Premium offices expand beyond São Paulo’s traditional hubs

Faria Lima, Itaim, and JK face growing migration to more affordable districts with infrastructure aligned to market demands

SUBSCRIBER EXCLUSIVE

Silvia Penna, General Manager of Uber Brazil, the company behind the largest office lease transaction of the quarter

By: SiiLA News

05/20/2026

After years of well-established business districts shaping São Paulo’s office market, the city is now experiencing growing decentralization, driven by Pinheiros, Chucri Zaidan, and Chácara Santo Antônio, which are reshaping the concentration of Class A+ and A office occupancy.

The city recorded its lowest premium office vacancy rate in the past decade, reaching 15.07%. At the same time, market values continue to rise steadily, hitting R$149.77/m². Amid this positive scenario, however, different cuts of the data reveal contrasting perspectives within the same story.

The JK region accounted for the largest office lease transaction of the first quarter of the year, with Uber occupying 16,600 m² at JK Square for R$220/m².

Among the city’s established office districts, Itaim Bibi has the lowest vacancy rate, corresponding to a total vacant area of 54,400 m². The region’s market value is 108.12% higher than that of Pinheiros, which has the lowest vacancy rate...

Infrastructure surrounding office assets, pricing, and area availability are increasingly attracting companies to emerging districts, including cases of corporate headquarters relocation.

In the fourth quarter of 2024, Pirelli left Praça Faria Lima (Faria Lima) to occupy Parque Cidade (Chucri Zaidan). Verisure also moved to Chucri Zaidan, leasing 6,900 m² at the end of 2024. In the first half of 2025, the company returned a total of 2,500 m² from its former headquarters at São Luiz – Blocks I and II (JK).

Another emblematic case was Netflix, which during the same quarter vacated 2,400 m² at Faria Lima Square (Faria Lima) to occupy 6,400 m² at Edifício OPI-07 (Pinheiros).

Tenant sectors

Currently, the financial sector accounts for the largest leased office area in the city (755,000 m²), followed by technology (347,000 m²) and telecommunications (176,000 m²). The most prominent districts tend to attract companies from similar industries, concentrating lease activity among comparable tenant profiles. This movement can already be observed across the regions analyzed.

Four of the six regions are primarily occupied by financial companies, led by Faria Lima — the country’s main financial hub — followed by Itaim Bibi and JK.

In this context, Pinheiros is consolidating itself as an increasingly attractive area for companies in the financial sector, opening the door for other emerging districts as well.

Upcoming deliveries

The future office pipeline in established districts totals 47,700 m², with no pre-leasing registered so far. Of this amount, 14,800 m² will be delivered in Itaim Bibi, while the remainder is scheduled for delivery in Faria Lima by the second quarter of 2027. No new assets are planned for JK.

The emerging districts analyzed, on the other hand, are expected to receive a total of 280,400 m² by the third quarter of 2027. Of this total, 116,800 m² belong to Pinheiros, which is already 64.64% pre-leased. Chucri Zaidan is expected to add 66,000 m², while Chácara Santo Antônio is set to receive 97,500 m².

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