Fibra Uno (FUNO) is working on converting some of its office buildings, as reported by Gonzalo Robina, Deputy General Director, and Jorge Pigeon, FUNO's VP of Capital Markets and Investor Relations.

The office buildings will be transformed into hospitals, which are located in Mexico City, Mérida and Monterrey.

The evident lack of health infrastructure led them to decide to reconversion of these spaces, indicating that this is compounded by their low productivity in the corporate sector motivated by current market conditions.

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They also pointed out that other FUNO offices will become homes. Most of them are located in Mexico City, and only one is in Guadalajara.

"As a real estate investor, we look for location, which is the most important thing, and that allows you to have the opportunity to change the turn of these buildings to hospitals or housing because the property is well located," explained Jorge Pigeon. 

The office sector in Mexico has been one of the most affected by the Covid-19 pandemic; There are companies that have been affected that are leaving the market, and others that are reducing staff in the workplace. 

In a virtual press conference Gonzalo Robina explained that there are companies that need to occupy more square meters to give more space to their workers.

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"For example, a company that had 100 employees is going to leave 30% of its people at home, but the remaining 70 are going to take the same space as those 100, somehow that will end up leveling the occupation."

Regarding office rental, the general director indicated that this is where a greater vacancy of spaces can be observed in FUNO.

“I think it definitely hit the ground, but we're going to walk forward. In 3Q2021 and 4Q2021 it will stabilize, and next year is when we will be seeing a recovery ”. 

He also indicated that the safest thing is that in 2022 there will be a perspective of how the office sector will be.

“I think that for the year that comes we can see exactly in what conditions it is remaining and we are positive in that sense; also we are already adapting to the new normality and to the way of living together in the offices ”. 

According to the director, they currently have some measures in place such as elevator sanitation, facial recognition automation and others to avoid touching surfaces. 

In Solili you can check the inventory and availability of Offices in Mexico City 

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