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According to data analyzed by SiiLA, out of the 531 thousand square meters of new A+, A, and B class office space projected to be delivered in 2024 in Brazil, only 66 thousand square meters, or 12.4% of the estimated total for the year, has been delivered.
Given this scenario, either developers will need to accelerate their scheduled projects for 2024, or they will push the completion and delivery of the remaining stock to 2025.
In 2023, according to SiiLA data, the projection for new corporate office space was 250 thousand square meters. By the end of that year, 222 thousand square meters, or 88.7% of the initially projected amount, were delivered.
Looking at data from previous years, it is evident that projected new stock often exceeds the square meters actually delivered (see chart below).
As shown in the chart, 2018 was the year in which the projected stock and the delivered space were most closely aligned. During that period, 97.84% of the initial forecast for corporate office space completion and delivery was realized.
So far, the developments delivered in 2024 have stood out in terms of size and occupancy. The largest of them is Estaiada Corporate, by Stan, delivered in February, with 13 thousand square meters. In contrast, the smallest development delivered this year was Ibira Work, by Constrac, with 1.9 thousand square meters. Among these launches, only one development was delivered with a occupancy rate of 100%: Corporate Garden, by VBI.
By the end of 2026, SiiLA projects that up to 888 thousand square meters of new commercial stock will be delivered in São Paulo.
Meanwhile, Rio de Janeiro is expected to see an additional 124 thousand square meters of available stock.
Porto Alegre follows with an estimated 40 thousand square meters of additional corporate office space.
Belo Horizonte, with an estimated 14 thousand square meters, and Curitiba, with 4 thousand square meters projected, round out the expectations for future office stock.











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