Another investment vehicle under development is the Mexican version of a REIT, the Fideicomisos de Infraestructura y Bienes Raices (FIBRA). Under Mexican law, the purpose of a FIBRA must be to acquire or construct real property. Property owned by the FIBRA must be leased for a minimum of four years before the FIBRA may sell it. First allowed under Mexican law in 1994, FIBRAs have not taken hold in Mexico. Efforts to create them have stalled primarily due to taxation concerns and because much of the private land owned in Mexico is still controlled by individuals or families. Recent changes.
