The corporate segment has managed to hold its own thanks to the entry of new investments in the office market. During the first seven months of 2024, a cumulative demand of more than 470 thousand square meters occupied has been recorded.

In July 2024, leasing activity in the national office segment reached a total of 45 thousand square meters. Mexico City remained in first position as the country's main investment hub, concentrating 64% of office occupancy. Monterrey takes second place with 22% of demand, while Guadalajara remains in third place with 9% of office occupancy.

The office market experienced a decrease in demand, with a figure that reached 50% of that registered in the same month of 2023. However, the markets of Monterrey, Tijuana and Puebla maintain demand levels similar to those registered in July 2023.

The move out activity was 23 thousand square meters. Mexico City leads this figure with 17 thousand square meters vacated, followed by Monterrey, with 4.6 thousand square meters. Although the demand for offices experienced a drop in July 2024, leasing activity continues to exceed the move outs. In the Querétaro market, unlike the rest of the country, the move out figure doubles the leasing figure.

The total construction of the corporate market closes the month of July with 1.2 million square meters in the process of development nationwide, where the main metropolises report the highest levels. Mexico City, Monterrey and Guadalajara, with 58%, 18% and 8% of the space under construction. However, during the month, the start of construction of new corporate buildings in the country was not reported.

The rental price of offices in Mexico is $20.17 USD/m²/month. Tijuana reports the highest price in the country at $22.17 USD/m²/month, followed by Mexico City at $21.12 USD/m²/month. On the other hand, the most competitive price nationwide is maintained by León, Guanajuato at $12.15 USD/m²/month.

During July 2024, the market reports a drop in leasing activity, however, investments in the corporate segment remain active in most of the country's markets, and the interest of companies to establish themselves on Mexican soil continues to be present, which demonstrates the resilience of the corporate sector. Although demand dynamics have undergone changes, the market is expected to recover its pace in the remaining months of the year, supported by the economic stability of most of the country's urban centers.