New tenants ensure the performance of Curitiba's office market

With no new office developments delivered since the end of 2018, the city of Curitiba has seen an increase in the number of occupants in its commercial areas, currently accounting for 79.47% of the city's total stock, according to the latest data from the SiiLA Market Analytics platform for Class A+, A, and B properties.

Curitiba currently has 369,211 square meters of office spaces, divided across seven commercial regions: Água Verde, Batel, Campo Comprido, Centro (Curitiba), Centro Cívico, Mercês, and Rebouças.

Net absorption, the index that records all new leases minus the returns during the period, ended the quarter at 1,998 square meters. In times of the pandemic, this positive number was rarely seen in cities monitored by SiiLA in Brazil. Aside from Curitiba, only Campinas had a positive balance, while cities such as São Paulo, Rio de Janeiro, Belo Horizonte, and Brasília had a higher number of departures than new leases.

For the last quarter of 2020, there is a forecast for the delivery of four towers in the same complex that will be occupied by the Federal Police, totaling 11,988 square meters.