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SBI - GERAL Q1 2026
+2.90 % 351.30
=
INCOME RETURN
+2.07 % +
APPRECIATION RETURN
+0.83 %
USD / REAL
0.00 % 5.02
CAN / REAL
0.00 % 3.64
EURO / REAL
0.00 % 5.82
IBOVESPA
-0.70 % 118,939.87 PTS
IFIX
0.00 % 3,855.09 PTS
SELIC
14.50 % 23.May.2026

Slow Start for Brazil's Office Market: Just 12.4% of 2024's Expected Stock Delivered by Mid-Year

  • At the end of 2023, at least 88.7% of the corporate office space projected at the beginning of the year had been delivered by December;  
  • To reach this level, developers of corporate projects will need to speed up their construction timelines

Valter Chammas Filho, commercial director at Constrac, owner of Ibira Work
Valter Chammas Filho, commercial director at Constrac, owner of Ibira Work
By: SiiLA News
08/21/2024

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).

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