The Nuevo León market has had a strong boost from Foreign Direct Investment (FDI) that exceeded 4 billion dollars at the end of 2021, which represents more than 30% of what was registered in the previous year.

During 4Q 2021, foreign investment amounted to 921.7 million dollars, an amount that is 23% higher than that registered in 4Q 2019, the last period prior to the pandemic.

Developers and investors from the industrial and corporate markets are attentive to this signal and aim to create a harmonious market that allows satisfying the needs of producing, working and living in the entity.

The Monterrey corporate market registered, at the end of 2021, just over 87 thousand square meters of gross demand for offices, which was 77% higher than that registered during 2020.

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Regarding the vacancy, the highest number was reported in May 2021 with 21.2% and from there it has been adjusting, little by little, this percentage closing in February 2022 with 19.4%, that is, almost two percentage points less.

In this market, 90% of the inventory is concentrated in the submarkets of Santa María, Ricardo Margain - Gomez Morin, Centro and Valle Oriente, the latter being the one that groups the largest number of corporate buildings by 472 thousand square meters.

In turn, it is on this corridor that 63% of gross demand was concentrated during the last quarter of 2021, which exhibits one of the lowest vacancies in the entity with 12.8%.

The Ricardo Margain - Gomez Morin submarets with vacancies at the end of 4Q 2021 show values below the entity's average with 17.9% and 18.8%, respectively.

During the last quarter of 2021, the preference for both conditioned spaces and gray work was maintained, as in the third quarter, and there was an increase in transactions for space rental over sale.

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The average rental price has remained relatively stable since October 2020 and at the end of February 2020 it registered $18.36 dollars per square meter per month, after the decrease shown in the most critical period of the pandemic between January and October 2020.

Vacancy has been able to reverse its upward trend due to the slowdown in new construction, which has allowed absorption to go to existing buildings or those that were still under construction and that had started before the pandemic.

For example, during the first two months of 2022 they did not start new projects, a trend that is observed in almost all corporate markets in the country.

By 2022, it is expected that the efforts of developers and investors will continue to deepen the analysis of their projects and validate if the technical, legal, commercial and financial feasibility leads them to the use of offices, or on the contrary, allows changes in uses. that make the placement of the property on the market more viable.