Government support and agreements with the private sector have been essential to maintain the city's attractiveness for national and foreign investment, this has been reflected in the real estate sector with the increasing installation of technology companies in industrial and corporate areas.

Regarding the class A corporate real estate market, the city of Guadalajara begins the second half of 2021 with a significant increase in gross absorption, almost three times what was achieved in the previous quarter, which had a positive impact on net absorption.

Office rent was the highest percentage in closings over sales, gray work spaces predominated in preferences over conditioned ones and in existing buildings.

The average size remained similar to the previous quarter at 460 square meters, highlighting the Nueva Zona Financiera submarket with 40% of the total, due to the fact that in August had the maximum recorded with 4,700 square meters.

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A gross absorption similar to that of 1Q 2021 was reported, but with an increase of 6% until reaching a total of 14,700 square meters and a maximum that occurred in the month of August with 8,200 square meters.

Despite continuing below the values prior to the health emergency, this quarter there has been a significant improvement in office rentals.

Vacancy continued at levels above 10,000 square meters, as in the previous quarter, the Plaza del Sol submarket was the most affected by a vacancy greater than 4 thousand square meters in a single building and Vallarta - Americas is the submarket with the lowest impact.

At the end of the third quarter, the city totaled 6,200 square meters of positive net absorption, the opposite of the past period in which the value was negative, however, the figure is lower than that reported at the beginning of the year where it was a little more than 12 thousand square meters.

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As in the case of Mexico City, Guadalajara has also raised the phenomenon of conversion of office spaces to housing or other uses, along with possible redesigns of mixed-use projects such as Essentia Country or Torre Zion, which are to be defined in its final use.

The behavior of unemployment and absorption has been irregular during 2020 and so far in 2021, so there is an uncertain panorama about how the real estate market in the city will end the year, although the situation of the year is repeated 2020 can end with a positive number, net absorption and little unemployment in 2021.

It should be noted that by Q4 2021, the construction of Neruda Providencia will begin, a mixed-use development in the Nueva Zona Financiera submarket, currently in commercialization and that would be adding around 11,600 square meters to the construction.

This development is part of others that are projected in the city and that follow the trend of verticality in combination with mixed uses, especially with housing.