Mexico City continues to concentrate a significant amount of the country's corporate demand with 77% of the national total at the end of 1Q 2022.

In the country's capital, gross absorption has continued to favor class A buildings, where 62% of closures were concentrated, led by Insurgentes and Polanco, which reported 30 and 18 thousand square meters at the end of the period.

In this first quarter of the year, nearly three-quarters of corporate space rental operations correspond to surfaces of less than one thousand square meters, although if we analyze the number of transactions there was an increase of more than 60% between 4Q 2021 and 1Q 2022.

It must be taken into account that at the beginning of the year some threats of contagion were still latent, although a large part of the Mexican population and specifically in Mexico City already had the complete vaccination schedule, and campaigns were carried out to vaccinate minors. of age and complete the booster dose to the lagging population in all age groups.

Polanco and Insurgentes managed to concentrate at the end of the first quarter of 2022 about 53% of the gross demand of the country's capital, which reached 90 thousand square meters.

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Polanco focuses its appeal on the balanced mix of residential, commercial and corporate uses, along with healthcare, educational, recreational and religious facilities that complement them.

A residential offer of high socioeconomic level is developed on its main roads such as Horacio, Homero and Ruben Dario, among the main ones, with a shop where the most exclusive shops and brands can be seen along Masaryk Avenue or on land for specific use. for commerce such as the one occupied by Palacio del Hierro Polanco or the Antara Shopping Center.

Polanco has a wide range of corporate offerings, from small offices of 45 square meters to large buildings such as the Melt, Neuchatel and Miyana Torre II corporate offices with maximum surfaces of 27, 37 and 62 thousand square meters.

For its part, Insurgentes has another building profile with greater heights on land that is mainly located on the east and west margins of Insurgentes Avenue, an important road artery that runs from north to south through the city.

Insurgentes use various public transportation options such as the metro and metrobus, this being a decisive factor for the timely transfer of personnel to their work centers.

Of interest: Government procedures are simplified to reactivate real estate development in CDMX

Currently, the Insurgentes submarket has a varied offer located on 400 buildings that group 510 thousand square meters available for rent, with sizes from 31 square meters to 41 thousand square meters, this last option corresponds to Espacio Condesa whose typical floors are 1,919 square meters and that it plans to finish in 2023.

It is expected that for the rest of the quarter the hybrid work model will prevail for the return to the offices, along with the use of the coworking format that allows developers to adapt to the new habits and space requirements of clients by having more flexible leasing schemes, decentralized offices and closer to employees, among other benefits.

Some developers see a positive trend for this year in terms of real estate rentals, since there is greater interest on the part of tenants in rental spaces and in the expansion adjustments of footage that they make to their current offices, especially when Host large multinational and national companies from the technology, financial, IT, and manufacturing sectors, as well as fintech, delivery, and proptech business models; which continue with their expansion of personnel.