Office production declined significantly in recent years, from over 200,000 sqm in 2019 to only 36,000 sqm in 2024, reducing the supply of new assets on the market.
Insight
05 May 2025
Office Overview Bogota, Colombia 2H-2024
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The office market in Bogota continues to be marked by a shortage of space in El Norte. In Andino/Nogal, the sector with the highest demand for corporate headquarters, vacancy does not exceed 4,000 sqm. The shortage in the CBD drove absorption in decentralized corridors such as Centro Internacional, where projects such as Atrio attracted tenants thanks to their high construction specifications. In contrast, the El Dorado and Otros submarkets have 79,800 sq m and 87,000 sq m vacant, respectively.