One of the real estate sectors that has overcome the greatest number of challenges has been that of offices, not only in Mexico but worldwide. The portfolios were inclined to be interested in this type of property, which was characterized by receiving rents in dollars with time horizons of 5 to 10 years and where the main tenants were made up of multinationals and local companies with wide solvency.

This situation took place in the midst of a market that generally showed more demand than supply, mainly in the case of class A buildings that maintained excellent locations, modern constructions with standard floors over a thousand meters and parking lots, elevators, air conditioning equipment, facades that put them at an advantage over the rest of the inventories on the market.

Consult here: Solili Offices Report July 2023, gross demand from January-July increases 36% compared to 2022

During the last 5 years, the market has shown a clear trend towards the construction of new class A buildings. These projects have high quality and prestige, which allows them to generate both functional and innovative work spaces to meet the needs of companies. .

Class A buildings are characterized by factors such as design, technology, energy efficiency and having a strategic location, and it is for this reason that they have taken on greater prominence during the period.

In the cases of Mexico City and Guadalajara, construction of class A projects is advancing in July 2023, 45% and 42% of what was built in July 2019, prior to the pandemic. In Monterrey and Querétaro, class A constructions represent 86% and 61% of what was under construction five years ago. However, at the national level Tijuana manages to double the class A space, compared to what was built in July 2019.

Of interest: Coworking and its new offer of services

Another relevant indicator when it comes to understanding this real estate dynamic is the vacancy that in Mexico City and Querétaro, although it has been gradually adjusting downwards, still maintain levels above what was registered in July 2019. Markets such as Monterrey, Guadalajara and Tijuana do achieve much lower levels than those registered prior to the pandemic.

As companies seek to stay competitive in a business environment that evolves day by day, investments in the highest quality properties classified as class A prove to be a wise strategy to meet these objectives.