The corporate market of the capital at the end of 2Q 2021 culminated with a little more than 44 thousand square meters of net rentable area.

Torre Cervantes 251 adds the maximum net area value on the Polanco submarket with 14.1 thousand square meters; followed by 3 buildings on the Insurgentes submarket, such as 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, among the most important.

These settlements go on to swell the inventory of the city that reaches 11.4 million square meters, reflecting a quarterly increase of 0.9% and an annual increase of 3.4%. These numbers are well below those recorded in pre-pandemic periods where the growth rate was more than double.

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At the end of 2Q 2021 there was a notorious downward trend in the construction rhythm justified by the slow absorption that demand is showing on the vacant spaces in the capital.

The reasons are diverse in this post-pandemic stage, some developers are taking a turn in the use of projects under construction and after submitting it to analysis and based on changes in market trends in general, they opted for reconversion.

An example of this are buildings planned as an office, which can now be marketed for residential, hospital or mixed-use use, such as Portal Norte, La Viga, Universidad 1080, Antara and Durango 221, with net profitable areas ranging from one thousand five hundred square meters up to 22.2 thousand square meters.

The vacancy in the capital with 22.1% continued its advance, having increased in one year about 46% aggravated by the pandemic but with an origin that had already been developed since 2018 where it had already reached 12% in July.

Class A buildings continue to have the highest amount of vacancy, located mainly on the Insurgentes, Polanco, Reforma and Lomas Palmas submarkets, with office spaces ranging from 100 square meters to 3.5 thousand square meters.

The rentals and sales registered during this quarter were mostly made with a starting price in national currency, to close with 21.4 dollars per square meter per month, which represents a quarterly increase of 10 cents on the dollar and an annual increase of 61 cents on the dollar.

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The vacancy continues to exceed demand, which this quarter was 55 thousand square meters, with the Reforma, Insurgentes, Santa Fe and Polanco submarkets the ones that reported the highest levels, due to the rent of spaces that range from 100 to 1,200 square meters per floor.

The rest of the year, it is expected that reconfigurable meeting room designs will continue to prevail, teleworking areas in which the personnel who so decide will remain within the facilities 2 to 3 days a week, reinforcing the management and use of space as one of the the pillars at the core 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.

Several companies have already finalized the corresponding adjustments in their processes with the rearrangement of their functions, so that from the second half of 2021 the leasing of corporate spaces could begin to increase.