Mexico City, October 22nd, 2020.
The Federal Economic Competition Commission (FECC) announced today that it has initiated investigation no. IO-004-2020 into potential collusive practices in the non-residential real estate rental market in Mexico.
The FECC explained that the size of the national non-residential real estate market is estimated at 108 billion pesos and that it offers real estate services to the commercial and tourism sectors which have been among the most affected since the beginning of the COVID-19 pandemic due to the effects of confinement.
The FECC may require economic agents in the relevant market to provide documents or information or conduct on-site inspections. In such cases, the Federal Economic Competition Law (FECL) may compel such economic agents to cooperate with the FECC and provide it with the requested information.
On the other hand, the announcement of the investigation aims to provide any interested economic agents with the opportunity of cooperating and providing any information it deems appropriate with relation to the investigated conduct or circumstances which may be contrary to the FECL. Therefore, any person or company involved in the relevant market that considers that it may have been affected will have the opportunity to contribute to the FECC’s investigation.
The Competition and Antitrust Practice of the firm will be pleased to provide any additional information on the topic.
S I N C E R E L Y,
Amílcar Peredo
Fernanda Garza
León Jiménez
Carmina Paredes
cparedes@basham.com.mx
