrix by property. We began the human rights due diligence process and trained employees and other stakeholders. We also created an ESG management system based on ISO 14001 and the IQ SR10 standard, and increased our score in the CSA and GRESB rankings. We also signed the Women’s Empowerment Principles (WEPs).
To support the advancement of our employees, we targeted investment in their professional development and growth, specifically with two training programs: eight employees in the portfolio management area earned a specialization in handling Procore. We also began the LEED certification process for employees who are directly involved in our industrial parks, to improve the status and conservation of the portfolio and have this recognized in certifications and rankings.
Our unstoppable attitude, our drive and our efforts to raise standards in everything we do in a combined spirit of optimism and prudence, will help us build a solid, positive future for our clients’ operations, our employees’ well-being, and the development of the communities where we operate.
All of this success has been made possible by our incredible team, and its focus, dedication and hard work based on strategic goals. Together, we turn our actions into benefits for all our stakeholders, particularly for investors and clients. Vesta is deeply committed to each and every one of the people with whom we interact. We will continue to strive for a better future for Mexico and for Mexicans. Thank you for being part of this success story.
Lorenzo D. Berho
Chief Executive Officer
