March 24, 2023

The entry of new companies represented 30% of the office occupation in Porto

The new office buildings with sustainability certifications in the pipeline promise to "welcome even more companies and reinforce the position of the city and the region as a technology destination, strengthening the office market and boosting the regional economy," according to Predibisa.

The entry of new companies represented 30% of the office occupation in Porto

Last year, the office occupancy in the city of Porto grew to 58,493 square meters. 30% of this area is related to the entrance of new companies in Invicta.

According to Predibisa's OnOffice report, the demand and dynamism in the Porto office market continued in 2022. This volume represents an increase in the number of transactions from 63 in 2021 to 76 in 2022.

Graça Ribeiro da Cunha, responsible for Predibisa's Offices & Retail area, highlights that "the creation of collaborative platforms such as Greater Porto, by the municipalities of Matosinhos, Porto and Vila Nova de Gaia, in order to promote better interaction between cities in terms of tourism, business and technology, have boosted the office market in the northern region, making the region stronger with these synergies in various areas". On the other hand, the completion and rehabilitation of several office buildings with BREEAM and LEED certifications is scheduled for this year, which promise to "welcome even more companies and strengthen the position of the city and the region as a technology destination, strengthening the office market and boosting the regional economy.

She points out that "over the last year, there were several factors that led companies to seek new office space, from changing facilities and the need to expand the area, with each of these factors motivating 35% of the area placed, followed by attracting new players to the region representing 30% of the area absorbed.

September May and April were "the best months of the year in terms of area absorbed with about 29,500 m², more than half of the total area placed in 2022". Matosinhos was the zone that stood out in 2022, with 34% of the total area placed (19,805 m²) and 22% of the number of transactions registered in the year-to-date (17 out of 76). It is followed by the CBD Baixa zone with 17,933 m² placed and 12 operations, the CBD Boavista with 10,122 m² and 22 operations, the ZEP with 4,276 m² and 10 operations, Maia with 3 operations and 1,935 m², and finally Vila Nova de Gaia with only 2 operations and 468 m².

It should be noted that companies connected to the "TMT's & Utilities" sector were responsible for most of the occupied area (49%), followed by "Business Services" with 16%, "Financial Services" with 13% and "Other Services" with 11% (entities connected to "Pharmaceuticals and Health", "Consultants and Lawyers", "Construction and Real Estate" and "Consumer Products".