The country's office market reported an upturn in the demand for profitable spaces in October due to the reopening of most of the country's entities in accordance with the epidemiological traffic light and that allows mobility to return almost to normal.

According to the monthly report prepared by the Solili consultancy, in October the corporate demand nationwide registered almost 46 thousand square meters (m2), of which 60% are concentrated in the country's capital.

However, market availability continues to be high and the expectation is that this will remain the same as projects under construction are added to the inventory.

As new projects are incorporated into the available inventory, there will be new spaces with better locations, with extensive infrastructure, at the forefront in internal distribution and connectivity.

Check here: Solili Offices Report October 2021: Flexibility sets the standard in the face of increasing demand

This situation will allow tenants from other submarkets to take the lead when their contracts expire due to the predominance of a demanding market.

Demand in Mexico City led to the rental of 28,307 m2, although class B spaces with greater absorption stood out, with sizes ranging from 85 to 880 m2, approximately. On the other hand, in Guadalajara and Monterrey there was a gross demand of 10,000 and 8,000 m2 respectively, second to the capital of the country.

Although no new projects have been started, in Mexico City 897 thousand m2 of buildings are in execution, which represent 7.8% of the current inventory of the city; the Reforma, Polanco and Insurgentes corridors concentrate 77% of these constructions.

Of interest: Reopening of activities boosts the office and industrial real estate market

Solili affirmed that “corporate developers nationwide have practically not started new office construction so far this year in the capital and during the month of October 2021 only in Monterrey a project of 3,000 square meters of offices started, located on the Centro corridor and that it is available in its entirety ”.

They added that “the capital's corporate developers continue to carry out modifications to the plants that are still being built in order to thus generate a flexible product that guarantees sanitary security, while facilitating that the spaces incorporate the necessary connectivity so that the face-to-face and remote teams can coordinate the execution of their functions ”.

In Solili consult offices available in Querétaro, Tijuana and Mérida

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