Costco Plans 2nd Store in Yucatán, State Official Confirms
Costco is planning a second store in Yucatán, according to the state’s top economic official.
Yucatán Secretary of Economy and Labor Ermilo Barrera Novelo said negotiations with the U.S. warehouse retailer are well underway. He said the state government is helping the company finalize the project in the near future.
Neither Barrera Novelo nor Costco has confirmed a site, an investment figure, or an opening date. Unofficial reports point to Conkal, a fast-growing municipality just north of Mérida. Its residential boom and room for new real estate development are said to be behind the choice.
Signs of interest have been building for weeks. In early September, word got out that Costco executives had visited Mérida. Later that month, the company said it plans to open one new warehouse in Mexico during its 2027 fiscal year. It did not name the city.
That store is part of a wider global push. Costco closed its 2026 fiscal year Aug. 30 with 939 warehouses worldwide and expects to open about 33 more in the coming year, including five in Canada and four in Europe. It plans to spend roughly US$7.5 billion, mostly on new stores and its supply chain.
Mexico has 43 Costco locations. The newest, in General Escobedo, Nuevo León, is billed as the chain’s largest in Latin America. Another in Corregidora, Querétaro, has been slated to open in late October.
One store, long lines
For now, Yucatán has just one Costco. The club spent about 20 years in a rented building on Calle 60 north before moving in 2015 to a US$40 million store on the former Cordemex factory property, on the road to Progreso.
That store is known for an unusual feature: a parking lot cenote. The sinkhole turned up during construction, and the developer chose to landscape it rather than fill it in.
It is also known for crowds. Long lines at the entrance and checkout are common, especially around the holidays, when seasonal items such as rosca de reyes sell out fast.
Talk of a second Yucatán store is not new. As recently as late 2025, reports suggested the company’s next Peninsula location would more likely land in Playa del Carmen, in neighboring Quintana Roo. At the time, Costco Mexico’s finance chief, Mauricio Talayero, pointed to the Peninsula as a market where the chain’s model has proven profitable.
Rival Sam’s Club, owned by Walmart, already operates several stores in the Mérida area.
Why Conkal
Conkal sits on Mérida’s northern edge, near Cholul and the Altabrisa area. Once a quiet farming town, it has become one of the busiest real estate markets in the metro area. Gated communities with clubhouses and padel courts now stand where fields and quintas once did.
Daniel Antonio Magaña Lozano, president of the Colegio de Diseñadores del Hábitat y Urbanistas de Yucatán, said in June that the north of the city, along with Cholul and Conkal, is driving most of the region’s housing growth. In some northern developments, he said, land now makes up the largest share of a home’s price.
Retail has followed rooftops across northern Mérida, with new plazas, hospitals, and offices filling in along the main corridors.
The Costco talks come as the state courts outside investment more broadly. This summer, Barrera Novelo said Yucatán was negotiating with more than 80 companies interested in setting up in the state, with potential investment topping MX$140 billion, or about US$7.6 billion.
Rumblings about a new Costco aren’t new. Three years ago, local media reported rumors of a Cholul Costco, but no project followed.
Costco has not publicly named the location of its next Mexican store.
Fast Facts
- Current store: Calle 3-B 243, Colonia Revolución, Mérida
- Phone: 999-913-4155
- Hours: 10 a.m. to 8:30 p.m. weekdays; 9:30 a.m. to 9 p.m. Saturday; 10 a.m. to 8 p.m. Sunday
- Opened at current site: March 2015, a US$40 million investment
- Costco stores in Mexico: 43
- Rumored 2nd Yucatán site: Conkal (unconfirmed)
- Costco’s Mexico plan: 1 new warehouse in fiscal 2027
With reporting from El CEO, La Región, Diario de Yucatán, POSTA, and Expansión
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