Technology sector drives office market growth in the first nine months of 2025

The growth of the office market is evident. The return to in-person work remains a hot topic and continues to spark controversy — as in the case of Nubank, which dismissed 12 employees after complaints about the end of its previous hybrid model, which allowed only one in-person week per quarter, in favor of a new format requiring two days per week at the office. 

Recent data from SiiLA’s Market Analytics identified the sectors that most occupied and vacated office spaces during the first three quarters of 2025. The figures refer to the city of São Paulo, which concentrates the largest supply of offices in Brazil. 

The fintech stated that it intends to expand its physical presence, but the financial sector vacated 7,200 m² of Class A+, A, and B offices — the largest reduction in occupied area this year. 

This downward movement, however, was not widespread; it was driven by a single company: Bradesco. The financial institution vacated 32,000 m² at BSP Alphaville in the last quarter. Still, the financial sector overall has shown strong absorption levels. 

In the third quarter alone, major leases came from institutions such as XP Investimentos, which took up 4,000 m² in the Julieta Building. 

Other significant reductions were seen in the real estate (-6,700 m²) and insurance (-6,300 m²) sectors.