For the last two quarters of 2023, São Paulo is set to see the introduction of four Class A+ and A developments, collectively totaling more than 49,000 m² of private area. These projects are spread across the Faria Lima, Vila Olímpia, and Pinheiros regions, known as Central Business Districts (CBD).

This new stock represents an opportunity for these regions, as highlighted by Emerson Komesu, Commercial and Research Manager at SiiLA, a company focused on market intelligence, research and development analysis.

"When we analyze CBD regions with low vacancy rates and limited availability of prime properties, the delivery of new stock is beneficial for the area and for those looking for office space in those location. ", explains.

According to the SiiLA Market Analytics platform, the Faria Lima region boasts a vacancy rate of only 6,43%. In comparison, Pinheiros and Vila Olímpia have vacancy rates of 16,14% and 15,39%, respectively (considering classes A+, A and B).

Auri Plaza Faria Lima, located in Vila Olímpia, will be the only A+ development in the region to be delivered in the latter half of the year. It will feature 13,960 m² spread across nine floors. In Pinheiros, the southern zone of São Paulo, the HBR João Moura, with 9,290 m², and the HY Pinheiros, with 12,954 m², both Class A developments, are expected to be delivered by the end of the third quarter. In Faria Lima, the Corporativo Faria Lima project is slated for delivery in the last quarter of the year and will encompass 13,157 m².

Class B developments are also expected for this year

The new stock of Class B developments in CBDs is also significant, totaling over 44,000 m² of private area in the neighborhoods of Itaim Bibi, Pinheiros, and Faria Lima. Three of these will be delivered in the third quarter and two more in the fourth quarter.

"Class B developments play an important role in what we call the secondary market, where liberal professionals, service companies and startups. As these companies grow, they tend to expand into high-quality spaces. These Class B projects are known as the Middle Market, serving smaller markets with tenants of smaller scale", says Komesu.