São Carlos says companies want to keep office spaces

The convenience centre segment has gained a share in the business of São Carlos Empreendimentos e Participações and will continue to grow, according to the company's president, Felipe Góes. According to the executive, with the measures of social distancing that resulted in restrictions on the operation of shopping centres, retailers began to seek to expand their operations to other types of properties.

São Carlos operates in convenience centres through the Best Center subsidiary.

Currently, there are 39 projects in the segment in operation. Only with what is already part of the portfolio, the number will grow to 55, considering three pre-operational convenience centres, one under construction and eight projects not yet developed, but for which there is land already leased. The company hasn't disclosed the expansion planned for the coming years.

In the office segment, São Carlos' main activity, the vacancy rate increased from 17.2%, from January to March 2020, to 19.8% in the first quarter. The increase in the indicator reflected in the acquisition of three floors of the Morumbi Office Tower in São Paulo. During the acquisition, two floors had been occupied, and the other vacant.

"We have a resilient corporate portfolio, with assets that are very well located. Companies are using offices less, but they want to keep spaces," says Góes. Demand for areas has stabilised over the past 12 months, according to the president of São Carlos. "We expect an increase in demand in the second half, due to the increase vaccination against COVID-19 and the consequent reduction in the impact of the pandemic on public health," says the executive.

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