2024-01-23 02:45:00
Giacomo Sissa, CEO of Urbanova, highlighted that the vacancy of the offices of said company was below (between 8% and 10%) the market average at the end of 2023. Thus, on Begonias Street, he said that there are around 15,000 “office workers”, opening opportunities for new initiatives.
In detail, he announced that the aforementioned corridor – which today already houses banks, the International Clinic, the Westin hotel and shops – will be consolidated in 2024 with new modern retail proposals. In this cluster, which will connect Begonias with Paseo de la República, 11 more stores will operate in a total of 1,400 square meters (m2).
“We have evaluated what the area needs and there are already three new restaurants, two cafes, two food modules in the plaza, an organic store, fashion, a bookstore, a jewelry store and a convenience store already committed,” he told Gestión.
Likewise, he detailed that the announced Begonias “food hall” will begin operating in the fourth quarter of 2024, incorporating 14 gastronomic concepts focused on new experiences. The project will be developed on 1,600 m2 on the first level of an office building, with a capacity for more than 300 people.
Due to the mix of the proposal, the company aims for an operation from the early hours of the morning until the weekends.
READ ALSO: Urbanova defines new openings on La Rambla and begins to compete in flexible offices
Last opening of “Flex”
Three months after announcing its foray into the flexible or co-working office segment with the “Flex” concept, Urbanova is already preparing the final details for its opening in March 2024. The proposal will occupy 4,000 m2 of offices released in the 2023, also on Begonias Street.
“The companies that are going to occupy this space are clients that today are in the process of expansion or have not yet defined whether they are going for a traditional office or require shorter contracts, where they do not worry about operating the office, but about being productive,” he noted. Sissa.
Thus, he hoped to begin the operation of the space with a “healthy” occupation. Although “Flex” will allow them to test the concept of co-working, the executive specified that it is still too early to anticipate that it is the starting point for more projects of the same type.
READ ALSO: Prime offices: How do they close the year and what changes are expected in the medium term?
La Rambla and Urbanova hotels
Asked about Urbanova’s other businesses, Sissa highlighted that the La Rambla shopping centers in San Borja and Breña operated with a vacancy of almost 0% at some points in 2023. In general, he said that modern retail sales continued to recover after the fall. due to covid-19, but the pace slowed down due to the recession in recent months.
Meanwhile, the flow of visits on La Rambla has not yet returned to pre-pandemic levels (2019). In this situation, he stated that the challenge aims to continue improving the commercial mix, with entertainment concepts.
Regarding the expansion of the San Borja headquarters, he mentioned that the opportunity is still being evaluated. Meanwhile, they do not see alternatives to replicate the format in new areas.
And regarding the hotel business, the executive acknowledged that occupancy in 2023 was “quite low”, in a situation similar to the sector due to a slow recovery after the pandemic and the impact of social mobilizations after the last change of Government. In recent months, he highlighted a certain improvement in reserves and hopes to maintain the trend in 2024.
In this way, he remained optimistic that the income and occupancy of the hotels (five in Lima, three in Cusco and one in Paracas) will approach the levels of 2019 and will finally reach them towards the second half of 2025. The expectation considers a solid response from domestic tourism and a social climate that allows attracting foreign visitors again.
READ ALSO: Urbanova prepares expansion for La Rambla de San Borja and new prime offices
IN SHORT
Projection. For Urbanova, the recovery of the office rental business and others was attenuated by the performance of the hotel division, thus reaching a “flat” balance or without growth in 2023 compared to 2022. However, the company is confident precisely that the The rebound in this last activity drives income growth in 2024 above the estimate for the Gross Domestic Product (3%).
THE AMOUNT
170,000
Urbanova has square meters of office buildings with 90 clients in Lima. In 2024, the company does not plan to add new spaces to this rental inventory.
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