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New Office Supply in Porto Alegre Surpasses 30 thousand m² of A+ and A-Class Space
- The region is recovering from a climate catastrophe and has already delivered more than 30 thousand m² of new top-tier corporate space
By: SiiLA News
04/23/2025 Recent data from SiiLA’s Market Analytics shows that Porto Alegre’s office market is expanding. In the first quarter of 2025, the total A+ and A-class office space in the region grew by 21.7%, increasing from 143 thousand m² sqm to 174 thousand m².
Over this three-month period, 31 thousand m² were delivered across three developments: Tower A and Tower B of the Carlos Gomes Square complex — offering 11 thousand m² and 8,8 thousand m², respectively — and Uma Corporate, with 11,1 thousand m².
Out of the three properties, only one has secured a lease so far: Tower A of Carlos Gomes Square, leased by PwC. As a result, the vacancy rate in the region rose proportionally with the new supply, jumping from 17.4% to 32.5%.
This new supply marks the first delivery since 2021, when the Miguel Tostes 201 building, an A-class asset, was completed.
The Region
In May 2024, Porto Alegre faced one of the most severe climate disasters in Brazil’s history, when a devastating flood hit the city, causing loss of life and damages surpassing the billion-real mark.
Despite the climate crisis, the region still posted a slightly positive gross absorption. The largest leases were closed by PwC with 485 m², 3yz Marketing Digital with 456 m², and PDG Vendas with 339 m².
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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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