One of the prominent developments in the Belo Horizonte metropolitan area is the imposing Concórdia Corporate, located in Nova Lima. This Class A+ building has 28,000 m² spread over 31 floors and was delivered in 2018, owned by FII Pedra Negra (FPNG11).

Another highlight is the Edifício Sede Localiza, also in Belo Horizonte, a Class A+ asset with 24,000 m². This building was specially developed for the car rental company Localiza, which previously occupied headquarters in separate buildings, according to information from the Gisele Borges Arquitetura office.

The office market in Minas Gerais is one of the few Brazilian regions that saw a reduction in vacancy, even during the pandemic period. In 2019, the vacancy rate was 19%, dropping to 18.1% at the height of restrictions in 2021, despite the delivery of new developments. Currently, vacancy levels are at 7.1%.

According to occupancy statistics from Market Analytics, the FIRE (Finance, Insurance, Real Estate) segment is the largest occupier, representing 40% of total occupancy, followed by business products and services, with 22%. In third place are manufactured products.

Among the largest occupants, Localiza stands out, fully occupying the headquarters building that bears its name. In second place is Banco Inter, fully occupying the Aureliano Chaves building, with 22,000 m².