At the end of 2Q 2021 there was a downward trend in the pace of construction of the corporate market in Mexico City, justified by the slow demand for vacant spaces in the capital.

The capital's corporate market closed that quarter with just over 44 thousand square meters of profitable net area that was added to inventory.

These numbers, released by Solili, are well below those recorded in periods before the pandemic, where the growth rate was more than double.

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The total inventory of available space in Mexico City today is 11.4 million square meters. This reflects a quarterly increase of 0.9% and an annual increase of 3.4%.

The projects stand out: Torre Cervantes with 14.1 thousand square meters, One Tower del Valle with 10.8 thousand square meters, Sonora 46 with 7.6 thousand square meters and Atelier with 6.1 thousand square meters.

Some developers, based on changes in market trends, prefer retrofitting rather than building new projects. An example of this is the growing commercialization of offices for residential, hospital or mixed-use use.

Such is the case of Portal Norte, La Viga, Universidad 1080, Antara and Durango 221, with net profitable areas ranging from 1,500 to more than 22 thousand square meters.

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The rest of the year it is expected that meeting room designs will continue to prevail, to reinforce the management and use of space as one of the pillars in the essence of corporate culture.

Likewise, the return of part of the personnel will continue, as the vaccination guidelines are met in the capital, with the application of the hybrid work system. With this, from the second half of 2021 the leasing of corporate spaces could begin to increase.

In Solili you have the Corporate Market Report at the end of 2Q 2021

Original note