Office Report Bogota, 1S 2024
With a stock of approximately 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.
Segments of demand such as business process outsourcing (BPO) and shared service centers have lost relevance as a result of the global economic slowdown, which led to cost reductions and consequently a decrease in the occupied areas by these types of companies. In contrast, in recent semesters, the demand has been driven by corporate headquarters and public entities. During the first semester of 2024, more than 60,000 square meters were absorbed, of which approximately 80% was concentrated in prime office spaces, reflecting the appetite for this type of spaces in the city. On the other hand, average rents remained relatively stable; however, the gap between prime and non-prime assets widened, increasing from 6% to 16%.
