The office market in Tijuana continues to register the lowest vacancy percentage nationwide, closing with 1.96% at the end of June 2023. On the other hand, the gross absorption reported during the first semester of 2023 grew significantly by more than 3 times with respect to the first semester of 2022.

Tijuana, due to its geographical condition on the border with the United States and mainly with San Diego and Los Angeles, benefits from the competitive costs of labor and building construction, which has allowed it to attract the interest of various tenants who demand corporate spaces.

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Medical tourism has been an important driver of corporate demand in recent years, which has drawn the attention of real estate developers who see an opportunity in generating an offer of mixed-use projects that serve complementary sectors such as housing, hotels, or commerce.

When starting a project with some commitment to sell or rent, the initial phase of the start-up capital contribution already guarantees compliance in time and form with the first infrastructure and structure works, which attracts potential interested parties and allows the developer to measure the time to go out with the pre-sale based on the monitoring of current and future economic conditions.

Verticality and mobility are the main axes that will govern urban development in the immediate future in Tijuana, both in residential and corporate uses.

The offer that is advancing in the city is made up of eight projects that total one of the biggest construction peaks in the last five years, accumulating more than 64 thousand square meters of works in progress.

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The Landmark Tijuana in Agua Caliente, and Ovva Tijuana and Cosmopolitan City Center in Zona Rio reach the highest footage with 14, 12.9 and 10.6 thousand square meters of net leasable area. However, of the eight corporate projects that are being built, only two are available as of July 2023, as is the case of Corporativo G and Cosmopolitan City Center with 3.3 and 2.6 thousand square meters, in Zona Rio, respectively.

The interest in starting new corporate works continues and only in the second quarter of the year two new office projects began, one whose net rentable area is 9.7 thousand square meters on the Vía Rápida submarket and the other of 3.3 thousand square meters on the Zona Rio submarket.