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Healthcare Sector Gains Ground in São Paulo, Accelerates Leasing Activity
Healthcare surpasses financial sector in proportional growth among prime assets; Insurance and coworking shrink
SUBSCRIBER EXCLUSIVE
By: SiiLA News
07/25/2025 Recent data from SiiLA’s Market Analytics shows that the healthcare sector is experiencing the highest proportional growth among Class A+ and A office assets in São Paulo’s CBDs—outpacing even the financial sector. Over a 36-month period, healthcare tenants expanded their footprint by 18.68%.
The timeframe analyzed by SiiLA’s intelligence team spans from Q2 2022 to Q2 2025. Three years ago, the sector occupied 147,600 sq. meters; today, it stands at 181,500 sq. meters.
In total, 58,900 sq. meters were leased by healthcare tenants over the period. The largest single lease was signed by Hospital Sírio-Libanês, which took approximately 10,000 sq. meters at the O Parque building. Following closely are Grupo Seven, with 9,500 sq. meters at Rochaverá, and Hospital Albert Einstein, which leased space at HBR Corporate Tower Pinheiros.
The legal sector also posted significant growth, increasing its...
Contractions
In the past three years, the insurance sector reduced its footprint in CBD areas by 23.77%, a drop even steeper than that seen in the e-commerce sector, which contracted 21.3%—largely due to the WeWork crisis.
In total, 53,000 sq. meters were vacated, compared to 24,000 sq. meters of new leases, resulting in a net absorption of -29,000 sq. meters. The biggest contributor to this decline was Amil, which vacated 16,200 sq. meters in EZ Towers’ Torre B between 2023 and 2024.
SulAmérica also exited a substantial area during the period. Following the partial acquisition of the company by Rede D’Or, 12,000 sq. meters were vacated.
Only three sectors posted net declines: Insurance, Coworking, and Consulting (-4.67%).
Tenants
The largest lease this quarter was signed by Banco do Brasil, which took 13,700 sq. meters at Passeio Paulista. Overall, the financial sector led leasing activity in the period, accounting for 25,000 sq. meters through deals with Mastercard, Fictor, BTG, and others.
The healthcare segment—despite its standout performance over the past three years—recorded only one small lease this quarter: 2,100 sq. meters at JK 180.
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ABOUT SiiLA
Founded in 2015, SiiLA is the industry leading REsource for comprehensive commercial real estate market insights, news and events across Latin America. The SiiLA suite of innovative products drive greater accuracy, efficiency, and strategic advantages for top players in the commercial real estate industry.
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