Artificial Intelligence
Builders Company
Developers/ARA
A
ARACiudad de México, Mexico · founded 1977 · 1 active markets
PUBLIC LISTED
consorcioara.com.mx

Consorcio ARA designs, promotes, builds, sells and markets social-interest, middle-income and residential housing in Mexico, while also developing and leasing shopping centers. Its customers include households across these segments, with retail visitors served by commercial properties.

Years in business
49
founded 1977
LinkedIn headcount
112
employees, as shown on LinkedIn · size band 1,001–5,000
Total projects
40
across the company’s whole history
Units delivered
405,500
as the company states it
Projects last researched October 11, 2026
Every figure on this card was read out of a document.

Overview

Investor tear sheet

a summary of the tabs that follow · no rating of our own

Company dossier

Legal name
Consorcio ARA, S.A.B. de C.V.1
Headquarters
Javier Barros 5401, Ciudad de México1, Mexico
Founded
19771
Entity type
PUBLIC LISTED
Business model
offplan for sale, commercial
Markets
1 market listed
What they build
Retail (3 of 4) · Residential, for sale (1 of 4)
Full dossier in About →

Delivery record

2 date-assessed of 4 projects
Unverified by developer

AI-researched delivery record, not yet confirmed by the developer. Dates may be approximate; original sources are linked.

Completed projects from 2016-10-15 through 2026-10-15, with sufficient delivery-date evidence. Date assessment and developer profile verification do not mean an independent audit of every source. Original source links and available snippets are provided. May not represent the developer’s full portfolio. 0 undated and 0 boundary-uncertain completions are excluded. Delivery exceptions are listed separately under Projects.
Completed projects assessed
4
within the rolling ten-year window
Median delay
+3.3 mo
the middle of 2 scored projects
Average delay
+3.3 mo
the same projects, pulled by the worst
Average time to deliver
—
2 delivered projects with a dated start — needs 3
Worst slip
+12.0 mo
Centro Las Américas — ampliación · +1.0 to +23.0
1
early or less than 6 months late
6 to 12 months late
1
yellow rows below
Over 12 months late
0
red rows below

Against other developers

2 date-assessed projects here
Not enough info yet.
Projects and timelines in Track Record →

Resident experience

3 of 4 buildings rated · scale 1–10

AI research over published reviews and resident comments. Scores are a model’s reading of opinion, not figures stated on a page, and nothing here feeds any number above it. The links under each block are the pages that research says it used. Based on available resident reviews of covered buildings. These are reported experiences, not independent building inspections, and may not represent all residents or properties.

Overall verdict
7.9/ 10
Weighted judgment across build and operations · from 3 of 3 rated buildings
Little structure evidence (0 of 3 buildings) — this rests mainly on whole-building and living reviews.
Structure & systems
—/ 10
Fabric, services, waterproofing, envelope · from 0 of 3 rated buildings
Management & living
6.6/ 10
Upkeep, response times, amenities, community · from 3 of 3 rated buildings

Against other developers

3 rated here · 10 developers, 34 rated buildings in Mexico
Overall rating
ARA · 10 other developers in Mexico
7.9 vs 8.2
this developer 0.3 worse
The weighted verdict on each side. From 3 of 3 rated buildings here and 34 in the market.
Structure & systems
ARA · 10 other developers in Mexico
— vs —
Too few buildings with this score here to compare (0 of 3)
Fabric and engineering only — fixed at handover. From 0 of 3 rated buildings here and 8 in the market.
Management & living
ARA · 10 other developers in Mexico
6.6 vs 8.0
this developer 1.4 worse
Upkeep and response — belongs to whoever runs the building now. From 3 of 3 rated buildings here and 34 in the market.
The market here is Mexico: every other developer whose head office is in the same country, because the review platforms residents use, and the service norms they judge against, move together within one. It is not a city, a sector or a price band. Read structure and living together. A developer above the market on structure and below it on living builds well and runs buildings badly, which is a fixable problem and a different one from building badly. Higher ratings are better; differences use the displayed scores rounded to one decimal. Rated buildings only, on both sides, and a structure or living score with no stated basis — no review count and no notes or links — is left out of both.
Ratings by building →

Awards & recognition

  • SUSTAINABILITY 2025
    EDGE Champion 2025–2026
    Consorcio ARA reports that IFC recognized it for the second time as an EDGE Champion for its commitment to sustainable construction.
  • SUSTAINABILITY Certified 2025
    Distintivo Empresa Socialmente Responsable (ESR)
    Consorcio ARA reports receiving the ESR distinction from Cemefi for the 19th consecutive year, recognizing responsible economic, social and environmental performance.
    Centro Mexicano para la Filantropía (Cemefi) · https://consorcioara.com.mx/data/images/guaostudio_reporteanual2025.pdf
  • PROJECT AWARD Winner December 2023 (for the 2022 award)
    Premio Nacional de Vivienda 2022 — Promoción de Vivienda Adecuada · Colinas de San José II
    Consorcio ARA received the Premio Nacional de Vivienda 2022 for Colinas de San José II, a completed 424-apartment development in the State of Mexico; the report states that the recognition was received in December 2023.
    SEDATU, in coordination with Infonavit, Fovissste, CONAVI, SHF and INSUS · https://consorcioara.com.mx/data/images/guaostudio_informe-anual-2024.pdf
  • 2 more in Awards
All awards →

Risks & source coverage

  • DELIVERY DELAY Reported August 1, 2026 Residents of the Fuentes de Tizayuca development alleged that newly delivered apartments had interior cracks, parking-space sinkholes, hidden defects and unfinished details, and said Casas ARA was not honoring warranties; the company had not issued a public response when reported.
  • FINANCIAL DISTRESS Rating action dated October 2025; report published September 26, 2025 HR Ratings downgraded Consorcio ARA’s global rating from HR BBB (G) to HR BBB- (G), maintaining a negative outlook, citing lower-than-expected free cash flow, positive net debt, weaker debt-service metrics, higher inventories and increased construction and other costs; the rating report also described refinancing of ARA 23X in 2026 as a projection, not a completed event.
  • LEGAL Reported April 21, 2025; proposed complaint dates April 7–8, 2025 Four contractors reportedly prepared a joint criminal complaint against executives associated with Casas ARA/Consorcio de Ingeniería Integral, alleging that 5% contract-retention funds were withheld after completed work and that approximately MXN 8–9 million remained unpaid; the report said the proposed extortion charge and allegations still required legal corroboration, and described mediation as a possible resolution.
  • 5 more in Risk & Sources
Record status
active
Company sources
87 source entries across 87 fields
Projects tracked
4 · 4 completed in assessment
All flags and sources →

Track Record

Delivery record

2 date-assessed of 4 projects
Unverified by developer

AI-researched delivery record, not yet confirmed by the developer. Dates may be approximate; original sources are linked.

Completed projects from 2016-10-15 through 2026-10-15, with sufficient delivery-date evidence. Date assessment and developer profile verification do not mean an independent audit of every source. Original source links and available snippets are provided. May not represent the developer’s full portfolio. 0 undated and 0 boundary-uncertain completions are excluded. Delivery exceptions are listed separately under Projects.
Completed projects assessed
4
within the rolling ten-year window
Median delay
+3.3 mo
the middle of 2 scored projects
Average delay
+3.3 mo
the same projects, pulled by the worst
Average time to deliver
—
2 delivered projects with a dated start — needs 3
Worst slip
+12.0 mo
Centro Las Américas — ampliación · +1.0 to +23.0
1
early or less than 6 months late
6 to 12 months late
1
yellow rows below
Over 12 months late
0
red rows below

Against other developers

2 date-assessed projects here
Not enough info yet.

Construction start to handover

4 of 4 projects dated · 3 places
Based on covered projects with documented construction or launch dates and available handover dates. Timelines vary by project and may not represent the developer’s full portfolio.
Construction start, or the launchTarget completion (window)Completion or handover, as reportedCurrently statedLaunch year only, no date publishedEarly or ≤6 mo lateOver 6–12 mo lateOver 12 mo lateStalled
Tlalnepantla de Baz, Mexico
Ecatepec, Mexico
Cuautitlán Izcalli, Mexico
201620172018201920202021202220232024202520262027todayTLALNEPANTLA DE BAZ, MEXICOcompleted, no target publishedECATEPEC, MEXICO+12 moverified−5.5 moverifiedCUAUTITLÁN IZCALLI, MEXICOcompleted, no target published
Click a row in the chart to open a project, or a table row below to see its sources. The chart runs wider than the page where the record spans many years — scroll it sideways to follow a project to its handover. Every date we have is drawn. A hollow marker is only a launch year, not a date anyone published. No dates published means we looked and found none; dates not yet checked means we have not looked yet. Handing over is not finished — rows say which. A delay is shown when one source gives the promised date and another gives the real one, however rough: "2019" still counts, and the row shows how wide that is. Projects missing one of the two dates, or with sources that disagree, are left out of the figures. 2 dated statements are held back: a broker listing with no date on it, or a page with no year, cannot fix a date.

Building & Livability Ratings

Resident experience

3 of 4 buildings rated · scale 1–10

AI research over published reviews and resident comments. Scores are a model’s reading of opinion, not figures stated on a page, and nothing here feeds any number above it. The links under each block are the pages that research says it used. Based on available resident reviews of covered buildings. These are reported experiences, not independent building inspections, and may not represent all residents or properties.

Overall verdict
7.9/ 10
Weighted judgment across build and operations · from 3 of 3 rated buildings
Little structure evidence (0 of 3 buildings) — this rests mainly on whole-building and living reviews.
Structure & systems
—/ 10
Fabric, services, waterproofing, envelope · from 0 of 3 rated buildings
Management & living
6.6/ 10
Upkeep, response times, amenities, community · from 3 of 3 rated buildings

Against other developers

3 rated here · 10 developers, 34 rated buildings in Mexico
Overall rating
ARA · 10 other developers in Mexico
7.9 vs 8.2
this developer 0.3 worse
The weighted verdict on each side. From 3 of 3 rated buildings here and 34 in the market.
Structure & systems
ARA · 10 other developers in Mexico
— vs —
Too few buildings with this score here to compare (0 of 3)
Fabric and engineering only — fixed at handover. From 0 of 3 rated buildings here and 8 in the market.
Management & living
ARA · 10 other developers in Mexico
6.6 vs 8.0
this developer 1.4 worse
Upkeep and response — belongs to whoever runs the building now. From 3 of 3 rated buildings here and 34 in the market.
The market here is Mexico: every other developer whose head office is in the same country, because the review platforms residents use, and the service norms they judge against, move together within one. It is not a city, a sector or a price band. Read structure and living together. A developer above the market on structure and below it on living builds well and runs buildings badly, which is a fixable problem and a different one from building badly. Higher ratings are better; differences use the displayed scores rounded to one decimal. Rated buildings only, on both sides, and a structure or living score with no stated basis — no review count and no notes or links — is left out of both.

By building

3 rated · 1 not rated · scale 1–10
ProjectOverallStructure & systemsManagement & living
Centro San Miguel — ampliaciónCuautitlán Izcalli
8.7/ 10
—/ 10
6.7/ 10
Apple Maps 75/100 · 16 reviews · maps.apple.com
Apple Maps 82/100 · 17 reviews · maps.apple.com
Combined from 2 published figures on 1 platform, weighted by review count, adjusted for where resident ratings usually fall and weighted toward the 6.5 midpoint where reviews are few: 6.7.

Apple Maps' 87% overall rating from 23 ratings is the largest and only property-level aggregate rating located, so it sets the level at 8.7/10 on the 100-point scale. The available 75% customer-service and 82% products figures are sub-scores from the same platform and do not create an independent dissent or adjustment; no structural rating or physical-condition evidence was published in the material read.

maps.apple.comperiodicopuntomedio.comcentrosanmiguel.comyelo.com.mx
+ 87% overall rating+ 75% customer-service rating+ 82% products rating+ Expanded and remodeled+ More than 130 tenants reported in 2018

no notes returned

no links returned

Apple Maps reports Centro San Miguel at 87% overall from 23 ratings, with 75% for customer service from 16 ratings and 82% for products from 17 ratings. A contemporaneous October 2018 report described the center as having inaugurated an expansion and remodeling, with a stated total of more than 130 tenants; that is an event-time description, not evidence of current occupancy or condition.

maps.apple.comperiodicopuntomedio.com
Paseo VenturaLas Américas, Ecatepec
7.8/ 10
—/ 10
5.9/ 10
Apple Maps 80/100 · 5 reviews · maps.apple.com
Grupo PARCUM Estacionamiento Paseo Ventura listing 3.4/5 · 54 reviews · exa.ai
Combined from 2 published figures on 2 platforms, weighted by review count, adjusted for where resident ratings usually fall and weighted toward the 6.5 midpoint where reviews are few: 5.9.

The largest published building-level review base is the 4.3/5 aggregate with 17,583 reviews, converted to 7.9/10 under the specified curve. The smaller parking-specific rating and written complaints indicate operational weakness, while the positive convenience/amenity comments partly offset it; no physical-structure evidence was published in the material reviewed.

directmap.mxlocalguideworld.commaps.apple.comexa.aipaseoventura.com
+ Shopping and dining variety+ Entertainment options+ Accessible off-street parking+ Some reports of clean, well-vigilated parking+ Some reports of friendly, fast service
− Parking cashier failures− Vehicle-damage complaint handling− Reported business closures− Intrusive or costly car-wash vendors− Mixed security experience

no notes returned

no links returned

Published reviews describe a convenient lifestyle mix: “dinner, movie and some drinks all in one place,” with off-street parking and, in one parking review, a facility that was “Limpio y bien vigilado.” The operational picture is mixed: two reviews say the parking cashiers do not work, while another alleges poor handling after vehicle damage; these are parking/management reports, not evidence of structural defects.

localguideworld.comexa.aimaps.apple.com
Centro Las Américas — ampliaciónEcatepec
7.2/ 10
—/ 10
7.2/ 10

The Google-linked aggregate of 4.3/5 from 71,981 reviews is the anchor and converts to 7.9/10 under the supplied curve. The smaller Foursquare result is materially lower but cannot overturn the anchor; documented parking problems and serious incidents justify a cautious reduction, producing 7.2/10. No separately published structure rating was found, so structure remains null.

directmap.mxmaps.apple.commx.toponavi.comlasillarota.comconsorcioara.com.mx
+ Instalaciones amplias+ Ampliación/remodelación visible en reseñas+ Pasillos y accesos reportados como limpios
− Incendio que afectó cuatro locales− Posible corto circuito reportado preliminarmente− Baches− Calor interior
+ Variedad de tiendas+ Restaurantes y comida+ Opciones de entretenimiento+ Agradable para pasear en familia+ Buena accesibilidad reportada
− Estacionamiento problemático− Demoras en caja/validación del estacionamiento− Vigilancia cuestionada− Zona de comida pequeña para el flujo− Afluencia y saturación en fines de semana

La evidencia física no es una inspección técnica: una nota de octubre de 2024 reportó un incendio que afectó cuatro locales, intoxicó a 15 personas y mantuvo cerrada preventivamente el área comercial; el origen preliminar fue un corto circuito. En las reseñas se leen observaciones menores como “Baches” y que el lugar puede ser “very hot”, mientras otra reseña menciona que la plaza está ampliada y que sus pasillos y accesos son muy limpios.

lasillarota.commaps.apple.commx.toponavi.com

La experiencia cotidiana publicada es generalmente positiva en oferta y uso familiar: las reseñas hablan de “muchas tiendas”, restaurantes, cine y de un lugar “para comer y pasar un momento muy agradable”. Las quejas operativas se concentran en el estacionamiento —“puedes tardar hasta 30 min”— y en vigilancia/organización, además de una nota de 2024 que documentó el cierre preventivo del área comercial tras un incendio.

maps.apple.commx.toponavi.comlasillarota.com
Only buildings that have reached handover are rated. 1 of 4 projects carries no rating: a building still under construction is never asked about, one that has just been handed over may not have been reached yet, and the rest were asked about and no published resident commentary was found. Structure is fixed at handover and stays the developer's; management and living belongs to whoever runs the building now. The overall verdict weights both rather than averaging them. None of this is checked: a rating is what people published about a building, aggregated — it is not evidence, it cannot move a delay figure, and it is not part of the delivery record above.

About

Company dossier

Legal name
Consorcio ARA, S.A.B. de C.V.
Headquarters
Javier Barros 540, Ciudad de México, Mexico
Santa Fe · 01210
Founded
1977
Mexico
Entity type
PUBLIC LISTED
Revenue
MXN 8254.6 million pesos
2025
Business model
offplan for sale, commercial

Partners

6 partners
Vivienda y Entorno Sustentable (VESAC)
partner

ARA is a member of this civil association coordinating sustainable housing policy with government housing institutions and developers.

Comisión Nacional de Vivienda (CONAVI)
government partner

Participates in VESAC, which coordinates housing-policy actors.

INFONAVIT
funder

Participates in VESAC as a housing-finance institution.

FOVISSSTE
funder

Participates in VESAC as a housing-finance institution.

Sociedad Hipotecaria Federal
funder

Participates in VESAC as a housing-finance institution.

Artha Capital
joint venture

Holds the remaining 50% of Paseo Ventura with ARA.

Registrations & licences

COMPANY NUMBER116,435
Registro Público de Comercio del Distrito Federal · Mexico · active
Jurisdiction-agnostic: a DLD number, a Companies House number and a state RERA registration all land in the same table.

Contact

Markets

1 countries
Mexicoactive 4 projects tracked

What they build

2 types
Retail3 of 4
Residential, for sale1 of 4
A project counts once under each type it carries, so the shares add to more than the project count.

Management

Principals & executives

6 names found
GA
Germán Ahumada Alduncin
He is Consorcio ARA’s current board chair and is also identified as chairman and general director of Dewa. Independent reporting describes more than 20 years of experience in strategic planning and operations in real estate, venture capital and technology, with postgraduate study at Wharton and Stanford.
Current title
President of the Board of Directors
since 2025
Experience
20+ years real estate
Companies before
none sourced
Education
Wharton School of Management
Stanford University
Other boards
Chairman of the Board and General Director, Dewa
Known for
Board chairDewa chair and CEOWhartonStanford

Sources: education

PRESS2025-10-16

“Find Your Happiness”: Mexican Entrepreneur Germán Ahumada Alduncin Shares the Keys to Personal Growth in the Creesiendo Podcast

Storybench
degrees from the Wharton School of Management and Stanford University
value seen: degrees from the Wharton School of Management and Stanford University
value paraphrased from this source
https://www.storybench.org/find-your-happiness-mexican-entrepreneur-german-ahumada-alduncin-shares-the-keys-to-personal-growth-in-the-creesiendo-podcast/

Sources: full name

COMPANYdate not shown in source

Inicio | Consorcio ARA

Consorcio ARA
Germán Ahumada Alduncin ■ ● Presidente
value seen: Germán Ahumada Alduncin
https://consorcioara.com.mx/corporativo/consejo-comites

Sources: other boards

COMPANYdate not shown in source

Evolucionar para trascender

Consorcio ARA
Germán Ahumada Alduncin Presidente del Consejo de Administración en Consorcio ARA y Presidente del Consejo de Administración y Director General en Dewa
value seen: Presidente del Consejo de Administración y Director General en Dewa
value paraphrased from this source
https://consorcioara.com.mx/data/images/guaostudio_reporteanual2025.pdf

Sources: since

REGULATOR2025-04-25

CONSORCIO ARA anuncia cambios en su Consejo de Administración

Bolsa Mexicana de Valores · carried by bmv.com.mx
Ciudad de México, a 25 de abril de 2025 ... se aprobó el nombramiento de Germán Ahumada Alduncin como Presidente del Consejo
value seen: 2025
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1458009_1.pdf

Sources: summary

PRESS2025-10-16

“Find Your Happiness”: Mexican Entrepreneur Germán Ahumada Alduncin Shares the Keys to Personal Growth in the Creesiendo Podcast

Storybench
After more than 20 years of professional experience in the strategic planning and operation of the real estate sector, degrees from the Wharton School of Management and Stanford University, and success as a venture capitalist and entrepreneur
value seen: After more than 20 years of professional experience in the strategic planning and operation of the real estate sector
value paraphrased from this source
https://www.storybench.org/find-your-happiness-mexican-entrepreneur-german-ahumada-alduncin-shares-the-keys-to-personal-growth-in-the-creesiendo-podcast/

Sources: tags

PRESS2025-10-16

“Find Your Happiness”: Mexican Entrepreneur Germán Ahumada Alduncin Shares the Keys to Personal Growth in the Creesiendo Podcast

Storybench
degrees from the Wharton School of Management and Stanford University
value seen: degrees from the Wharton School of Management and Stanford University
value paraphrased from this source
https://www.storybench.org/find-your-happiness-mexican-entrepreneur-german-ahumada-alduncin-shares-the-keys-to-personal-growth-in-the-creesiendo-podcast/

Sources: title

REGULATOR2025-04-25

CONSORCIO ARA anuncia cambios en su Consejo de Administración

Bolsa Mexicana de Valores · carried by bmv.com.mx
se aprobó el nombramiento de Germán Ahumada Alduncin como Presidente del Consejo
value seen: Presidente
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1458009_1.pdf
GA
Germán Ahumada Russek
Founder of Consorcio ARA, he led the Housing Division for almost 48 years before moving to the honorary board role in 2025. His operating record includes navigating the 1995 crisis and expanding ARA across social, middle-market and residential housing, as well as shopping centers.
Current title
Honorary President of the Board of Directors
since 2025
Experience
no career length stated
Companies before
none sourced
Education
Universidad IberoamericanaCivil Engineering
St. John’s University, Minnesota
Other boards
none sourced
Known for
FounderHonorary board chairCivil engineer48-year housing leadershipDiversification
If something is constant in our industry, it is that everything keeps changing. El Economista June 2022https://www.eleconomista.com.mx/econohabitat/german-ahumada-deja-direccion-vivienda-consorcio-ara-20241211-737845.html
We tried to raise funds in the market through a public offering. I remember that we went to New York looking for investors and, as they received us, they immediately showed us the exit. El Economista https://www.eleconomista.com.mx/econohabitat/german-ahumada-deja-direccion-vivienda-consorcio-ara-20241211-737845.html

Sources: education

COMPANYdate not shown in source

Diapositiva 1

Consorcio ARA
El Ingeniero Ahumada cuenta con un título en Ingeniería Civil por la Universidad Iberoamericana y cursó estudios en St. John’s University en Minnesota.
value seen: título en Ingeniería Civil por la Universidad Iberoamericana y cursó estudios en St. John’s University en Minnesota
value paraphrased from this source
https://consorcioara.com.mx/data/images/guaostudio_1presentacion-corporativa-agosto-2023.pdf

Sources: full name

COMPANYdate not shown in source

Inicio | Consorcio ARA

Consorcio ARA
Germán Ahumada Russek ■ ● Presidente Honorario
value seen: Germán Ahumada Russek
https://consorcioara.com.mx/corporativo/consejo-comites

Sources: quotes

PRESS2024-12-11

El fin de una era: Germán Ahumada deja dirección de Vivienda de Consorcio ARA

El Economista
“Si algo hay constante en nuestra industria es que todo va cambiando”, así lo dijo el empresario a Econohábitat en junio del 2022
value seen: Si algo hay constante en nuestra industria es que todo va cambiando
https://www.eleconomista.com.mx/econohabitat/german-ahumada-deja-direccion-vivienda-consorcio-ara-20241211-737845.html

Sources: quotes

PRESS2024-12-11

El fin de una era: Germán Ahumada deja dirección de Vivienda de Consorcio ARA

El Economista
“Intentamos ir por recursos al mercado a través de una oferta pública de acciones. Recuerdo que fuimos a Nueva York en búsqueda de inversionistas y, así como nos recibían, enseguida nos enseñaban la salida. Fue un tiempo complicado y cuidábamos cada peso”
value seen: Intentamos ir por recursos al mercado a través de una oferta pública de acciones
https://www.eleconomista.com.mx/econohabitat/german-ahumada-deja-direccion-vivienda-consorcio-ara-20241211-737845.html

Sources: since

REGULATOR2025-04-25

CONSORCIO ARA anuncia cambios en su Consejo de Administración

Bolsa Mexicana de Valores · carried by bmv.com.mx
Ciudad de México, a 25 de abril de 2025 ... Germán Ahumada Russek como Presidente honorario
value seen: 2025
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1458009_1.pdf

Sources: summary

REGULATOR2024-12-10

ARA informa designación de nuevo Director General

Bolsa Mexicana de Valores · carried by bmv.com.mx
en sustitución del Ing. Germán Ahumada Russek, quien por casi 48 años estuvo al frente de la misma
value seen: sustitución del Ing. Germán Ahumada Russek, quien por casi 48 años estuvo al frente de la misma
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1425644_1.pdf

Sources: tags

COMPANYdate not shown in source

Diapositiva 1

Consorcio ARA
El Ingeniero Germán Ahumada Russek es Presidente del Consejo de Administración y Director General de Consorcio ARA, además de ser socio fundador de la Compañía.
value seen: socio fundador de la Compañía
value paraphrased from this source
https://consorcioara.com.mx/data/images/guaostudio_1presentacion-corporativa-agosto-2023.pdf

Sources: title

REGULATOR2025-04-25

CONSORCIO ARA anuncia cambios en su Consejo de Administración

Bolsa Mexicana de Valores · carried by bmv.com.mx
se aprobó el nombramiento de Germán Ahumada Alduncin como Presidente del Consejo, y Germán Ahumada Russek como Presidente honorario
value seen: Presidente honorario
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1458009_1.pdf
LF
Luis Felipe Ahumada Russek
He is a related, patrimonial board member, co-founder and executive responsible for ARA’s shopping-center division. The 2025 annual report credits him with more than four decades at the company and with financial-governance experience through several Mexican financial-group boards.
Current title
Vice President of the Board of Directors and General Director of the Shopping Centers Division
Experience
40+ years at ara
Companies before
Grupo Financiero Invermexico, S.A. de C.V.Grupo Financiero Bancrecer Banoro, S.A. de C.V.Grupo Coditec, S.A. de C.V.Promar Construcciones, S.A. de C.V.Servicios Financieros Quádrum, S.A.Grupo Financiero Serfin, S.A. de C.V.
Education
Universidad Nacional Autónoma de México
Other boards
Director, SmartboxTV, S.A.President and General Director, Promotora y Desarrolladora de Centros Comerciales, S.A. de C.V.President and General Manager, Lógica Industrial, S.A. de C.V.
Known for
Co-founderVice chairShopping centersFinancial-sector boards

Sources: education

DIRECTORYdate not shown in source

Luis Felipe Ahumada Russek: Postes, Relations & Réseau

Zonebourse Suisse
He completed his undergraduate degree from Universidad Nacional Autónoma de México.
value seen: undergraduate degree from Universidad Nacional Autónoma de México
value paraphrased from this source
https://ch.zonebourse.com/insider/LUIS-FELIPE-AHUMADA-RUSSEK-A052G6/

Sources: full name

COMPANYdate not shown in source

Inicio | Consorcio ARA

Consorcio ARA
Luis Felipe Ahumada Russek ■ ● Vicepresidente
value seen: Luis Felipe Ahumada Russek
https://consorcioara.com.mx/corporativo/consejo-comites

Sources: other boards

DIRECTORYdate not shown in source

Luis Felipe Ahumada Russek: Postes, Relations & Réseau

Zonebourse Suisse
Luis Felipe Ahumada Russek is currently holding positions in Consorcio ARA SAB de CV as Co-Vice Chairman & CEO-Shopping Malls Division, SmartboxTV SA as Director, Promotora y Desarrolladora de Centros Comerciales SA de CV as President & General Director, and Lógica Industrial SA de CV as President & General Manager.
value seen: currently holding positions in Consorcio ARA SAB de CV as Co-Vice Chairman & CEO-Shopping Malls Division, SmartboxTV SA as Director, Promotora y Desarrolladora de Centros Comerciales SA de CV as President & General Director, and Lógica Industrial SA de CV as President & General Manager
value paraphrased from this source
https://ch.zonebourse.com/insider/LUIS-FELIPE-AHUMADA-RUSSEK-A052G6/

Sources: previous companies

DIRECTORYdate not shown in source

Luis Felipe Ahumada Russek: Postes, Relations & Réseau

Zonebourse Suisse
In the past, he worked as a Director in Grupo Financiero Invermexico SA de CV, Grupo Financiero Bancrecer Banoro SA de CV, Grupo Coditec SA de CV, Promar Construcciones SA de CV, Servicios Financieros Quádrum SA, and as a Member-Metropolitan Council in Grupo Financiero Serfin SA de CV.
value seen: Grupo Financiero Invermexico SA de CV ... Grupo Financiero Bancrecer Banoro SA de CV ... Grupo Financiero Serfin SA de CV
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://ch.zonebourse.com/insider/LUIS-FELIPE-AHUMADA-RUSSEK-A052G6/

Sources: summary

COMPANYdate not shown in source

Evolucionar para trascender

Consorcio ARA
Cuenta con una trayectoria de más de cuatro décadas en la Compañía, desempeñando un papel clave en la dirección estratégica de la División de Centros Comerciales.
value seen: Cuenta con una trayectoria de más de cuatro décadas en la Compañía
value paraphrased from this source
https://consorcioara.com.mx/data/images/guaostudio_reporteanual2025.pdf

Sources: tags

COMPANYdate not shown in source

Evolucionar para trascender

Consorcio ARA
Es Vicepresidente del Consejo de Administración y socio fundador, con amplia experiencia en gobernanza corporativa y liderazgo financiero
value seen: socio fundador
value paraphrased from this source
https://consorcioara.com.mx/data/images/guaostudio_reporteanual2025.pdf

Sources: title

COMPANYdate not shown in source

Evolucionar para trascender

Consorcio ARA
Luis Felipe Ahumada Russek Vicepresidente del Consejo de Administración y Director General de la División de Centros Comerciales en Consorcio ARA
value seen: Vicepresidente del Consejo de Administración y Director General de la División de Centros Comerciales
value paraphrased from this source
https://consorcioara.com.mx/data/images/guaostudio_reporteanual2025.pdf
MG
Miguel Guillermo Lozano Pardinas
He runs ARA’s Housing Division and was appointed in December 2024 to replace Germán Ahumada Russek. A civil engineer from UNAM, he joined ARA in 2007 after senior construction roles at Grupo Metropolitano DeMet, Grupo BAIA and Grupo Elefante, and has held operating, construction and corporate-management posts inside ARA.
Current title
General Director of the Housing Division
since 10 December 2024
Experience
20+ years housing industry
Companies before
Grupo Metropolitano DeMetGrupo BAIA, S.A. de C.V.Grupo Elefante, S.A. de C.V.
Education
Universidad Nacional Autónoma de MéxicoCivil Engineering
Other boards
none sourced
Known for
Housing division headCivil engineerUNAMOperations and construction

Sources: education

REGULATOR2024-12-10

ARA informa designación de nuevo Director General

Bolsa Mexicana de Valores · carried by bmv.com.mx
Miguel Lozano es Ingeniero Civil, egresado de la Universidad Nacional Autónoma de México
value seen: Civil Engineer from UNAM
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1425644_1.pdf

Sources: full name

REGULATOR2024-12-10

ARA informa designación de nuevo Director General

Bolsa Mexicana de Valores · carried by bmv.com.mx
ARA anuncia que su Consejo de Administración ha designado al Ing. Miguel Guillermo Lozano Pardinas
value seen: Miguel Guillermo Lozano Pardinas
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1425644_1.pdf

Sources: previous companies

COMPANYdate not shown in source

Diapositiva 1

Consorcio ARA
Previously he was Director of Construction at Grupo Metropolitano DeMet from 1997-2007; at Grupo BAIA, S.A. de C.V. from 1995 to 1996; and at Grupo Elefante, S.A. de C.V. from 1972-1995.
value seen: Grupo Metropolitano DeMet ... Grupo BAIA ... Grupo Elefante
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://consorcioara.com.mx/data/images/guaostudio_1presentacion-corporativa-agosto-2023.pdf

Sources: since

REGULATOR2024-12-10

ARA informa designación de nuevo Director General

Bolsa Mexicana de Valores · carried by bmv.com.mx
Ciudad de México, a 10 de diciembre de 2024 - Consorcio ARA ... ha designado al Ing. Miguel Guillermo Lozano Pardinas, como nuevo Director General de la División Vivienda
value seen: 10 de diciembre de 2024
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1425644_1.pdf

Sources: summary

REGULATOR2024-12-10

ARA informa designación de nuevo Director General

Bolsa Mexicana de Valores · carried by bmv.com.mx
Miguel Lozano es Ingeniero Civil, egresado de la Universidad Nacional Autónoma de México, y desde su ingreso a ARA en 2007 ha ocupado diversos puestos directivos.
value seen: Miguel Lozano es Ingeniero Civil, egresado de la Universidad Nacional Autónoma de México, y desde su ingreso a ARA en 2007 ha ocupado diversos puestos directivos
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1425644_1.pdf

Sources: tags

REGULATOR2024-12-10

ARA informa designación de nuevo Director General

Bolsa Mexicana de Valores · carried by bmv.com.mx
Cuenta con una amplia experiencia en el sector, por lo que estamos seguros de que su visión estratégica y habilidades en gestión, serán fundamentales
value seen: amplia experiencia en el sector
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1425644_1.pdf

Sources: title

REGULATOR2024-12-10

ARA informa designación de nuevo Director General

Bolsa Mexicana de Valores · carried by bmv.com.mx
como nuevo Director General de la División Vivienda
value seen: Director General de la División Vivienda
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1425644_1.pdf
FD
Felipe de Jesús Loera Reyna
He joined ARA as CFO in January 2025 after more than 17 years in the finance function of public housing developer Javer, progressing from controller to director of administration and finance. His stated track record includes an IPO, international capital-markets financing, syndicated loans and debt restructuring.
Current title
CFO
since 16 January 2025
Experience
17+ years housing finance
Companies before
Servicios Corporativos Javer, S.A.B. de C.V.
Education
Universidad Autónoma de Nuevo LeónAccounting
Universidad de MonterreyMaster of Business Administration
IPADED1 Senior Management Diploma
Other boards
none sourced
Known for
CFOEx-JaverCapital marketsDebt restructuringMBA
https://linkedin.com/in/felipe-loera-3563aa80

Sources: education

REGULATOR2025-01-16

CONSORCIO ARA anuncia la incorporación de Felipe Loera como CFO

Bolsa Mexicana de Valores · carried by bmv.com.mx
Tiene un título en Contabilidad por la Universidad Autónoma de Nuevo León (UANL), así como una Maestría en Administración de Empresas por la Universidad de Monterrey (UDEM). Además, cuenta con el Diplomado de Alta Dirección D1 por parte del IPADE.
value seen: título en Contabilidad por la Universidad Autónoma de Nuevo León (UANL), así como una Maestría en Administración de Empresas por la Universidad de Monterrey (UDEM). Además, cuenta con el Diplomado de Alta Dirección D1 por parte del IPADE
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1434892_1.pdf

Sources: full name

REGULATOR2025-01-16

CONSORCIO ARA anuncia la incorporación de Felipe Loera como CFO

Bolsa Mexicana de Valores · carried by bmv.com.mx
anuncia la incorporación del C.P. Felipe de Jesús Loera Reyna como CFO
value seen: Felipe de Jesús Loera Reyna
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1434892_1.pdf

Sources: previous companies

REGULATOR2025-01-13

Javer anuncia cambios en la Dirección de Administración y Finanzas

Bolsa Mexicana de Valores · carried by bmv.com.mx
el C.P. Felipe de Jesús Loera Reyna, Director de Administración y Finanzas, por así convenir a sus intereses, ha decidido retirarse de la Compañía
value seen: Servicios Corporativos Javer, S.A.B. de C.V.
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1433910_1.pdf

Sources: since

REGULATOR2025-01-16

CONSORCIO ARA anuncia la incorporación de Felipe Loera como CFO

Bolsa Mexicana de Valores · carried by bmv.com.mx
Ciudad de México, a 16 de enero de 2025 - Consorcio ARA ... anuncia la incorporación del C.P. Felipe de Jesús Loera Reyna como CFO
value seen: 16 de enero de 2025
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1434892_1.pdf

Sources: summary

REGULATOR2025-01-16

CONSORCIO ARA anuncia la incorporación de Felipe Loera como CFO

Bolsa Mexicana de Valores · carried by bmv.com.mx
Felipe cuenta con una amplia experiencia en nuestro sector, por más de diecisiete años se desempeñó en el área financiera de una empresa pública desarrolladora de vivienda.
value seen: por más de diecisiete años se desempeñó en el área financiera de una empresa pública desarrolladora de vivienda
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1434892_1.pdf

Sources: tags

REGULATOR2025-01-16

CONSORCIO ARA anuncia la incorporación de Felipe Loera como CFO

Bolsa Mexicana de Valores · carried by bmv.com.mx
por más de diecisiete años se desempeñó en el área financiera de una empresa pública desarrolladora de vivienda
value seen: por más de diecisiete años
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1434892_1.pdf

Sources: title

REGULATOR2025-01-16

CONSORCIO ARA anuncia la incorporación de Felipe Loera como CFO

Bolsa Mexicana de Valores · carried by bmv.com.mx
Felipe de Jesús Loera Reyna como CFO
value seen: CFO
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1434892_1.pdf
AE
Alicia Enriquez Pimentel
She leads administration and finance for ARA’s Housing Division and reports to the CFO. She joined ARA in 2002, moved into investor relations in 2009, led that area from 2014 to June 2017, and then worked on debt, credit-rating and securities issuance initiatives.
Current title
Director of Administration and Finance
since March 2021
Experience
23+ years at ara
Companies before
none sourced
Education
not published
Other boards
none sourced
Known for
FinanceInvestor relationsDebt financingPublic-company reporting
Work email: aenriquez@ara.com.mx1 Email
https://mx.linkedin.com/in/alicia-enriquez-pimentel-7453441b

Sources: email

COMPANYdate not shown in source

Inicio | Consorcio ARA

Consorcio ARA
Alicia Enriquez Pimentel aenriquez@ara.com.mx
value seen: aenriquez@ara.com.mx
https://consorcioara.com.mx/corporativo/equipo-directivo

Sources: full name

COMPANYdate not shown in source

Inicio | Consorcio ARA

Consorcio ARA
Alicia Enriquez Pimentel
value seen: Alicia Enriquez Pimentel
https://consorcioara.com.mx/corporativo/equipo-directivo

Sources: linkedin page

SOCIAL2026-09-19

Alicia Enriquez Pimentel

LinkedIn
Alicia Enriquez Pimentel
value seen: https://mx.linkedin.com/in/alicia-enriquez-pimentel-7453441b
https://mx.linkedin.com/in/alicia-enriquez-pimentel-7453441b

Sources: since

COMPANYdate not shown in source

Diapositiva 1

Consorcio ARA
A partir de marzo de 2021 se desempeña como Directora General Adjunta de Administración y Finanzas.
value seen: A partir de marzo de 2021
value paraphrased from this source
https://consorcioara.com.mx/data/images/guaostudio_1presentacion-corporativa-agosto-2023.pdf

Sources: summary

REGULATOR2025-01-16

CONSORCIO ARA anuncia la incorporación de Felipe Loera como CFO

Bolsa Mexicana de Valores · carried by bmv.com.mx
Alicia tiene una sólida trayectoria de casi 23 años en la empresa, y se ha destacado por su participación en la Oferta Secundaria de acciones de ARA, en la emisión de certificados bursátiles, lo que permitió mejorar las condiciones de la deuda y el perfil de vencimientos, la obtención de calificaciones crediticias
value seen: Alicia has a solid track record of nearly 23 years at the company
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1434892_1.pdf

Sources: tags

REGULATOR2025-01-16

CONSORCIO ARA anuncia la incorporación de Felipe Loera como CFO

Bolsa Mexicana de Valores · carried by bmv.com.mx
Alicia tiene una sólida trayectoria de casi 23 años en la empresa, y se ha destacado por su participación en la Oferta Secundaria de acciones de ARA, en la emisión de certificados bursátiles
value seen: participación en la Oferta Secundaria de acciones de ARA, en la emisión de certificados bursátiles
value paraphrased from this source
https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1434892_1.pdf

Sources: title

COMPANYdate not shown in source

Inicio | Consorcio ARA

Consorcio ARA
Alicia Enriquez Pimentel Directora de Administración y Finanzas
value seen: Directora de Administración y Finanzas
https://consorcioara.com.mx/corporativo/equipo-directivo

Projects

Assessment coverage

Completed projects: 2016-10-15 through 2026-10-15. Initial research is capped at 10 completed projects and a separate delivery-risk search capped at 7 findings. Risk findings are not project assessment counts. Absence is not proof of a complete portfolio or no failures. Month-level dates overlapping a boundary are excluded from figures.

0 undated completions and 0 boundary-uncertain completions are retained but excluded from figures.

Stalled, cancelled & overdue projects

0 evidenced cases
The capped delivery-risk search ran; no project-level exception cases are recorded here. Risk findings are listed under Risks and are separate from assessed projects. This does not establish that the developer has no delivery failures.

Completed projects

4 projects
ProjectLocationTypeUnitsFloorsAreaCostPayment planLaunchedConstruction startOriginal targetHandoverDelayConfidenceStatus
Colinas de San José IITlalnepantla de Baz, Mexico
Colinas de San José		residential for sale4241———————Feb 2024—not scorablecompleted
Centro Las Américas — ampliaciónEcatepec, Mexico
retail———MXN 850m
other		—2018segundo semestre de 2018Jan 2020 – Dec 2020Jan 2021 – Dec 2021+12.0 mo
(+1.0 to +23.0)		sourcedcompleted
Centro San Miguel — ampliaciónCuautitlán Izcalli, Mexico
retail———MXN 352m
other		—20172017—Jan 2018 – Dec 2018—not scorablecompleted
Paseo VenturaEcatepec, Mexico
Las Américas		retail—————201627/09/2016Dec 2017Jan 2017 – Dec 2017−5.5 mo
(−11.0 to 0.0)		sourcedcompleted
Click any row for the sources behind it. Cost basis matters: an estimated cost, a construction loan and a sale price are different numbers. Each row states which one it is, so they are never averaged together.

Awards

Awards & recognition

5 found
SUSTAINABILITY 2025
EDGE Champion 2025–2026
Consorcio ARA reports that IFC recognized it for the second time as an EDGE Champion for its commitment to sustainable construction.
SUSTAINABILITY Certified 2025
Distintivo Empresa Socialmente Responsable (ESR)
Consorcio ARA reports receiving the ESR distinction from Cemefi for the 19th consecutive year, recognizing responsible economic, social and environmental performance.
Centro Mexicano para la Filantropía (Cemefi) · https://consorcioara.com.mx/data/images/guaostudio_reporteanual2025.pdf
PROJECT AWARD Winner December 2023 (for the 2022 award)
Premio Nacional de Vivienda 2022 — Promoción de Vivienda Adecuada · Colinas de San José II
Consorcio ARA received the Premio Nacional de Vivienda 2022 for Colinas de San José II, a completed 424-apartment development in the State of Mexico; the report states that the recognition was received in December 2023.
SEDATU, in coordination with Infonavit, Fovissste, CONAVI, SHF and INSUS · https://consorcioara.com.mx/data/images/guaostudio_informe-anual-2024.pdf
PROJECT AWARD Winner 2016
Premio Nacional de Vivienda 2016 · Misión de las Flores III
Consorcio ARA reports receiving the 2016 Premio Nacional de Vivienda in the Social Interest category for Misión de las Flores III in Solidaridad, Quintana Roo.
PROJECT AWARD Finalist November 25, 2023 (announcement)
Premio Nacional de la Vivienda 2023 finalist
A 2023 announcement identifies Casas ARA as a finalist for the Premio Nacional de Vivienda, which recognizes practices in Mexican housing production; finalist status is not a win.

Risks

Auditor & credit ratings

3 agencies
AuditorDeloitte
S&P Global RatingsmxAA- stable outlook · 30-Apr-2025
HR RatingsHR AA stable outlook · 31-Aug-2026
Fitch RatingsA+(mex) stable outlook · 27-Feb-2026

Risk flags

8 found
DELIVERY DELAY Reported August 1, 2026
Residents of the Fuentes de Tizayuca development alleged that newly delivered apartments had interior cracks, parking-space sinkholes, hidden defects and unfinished details, and said Casas ARA was not honoring warranties; the company had not issued a public response when reported.
FINANCIAL DISTRESS Rating action dated October 2025; report published September 26, 2025
HR Ratings downgraded Consorcio ARA’s global rating from HR BBB (G) to HR BBB- (G), maintaining a negative outlook, citing lower-than-expected free cash flow, positive net debt, weaker debt-service metrics, higher inventories and increased construction and other costs; the rating report also described refinancing of ARA 23X in 2026 as a projection, not a completed event.
LEGAL Reported April 21, 2025; proposed complaint dates April 7–8, 2025
Four contractors reportedly prepared a joint criminal complaint against executives associated with Casas ARA/Consorcio de Ingeniería Integral, alleging that 5% contract-retention funds were withheld after completed work and that approximately MXN 8–9 million remained unpaid; the report said the proposed extortion charge and allegations still required legal corroboration, and described mediation as a possible resolution.
DELIVERY DELAY Reported July 31, 2023; residents said the first occupant arrived in 2017
Residents of Torres Argos alleged that Casas ARA-related administration had not delivered common areas and that one tower remained only at shell construction six years after the first resident moved in; they also reported defective infrastructure, abandoned gardens and parking areas, and sought municipal and state assistance.
DELIVERY DELAY Reported June 4, 2021; residents said repair demands had continued for 15 months
More than 50 Cancun-area families alleged that Casas ARA had delivered homes late and with defects including uneven floors and water leaks, and said they had spent about 15 months seeking repairs without a response; the account records the residents’ allegations and a protest at Profeco, not an adjudicated finding against the company.
DELIVERY DELAY 12 February 2019 publication; underlying complaints from 2010 and collective action filed in 2012
Casas ARA faced a nationwide collective-consumer judgment after Profeco documented late delivery of homes and non-conformity with the conditions, quality and characteristics offered; ARA stated that the ruling covered qualifying purchases made from 2010 through March 2012 and that affected consumers had to pursue the benefits individually, so the source establishes historical material failures and a judgment—not an active current delivery backlog.
REGULATORY 6 November 2018 event/report
The Consorcio ARA project at Paseos Xcacel in Playa del Carmen had a portion of its works suspended while municipal authorities assessed reported filling of a cenote, required a soil-mechanics report and considered whether construction should continue; the report does not establish a final cancellation or later resolution.
DELIVERY DELAY 23 September 2013 report; older unresolved material failure, outside the rolling window but retained as requested
Residents of Consorcio ARA’s Las Américas development in Ecatepec reported that, roughly a decade after homes were delivered, ARA had still not delivered approximately 5,400 square metres of promised urban equipment and had not formally handed over the development, leaving public-service and maintenance obligations unresolved in the contemporaneous report.

Record status

active
Coverageactive
Tracked sinceOctober 11, 2026
Last checkedOctober 11, 2026 this month
Profile last researchedOctober 11, 2026
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For informational purposes only. This information is not investment, financial or credit advice and should not be relied on for investment, lending or credit decisions. Records may be incomplete or outdated. Verify information independently and seek qualified advice before making a decision.