The deputy general director of Fibra Uno, Gonzalo Robina, assured that the Mexico City office market has spent practically four years without generating new projects, mainly due to the effects of the Covid-19 pandemic.

"We have been four years without new projects and only the projects that were already underway are being completed," he assured during his participation in a recent forum.

The manager explained that prior to the coronavirus health crisis, between 300 and 400 thousand square meters of offices were produced each year in the country's capital city, however, now they have stopped building new developments.

Check here: Office market is on track to report pre-pandemic volumes of demand

He recalled that, in addition, since 2018 the local government basically canceled all the works that were in Mexico City and after the Covid-19 pandemic, square meters were detected in development, but not new production.

"Close to 90% of the office market is Mexico City, so since that year the machine for building square meters has stopped," emphasized Gonzalo Robina.

Then he added: "I don't know if the recovery in the sector has already begun, but the people who are asking for offices are already coming back."

Gonzalo Robina considered that since the production of new square meters of office space has stopped, the sector will benefit in terms of absorption. "The meters that we bring will be consumed without having to inject new square meters," he said.

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Therefore, he projected that in the next two or three quarters the office market in Mexico City will be practically back, reporting positive absorptions.

Fibra Uno owns a portfolio with more than 10.9 million square meters of leasable space, of which 1 million 143 thousand correspond to corporate buildings, which reported an occupancy rate of 74.8% in the first quarter of this year, equivalent to one reduction of 60 basis points compared to the fourth quarter of 2021.

In Solili you can check available offices in Mexico City, Monterrey and Guadalajara 

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