If any segment of real estate investment has been significantly affected in Mexico, it has been that of offices, which in recent years had achieved inventory growth rates close to 10% in most of the most important markets in the country.

The global health situation aggravated the office vacancy, which according to Solili at the end of 1Q 2021 was in the order of 21% in Mexico City and Monterrey, the two main markets in the country.

However, the strength of the developers that integrate offices into their portfolios and the institutionalization of the participants in this real estate segment has been the key to the interesting movements observed at the beginning of the year and which were reinforced in April.

For example, this week the first Mexican real estate fiber announced that after evaluating the best and highest use in its portfolio, it will reconvert some existing square meters to hospital use, as well as make changes of uses in some floors of a mixed-use project near completion of construction.

Another movement observed is the designated footage in portfolios of medium-sized groups with Class B buildings well located in central neighborhoods such as Rome, Naples and Condesa that strengthened their coworking offerings to compete with traditional firms positioned in the city such as Wework, Regus and IOS Offices. , among others.