With an inventory of close to three million square meters, Bogota stands out as the most important office market in the country and one of the most relevant in the region.
Insight
30 September 2024
Bogotá, Industrial, 1H, 2024
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Demand segments such as outsourcing services (BPO) and shared services centers have lost relevance as a consequence of the global economic slowdown, which implied a reduction in expenses and therefore, a decrease in the areas occupied by this type of companies. In contrast, in recent semesters demand has been driven by corporate headquarters and public entities. During the first half of 2024, more than 60,000 sq. m. were absorbed, of which close to 80% was concentrated in Prime offices, reflecting the appetite for this type of space in the city. On the other hand, average rents remained relatively stable; however, the gap between Prime and Non-Prime assets widened from 6% to 16%.