With a little less than a million inhabitants and a territory that occupies about 883 square kilometers, Mérida is a small to medium-scale city compared to the rest of the cities in Mexico, which corresponds to its corporate inventory of 126 thousand square meters until 1Q 2021.

The high level of quality of life is a quality that today represents the city, the center of the authentic Yucatecan culture that is positioned as a destination for locals and foreigners, according to the United Nations Organization since 2018.

However, in recent years its office real estate market has aroused the interest of several investment firms and as a reference to this, currently about 7 buildings with a total of 46 thousand square meters are being built, in which most are class A.

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The boutique concept in the office segment refers to properties that offer the same characteristics of large developments such as advanced technology, excellent quality in finishes and modernity in design; but with the particularity of having less height and dimensions, which will offer the tenant greater exclusivity and luxury as a central benefit.

A large part of the corporate buildings in the city are low-rise, whose average net profitable area is 3,000 square meters, with floors an average of 600 square meters and that can be categorized as boutique.

Another common element is that developers allocate a floor to create much smaller areas of 30 square meters or less, expanding the range of options for buyers and renters.

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These considerations allow us to affirm that the majority of projects are inclined towards modern spaces, with state-of-the-art technology but on a scale that obeys the geographical, economic and social conditions in the city.

The only development that will break this trend will be The Sky, which is defined as the tallest skyscraper in the Mexican southeast, designed for mixed uses and will be similar in height to those found in Mexico City, Monterrey o Guadalajara.

To learn more about key indicators of the office market in Mérida, consult: Mérida Office Report April 2021