staging
Office market in Mexico City contracts due to pandemic
El Norte | July 15, 2020 |

In the second quarter, for the first time in four years, there was an office vacancy in Mexico City equivalent to 61 thousand square meters, according to the Solili consultancy. This surface is almost the same as the commercial area of Parque Delta and superior to the profitable space of the 57 floors of Torre Reforma. According to the consultant's quarterly report, the contraction was due to the measures applied to contain the spread of the virus, including the home office, unemployment, financial restructuring of companies and market oversupply.

"There is a constrained demand. Companies are waiting for what may happen and thinking about the future so that they can have a healthier cash flow, since paying office rent is the second strongest expense, behind payroll, "explained Pablo López, director of Market Research at Solili.

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