Monterrey's corporate sector and its brand in Latin America
Solili | July 12, 2021 |

The Monterrey Metropolitan Area (ZMM) with its 5.3 million inhabitants, is the second with the largest population in the country only below the Metropolitan Area of Mexico City, according to INEGI with data from the 2020 census. It has managed to position itself in the corporate segment as a benchmark in Mexico and Latin America, in addition to being the second industrial market nationwide.

The dynamic of radial expansion of the city together with the evolution of its industrial activity, partly underpin the development of its corporate market in recent years in its submarkets Apodaca-Aeropuerto, Centro, Ricardo Margain-Gomex Morin, Santa Maria, Sur, Valle Oriente and Valle Poniente.

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The city's skyline is defined by the great height reached by its buildings and the modernity exhibited by the corporate spaces, as a reflection of the economy in the state and level of the companies that operate locally.

As of June 2021, according to Solili, the city of Monterrey has 1.27 million square meters of class A offices, with 260 thousand square meters of buildings under construction, belonging to different investment and development firms.

Among the most relevant in the existing inventory and its height profile for 2021, stands out the Obispado Tower located in the Center submarket with 66 levels of height, a net profitable area of 44.7 thousand square meters and standard plants of 1,200 square meters; it became the tallest building in Latin America, surpassing its predecessor in Santiago de Chile, inaugurated in 2016. Currently, it has 18 thousand square meters for rent and sale, as a notable tenant is Wework with 10 floors for renting equipped offices.

Another important building is Torre Koi, 63 stories high located in the Valle Oriente submarket, it has standard floors of 1,753 square meters that make it exceed 33 thousand square meters of net profitable area. Banorte is one of the high-ranking companies based in the tower.

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Regarding what is built, Torre Sohl is a mixed-use project with almost 160 thousand square meters, developed by Proyectos 9 and designed by the renowned Grupo Sordo Madaleno Arquitectos SMA; it will be a slender 262 meter high tower that seeks to become a new urban icon of the capital of New Leon.

Another 6 projects are also advancing in various stages of construction, which exceed 30 levels in height, for a total of 119 thousand square meters of net profitable area ranging from 14 thousand to 31 thousand square meters.

The Centro, Santa Maria and Valle Oriente submarkets are the ones that widely dominate the supply with 77.3 thousand, 82.6 thousand and 85 thousand square meters in total, respectively.

The consistent growth pattern of Nuevo León reflected in the 2015-2030 Strategic Plan and the participation of regional developers and investment funds, anticipate that Monterrey will continue as a benchmark in the corporate real estate sector in Latin America.

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