Fibra Shop

What Fibra Shop does

Fibra Shop is a Mexican Real Estate Investment Trust (FIBRA) listed on the Bolsa Mexicana de Valores under ticker FSHOP13, established in July 2013 as the first FIBRA in Mexico specialized in commercial real estate. The trust is administered by CIBanco (formerly The Bank of New York Mellon) as Trustee of Trust F/00854. Fibra Shop acquires, develops, leases, and operates a diversified portfolio of 15 named shopping centers spanning approximately 0.8 million m² of leasable area across Mexican geographies including Mexico City, Guadalajara, Querétaro, Puebla, Hermosillo, Ciudad Juárez, San Miguel de Allende, Cabo San Lucas, Irapuato, and Cuernavaca.

The portfolio is organized across four retail formats: Life Centers (Centros de Vida), Fashion Malls, Power Centers, and Community Centers. Anchor and marquee tenants include Liverpool, Cinépolis, Cinemex, Soriana, Chedraui, Coppel, Sears, Office Depot, H&M, Zara, GAP, Nike, Sanborns, and C&A. Sustainability and ESG investments include solar panel installations across 89% of shopping centers and ongoing community partnerships with organizations such as Greenpeace, UNICEF, Save the Children, and Aldeas Infantiles. Headcount reached 838 employees at year-end 2024, up 46% from 569 in 2023.

Fibra Shop generates revenue primarily through long- and medium-term leasing of retail spaces to multinational retailers, national franchises, SMEs, and government entities. As a regulated FIBRA, it must distribute at least 95% of taxable income to CBFI holders. Reported revenue grew from MXN$1,629.6M in 2022 to MXN$2,530.5M in 2025, with EBITDA reaching MXN$3,348.4M. Leadership — CEO Salvador Cayón Ceballos and CFO Gabriel Ramírez Fernández — has been in place since inception. Recent strategic actions include a MXN$6.6B (~$352M USD) syndicated credit facility from BBVA Mexico and 11 lenders in July 2025 to refinance shopping center development debt, alongside ongoing portfolio expansion and selective divestitures (Kukulcan Plaza and a CDMX property in 2023).

Name

Fibra Shop

Legal name

Fibra Shop

Website

https://fibrashop.mx

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Fibra Shop is a Mexican publicly traded REIT (BMV: FSHOP13) that acquires, develops, leases, and operates commercial shopping centers across Mexico through four formats (Life Centers, Fashion Malls, Power Centers, Community Centers), serving multinational retailers, national franchises, SMEs, and government tenants.

Ownership category

akta.pro rank

Headquarters

HQ city

Cuajimalpa

HQ country

Mexico

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Commercial Property Leasing: FibraShop generates revenue by acquiring, constructing, and operating commercial shopping centers across Mexico. The company leases retail spaces to tenants including multinational retailers (Liverpool, Cinemex), national franchises, SMEs, and government entities. Revenue is derived from long-term and medium-term leases with regular dividend payouts to investors as required by Fibra regulation.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Fibra Shop is the first Mexican Real Estate Investment Trust (FIBRA) specialized in commercial real estate. The company acquires, constructs, owns, leases, and operates a portfolio of shopping centers across Mexico under four distinct formats: Life Centers (Centros de Vida), Fashion Malls, Power Centers, and Community Centers. Revenue is generated primarily by leasing retail space to multinational retailers, national franchises, SMEs, and government entities, with returns delivered to investors through CBFI dividends.

Product overview

Fibra Shop is the first Real Estate Investment Trust (FIBRA) in Mexico specialized in commercial real estate, operating a diversified portfolio of shopping centers across four product formats: Life Centers (Centros de Vida), Fashion Malls, Power Centers, and Community Centers. The portfolio includes 15 named properties across Mexico, ranging from large fashion malls like Las Misiones (172,770 m²) and Galerías Mall Sonora (145,619.3 m²) to compact community centers like Urban Center Jurica (7,196 m² land area). The company focuses on acquiring, constructing, leasing, and operating commercial properties that provide long-term returns to investors through stable rental income and property appreciation.

Differentiator

Problem solved

Functional benefit

Brands

• Centro de Vida (Life Center): Mixed-use shopping center concept combining retail, entertainment, and lifestyle experiences
• Fashion Mall
• Power Center
• Community Center

Products and services

• Life Centers (Centros de Vida)
• Fashion Mall
• Power Center
• Community Center
• Plaza La Luciérnaga
• La Perla
• Cruz del Sur
• Las Misiones
• Galerías Mall Sonora
• Puerto Paraíso
• Puerta La Victoria Fashion mall in Querétaro opened September 22, 2017, featuring German-style arcades, a 120-room hotel, gym, and over 100 stores across 41,255 m².
• Plaza Cibeles Only fashion mall in Irapuato, Guanajuato, with 79,857 m² of leasable space at 99% occupancy with 164 stores, featuring 11.5 million annual visitors.
• Plaza Cedros Power Center strategically located in Cuernavaca, Morelos, offering entertainment, essential goods, and services across 43,830 m².
• Sentura Tlalnepantla Power Center designed for northern State of Mexico, offering fashion, entertainment, restaurants, and high-quality retail across 17,281.80 m².
• Urban Center Jurica Community center in the Querétaro metropolitan area with first-world infrastructure across 7,196 m² of land, featuring 2 levels of construction and open parking at 98% occupancy.

Quantifiable outcome

• Cap rates in the 8.9% to 11.50% range for Mexican shopping centers

Named customers16 records

Segments4 records

Ideal customer profiles2 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered supporting and minor.

• Greenberg TraurigsupportingOthers · 30 July 2025Greenberg Traurig, LLP in Mexico City provided legal counsel to BBVA Mexico and the syndicate of lenders on the MXN$6.6 billion syndicated credit facility transaction.
• AMEFIBRA (Asociación Mexicana de FIBRAS Inmobiliarias)supportingOthersFibraShop participates in AMEFIBRA, the Mexican Association of Real Estate FIBORs, which promotes the Fibra sector and provides training and emissions calculation courses.
• GreenpeaceminorOthersNew partnership established with Greenpeace as part of FibraShop's social responsibility initiatives, inviting the organization to shopping centers to promote environmental initiatives.
• Conexión FundraisingminorOthersNew partnership established with Conexión Fundraising as part of community engagement and social programs.
• UNICEFminorOthersContinuing partnership with UNICEF for social responsibility initiatives, with the organization conducting activities at FibraShop shopping centers.
• Aldeas InfantilesminorOthersContinuing partnership with Aldeas Infantiles (SOS Children's Villages) for community support programs.
• Banco de TapitasminorOthersContinuing partnership with Banco de Tapitas for environmental and social initiatives.
• Save the ChildrenminorOthersContinuing partnership with Save the Children for child welfare and community programs.
• Un Kilo de AyudaminorOthersContinuing partnership with Un Kilo de Ayuda for community support and social programs.

Scale indicators6 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Simon Property Group: Simon Property Group (NYSE: SPG) is the largest US REIT specializing in shopping malls and premium outlets, providing an international comparison for shopping-center operating economics, tenant relationships, and capital structures relevant to Fibra Shop.
• Fibra Macquarie: Fibra Macquarie (BMV: FIBRAMQ12) is a Mexican FIBRA with a diversified industrial, retail, and office portfolio, providing a broad-incumbent comparison for Fibra Shop's commercial real estate focus within the same regulatory and capital markets environment.
• Kimco Realty: Kimco Realty (NYSE: KIM) is a major US shopping center REIT operating open-air shopping centers, providing a useful benchmark for community-center and power-center format economics similar to portions of Fibra Shop's portfolio.
• Federal Realty Investment Trust: Federal Realty (NYSE: FRT) is a US REIT focused on high-quality open-air shopping centers and mixed-use developments, comparable in its mixed-format, community-anchored approach to parts of Fibra Shop's portfolio.

Regional players

• Vesta: Vesta (BMV: VESTA) is a Mexican REIT-like industrial real estate company operating industrial parks and distribution centers across Mexico, sharing the same domestic operating environment and BMV listing context as Fibra Shop.
• Fibra Terrafina: Fibra Terrafina (BMV: TERRA13) is a Mexican FIBRA focused on industrial real estate, sharing the same regulatory framework, exchange listing, and institutional investor base as Fibra Shop, though focused on a different asset class.
• Fibra Inn: Fibra Inn (BMV: FINN13) is a Mexican FIBRA specialized in the hotel sector, sharing the FIBRA regulatory structure, BMV listing, and Mexican real estate investment thesis framework as Fibra Shop, though focused on hospitality assets.
• Fibra Prologis: Fibra Prologis (BMV: FIBRAPL14) is a Mexican industrial-focused FIBRA managed by Prologis, sharing the same Mexican FIBRA regulatory structure and institutional investor base as Fibra Shop, though focused on logistics real estate.

Direct peers

• Fibra Uno: Fibra Uno (BMV: FUNO11) is Mexico's largest REIT with 141 properties covering 2.88M m², the dominant commercial real estate FIBRA in Mexico and the most direct comparable to Fibra Shop's shopping-center-focused model.
• Fibra MTY: Fibra MTY (BMV: FMTY14) is a Mexican FIBRA with a portfolio of industrial and retail properties, comparable in scale and listed-market structure to Fibra Shop.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/fibrashopmexico
• Facebookfacebook.com/FibraShop
• LinkedInlinkedin.com/company/fibrashop

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fibra Shop