Monterrey, the second national corporate market, has been affected by the pandemic as well as the rest of the markets in the main Latin American cities.

The city's inventory, which grew at a rate of 9.2% between August 2019 and August 2018, and 15.2% between August 2020 and 2019, dropped to 4.7% if we compare August 2021 with 2020.

The first quarter of the year there was a negative net demand of 12.9 thousand square meters, where unemployment exceeded the gross demand.

We saw a large number of square meters of companies that adapted to new work schemes and reduced the area they rent in corporate buildings.

Under this scenario, the vacancy reached 20.5% in 1Q 2021, when two years ago it had remained at 15%.

The current situation in terms of demand manages to partially reverse the effects that the pandemic added to the market.

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Gross demand for the second quarter of the current year, registered 17 thousand square meters, which represents an increase of 76% compared to 2Q 2020.

This figure becomes very similar to that of 2Q 2019, where what was to come was not foreseen and where the gross absorption was 16.9 thousand square meters.

Another noteworthy fact is that the construction volume in general terms has remained in the order of 252 thousand square meters.

The Class A buildings that advance in various construction stages exceed 26 with about 269 thousand square meters.

The Monterrey office market has been characterized as one of the strongest and that generates the greatest confidence in the medium term, hence the pre-sale of spaces that are still under construction continues to be one of the factors that has driven developers to continue investing in corporate projects.

Investors are betting on the Monterrey market because they consider it with the potential to continue growing and with strong potential to make investments grow.

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The wide range of sizes available for projects under construction ranges from 315 square meters to 14.7 thousand square meters in a single building.

The buildings Torre Hélice, Torre 411 and BH Lifework with 36, 28 and 32 levels are an example of the change of profile towards where the city advances.

These modern buildings offer the possibility of acquiring from small professional offices to half floors or entire floors, which has reactivated corporate demand.