Visión, pasión y creatiVidad - Inmobiliare

oficinasArq. Rafael Monroyy Lic. Mario NavarroThere is no doubt that Reforma and Polancoare claiming back their role as Mexico´siconic financial area, the Central BusinessDistrict by excellence. While other submarketssuch as Lomas and Santa Fe are reaching theirlimits since there is barely any land left for development,Reforma and Polanco are the preferreddistricts, once again favored to locatecorporate offices.On the basis that in Mexico City thereare close to 7 million square meters for officespace, Reforma and Polanco represent overone quarter of total existing inventory. A consequenceof their location, both districts promoteefficient performance for corporations astheir workforce has many access alternativesand enjoys public transport that can reach all ofMexico City´s metro area.Many developers bet on these two districts,having the support of the city´s Government,who brings tax and zoning incentives fordevelopers who invest in the area, particularlyover Paseo de la Reforma boulevard, which isrecovering its corporate looks of previous days.Reforma sectorReforma district has an inventory of almost800,000 square meters, which represents11.3% of Mexico City´s total and has an availabilityrate of 6.7% for class A buildings, whichreveals a healthy and highly demanded market,particularly by industries looking for visibility,convenient location and diversified amenities.The financial sector is first looking for top visibilityand proof of that is the location of mostMexican bank corporate offices over the Paseode la Reforma.In the next 12 months a significant increasein market activity is expected since there are180,000 square meters under construction thatwill be completed within the next 18 months.Absorption of under construction space has alreadybegun, as there is a growing number ofpre-lease operations taking place, looking formedium and large size spaces.Polanco sectorPolanco submarket represents 16.1% of MexicoCity’s total office space inventory and has closeto 1,130,000 square meters, being the districtwith the best amenities and means of access inthe metro area. Having a 9.5% availability rate,Polanco has extended its territory with the developmentof new corporate buildings in theneighborhoods of Irrigación, Granada, and Anahuacwhich are known as the “New Polanco”.Rental prices increased 12% in the lastquarter of 2010, and this tendency continued inthe first quarter of 2011, with an additional 4%increase.Both Reforma and Polanco submarketshave first generation projects boasting LEEDcertification, and many mixed-use projects,such as Antara Polanco, Torre Polanco, andPunta Reforma, that symbolize today’s growingacceptance of a demand looking for world classcorporate specifications.•106www.inmobiliare.com