Those passing through downtown São Paulo can already notice some differences in the city's oldest and most historic region. The efforts of the public authorities to revitalize the neighborhoods that make up the central region of Brazil's largest capital seem to be showing signs that investments, opportunities, and economic development are making a comeback.

The downtown area was the city's first corporate office region between the years 1900 and 1930 but lost prominence over the years with the rise of the Paulista Avenue region, starting in the 1950s, and later with the development of new areas that are now known as the main commercial real estate markets when it comes to corporate office spaces, such as Faria Lima, JK, Chucri Zaidan, Vila Olímpia, and others.

In May 2022, the city government implemented the Requalifica Centro program, which provides fiscal incentives to encourage the retrofitting of old buildings, with the main objective of increasing housing supply and fostering the investment environment within a 6.4 km² area.

Real estate developers have been investing in converting old commercial buildings in the downtown area into residential or mixed-use assets, focusing on high-income individuals. An example is the former 7 de Abril building from 1939, which was previously occupied by the former Telesp and will be transformed into a residential property. The focus of Requalifica Centro is to attract more residents to the neighborhoods, and of course, the changes and investments should reflect in the commercial scene.

Recent news is encouraging for the corporate office sector, with the bidding process for the Martinelli Building, the sale of the iconic João Brícola property to Sesc, which will become the administrative headquarters of the entity, and the relocation of Unesp to Atento República.

The SiiLA Market Analytics platform maps 861,791 m² of Class A+, A, and B corporate office spaces in downtown São Paulo, where the main occupying sector is Administration and Public Services, accounting for more than 31.7% of the office area in the region, followed by the Financial sector, which occupies 21.5%. Currently, the São Paulo Court of Justice (TJ-SP) and the Itaú and Bradesco banks are the largest tenants.