Office construction has been one of the indicators that has been adjusting downwards after the pandemic. If we look at Mexico City, the office projects that were built in March 2020 totaled close to one million 185 thousand square meters, and three years later in March 2023 the figure represents 65% of that amount, as a result of the settlements. of works that are incorporated into the inventories and of the few new constructions that have been added.

The new projects that enter the market become very attractive since they have managed to adapt part of the offer to what tenants are currently looking for nationwide. Likewise, those larger volumes become attractive since they begin to configure the new height profiles in the main cities of Mexico.

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Of the national total that is still under construction as of October 2023, Mexico City maintains 55%, reaching 695 thousand square meters of office projects, with net profitable surfaces ranging from 714 square meters to the largest size represented by the R432 project. located on the Reforma submarket with 85 thousand square meters.

In Monterrey, the second largest office tower in the country is being built, called Torre Rise with a net profitable area of 47 thousand square meters, located on the Centro submarket. Although in this important corporate market in the north of the country, the Santa Maria submarket groups together 40% of the corporate projects that are currently built there.

In the case of Puebla, the Angelopolis submarket concentrates the total number of office projects under construction and the maximum size of net profitable area is found in Torre Inxignia, which is 23.8 thousand square meters, which represents 47% of the area under construction, only in the same building. Puebla continues to maintain the highest vacancy percentage at the national level with 25.

For its part, in Tijuana, Mérida and Guadalajara, the largest project is located in the order of 15 thousand square meters of net profitable area. In Guadalajara we find The District project with 15.2 thousand square meters in progress, while in Mérida The Sky is located with 14.5 thousand square meters on the Cabo Norte submarket, which concentrates 46% of the office areas under construction. In Tijuana we find The Landmark project with 14 thousand square meters on the Agua Caliente submarket, although it is the Zona Rio submarket that concentrates more than 50% of the office projects in progress.

Of interest: Guadalajara's industrial vacancy rate exceeds 2% during October 2023

Finally, in the shoal we find the MAC León project with 12.7 thousand square meters on the Lopez Mateo submarket, however the most active submarket is Campestre-Country, which groups together 60% of the constructions.

Meanwhile, in Querétaro, the corporate tower with the largest profitable surface area is Xentrix District on the Juriquilla submarket with 10.7 thousand square meters, the same submarket on which 88% of the office construction projects in this market are located.