Environmental certifications play a crucial role in the commercial real estate market by promoting the adoption of sustainable and responsible practices in the construction and operation of corporate spaces. In Mexico, approximately 34% of offices’ gross leasable area (GLA) has sustainable features, according to data from SiiLA Market Analytics. However, the number of properties with sustainable characteristics is increasing. An example is the nationwide increase in office properties with LEED certification granted by the U.S. Green Building Council (USGBC).

Over the past ten years, the number of LEED-certified offices in Mexico has increased by more than 3.5 times, according to SiiLA-analyzed USGBC data. Currently, there are at least 285 corporate properties with this international recognition, in addition to 240 in the process of acquiring it. Moreover, while the USGBC received an average of 13 yearly certification requests in 2008-2012, the proportion increased to 39 in 2009-2022. These data indicate that environmental criteria have gained greater relevance in developing and managing office projects over time.

Buildings such as SAMARA Towers A, B, and C (LEED Platinum) in the Santa Fe submarket and Torre Mayor in the Reforma submarket (LEED Platinum and WELL) in Mexico City are examples of buildings certified during the first quarter of 2023. These properties owned by FIBRA Uno (FUNO) exemplify the importance of institutional investors in urban sustainability development. In fact, nearly half of the office area developed by Mexican REITs (or FIBRAs) is environmentally friendly, according to SiiLA.

It is also important to mention that mixed-use buildings promote environmental certification. According to Market Analytics, around 64% of offices’ GLA in mixed-use properties has sustainable features. These buildings integrate corporate spaces with complementary uses such as commerce, entertainment, and residential to create attractive and vibrant urban ecosystems.

Environmental certifications contribute to conserving natural resources, reducing greenhouse gas emissions, and mitigating climate change, but they also generate significant economic and social benefits.

In economic terms, certified buildings can reduce long-term operational costs by being more energy and water efficient. Additionally, these properties tend to have a higher value in the market, resulting in higher rental or sale prices and a more favorable return on investment. In this regard, SiiLA Market Analytics’ data indicates that the average market price of LEED-certified offices is 7% higher than that of non-certified spaces. This difference increases to 9% for offices in mixed-use buildings.

Regarding social benefits, environmental certifications help improve the quality of life for occupants by providing a healthy and comfortable environment. They also contribute to job creation in sustainability-related sectors and promote environmental awareness among companies and people.

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