the market of prime offices in Metropolitan Lima It went from 253,000 m² vacant during the first quarter of 2021 to 298,935 m² in the fourth quarter, according to a report by Credicorp Capital Asset Management.
This increase is due to In recent months, the construction of three new buildings in the financial areas of the capital was completed.
As detailed by Credicorp, of the total, 218,000 m² are distributed in the submarkets of San Isidro Financiero (135,000 m² vacant), Magdalena and San Isidro Empresarial (31,000 m² each) and Miraflores (21,000 m²).
Recovery by 2025
Juan Francisco Aranda, Vice President of Real Estate Investments at Credicorp Capital, pointed out that Before the pandemic, the San Isidro Financiero submarket, the most important in metropolitan Lima, absorbed nearly 120,000 m² of demand.
Due to the hybrid model of return to offices, Aranda estimated that in the coming years the absorption will be around 60,000 m².
“We believe that by 2025 all this vacancy will already be absorbed,” he said.
Lastly, he explained that about 31% of the vacancy in this area is concentrated in five buildings: “Torre Panamá, Torre Forum, Torre Camelias, Plaza República II and T Tower”.
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