Already near the end of September 2021, the majority of Mexican entities, including the main cities such as the capital, Monterrey, Guadalajara and Tijuana, among others, were on a yellow traffic light of epidemiological risk to move towards a new normality,

As of mid-October, the traffic light was moved to the green light, allowing bars and nightclubs to have a capacity of 50%, while the offices had a ceiling of 80%, on average,

Both the industry and the offices had a great impact on their activities throughout 2020 and little by little measures and provisions have been adapted that have facilitated safe access to the work routine.

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In the corporate sphere, the flexible work scheme accelerated the possibility of working remotely, which many companies used to resize their operations and implement the technological changes necessary to mesh their face-to-face teams in the office and those of remote work.

This sector had registered negative net demands that imply that unemployment exceeded the spaces demanded in the period.

Only in the capital the net demand of 1Q 2021 was negative of 170.8 thousand square meters and it fell although it still remained in negative terrain at the end of 2Q 2021 with 64.4 thousand square meters, which indicates that the gap had been slowly recovering.

If we review the trends with the results of July and August 2021, unemployment in the capital represented 36% of gross demand and, on the other hand, gross demand has also been increasing gradually as activity returns to the city.

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Industrial activities, for their part, have also generated recovery figures due to the fact that the advancement of the vaccination program made it possible to relax the restrictions associated with the health emergency.

In its latest forecast of August 31, Banxico anticipated a 6.2% recovery, highlighting that activity in the North and Center-North region is at the levels of the first quarter of 2020, the period prior to the pandemic, while the South and the Center is still below that benchmark.

Another factor that permeates the Mexican economy is the recovery of the United States, where pre-pandemic levels have already been reached and which will bring a significant boost to Mexican activities, especially those associated with the border.

In general terms, the remainder of the year will continue to advance the scheduled incorporations of personnel both to offices and to industries, favoring the momentum of the office and industrial real estate market.