Since the first quarter of 2020, considered the pre-pandemic period (as social distancing restrictions began at the end of March), until the second quarter of this year, companies in the financial sector have had a net absorption of -186,000 square meters, considering the markets mapped by SiiLA, in Class A+, A, and B office assets.

According to sources consulted by REsource, over the past two years, including both new leases and anticipated returns, the Itaú Unibanco holding already records a net absorption of -80,000 square meters.

In a brief statement, the financial institution states that "at this time, it is evaluating the best way to use its physical and building structure, with the aim of adapting spaces to the operational needs of the bank and the working models of its employees."

Itaú has just delivered a development in the Jabaquara region, which is called Itaú Jabaquara and is expected to house the institution's employees. Even with this occupation in mind, the balance between newly occupied areas and areas returned by the bank will be negative. This move aligns with the pace of the financial sector as a whole, which has reduced its office occupancy in the post-pandemic period.

The bank's primary area returns have occurred across different regions. One of these returns, totaling 19,360 square meters, took place in the first quarter of this year at the Unibanco building on Eusébio Matoso Avenue in Pinheiros. In the same period, the institution also exit 8,747 square meters in the Centro Empresarial Água Branca in Barra Funda, totaling -28,107 square meters in São Paulo when the two returns are combined.

In Campinas, Itaú leased 956 square meters at the Sky Galeria.  In Rio de Janeiro, the company leased 694 square meters at Centro Empresarial Botafogo, both in the first quarter of 2023.