Another financial sector player expanding its operations is Stone Payments, which has recently secured 100% occupancy of White 2880, a development located in Rebouças that had been vacant since its inauguration in late 2022.

Even the traditional Caixa Econômica Federal has been active in leasing corporate floors in recent months. The institution is now the tenant of three floors at Riverview Corporate Tower, situated in the Chucri Zaidan region.

The financial sector continues to dominate office space occupancy in São Paulo. While in recent years, some major companies have been downsizing their office footprint, particularly due to increased flexibility in employee work arrangements. Meanwhile, technology companies, which previously made headlines with significant leases in upscale developments and CBDs, are now reassessing their occupancy needs.

• Read more: Financial Institutions Lead Office Occupancy Rankings
• Read more: Meta, Owner of Facebook, Leaves Corporate Spaces in Latin America, the US, and Europe

According to Caio Maia, Head of Research and Strategy at JLL, technology and financial sector companies are at different stages within the corporate leasing landscape.

"I believe these are concurrent but distinct trends. The financial market, specifically, has undergone significant changes in recent years. Traditional banks - historically significant lessees of corporate space - face competition from virtual institutions that have gained massive consumer adoption. The growth of these new players has spurred the leasing of corporate spaces to accommodate their employees, thus bolstering their presence in the real estate market," he explains.

Regarding technology/e-commerce companies, Maia notes that after significant expansion, these companies are now focused on stabilizing their operations and enhancing operational efficiency.