Developers are looking for new business models to deal with the vacant 2.4 million square meters of offices, caused mainly by the pandemic, while new construction continues to be added, although in a smaller quantity than that registered prior to the pandemic, Solili reported.

The situation brought about by Covid-19 gave the final push to a work model that had remained for years, through technology that went on to detonate the reinvention of the office concept. An example of this change, Solili highlights, is from institutional coworking companies, which opened their options to multiple alliances.

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Among the platforms that entered the radical change of offices, betting on shared spaces and virtual offices, we find Wework, or the more recent Around, which offer unique workspaces for growing teams, as a way to unite the offer of companies that have with empty spaces with the demand represented by those that require spaces.

The behavior of the developers, after starting the activities in June 2020, was to give continuity to almost all the projects, including large volumes, focusing on the final output product and what investors or tenants would demand.

Solili indicated in a recent report that, at the end of April, the vacancy of offices in the country presented a cycle trend of 4.6%; "A similar value to the previous month and 30 basis points below the value registered in 2020". In addition, they affirm that the vacancy of offices is higher due to the demand for spaces.

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Despite this vacancy, 3Q 2020 was the one that registered the highest activity with the delivery of four important projects due to their net profitable area: The Summit with 53 thousand square meters in the Santa Fe submarket, Corporativo Melt with 31.7 thousand square meters and Corporate Vertex with 26 thousand square meters within the Polanco submarket and Insurgentes 700 in the Insurgentes submarket with 16.4 thousand square meters.

At the end of the first quarter of the year, the vacancy was mainly concentrated in three submarkets that group a little more than half of this indicator, the Norte submarket with 442 thousand square meters, Insurgentes with 388 thousand square meters and 384 thousand square meters in Santa Fe.

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