Global city formation, real estate economy and the transnationalization of urban spaces. The case of Mexico City
DOI:
https://doi.org/10.4067/S0250-71612011000200001Keywords:
global city, economic geography, real state market, urban planningAbstract
Since the 1990s, the office market in Mexico City has been fundamentally transformed. The available office space doubled since 1997 to 6.9 mill. m² with the first class segment capturing 80% of the construction activity. In addition, the geography of the office market has been altered, because new centers of property development have been created in the Western parts of the city. The paper goes on to argue that the transformation of the office market is basically driven by processes of global city formation, because ever more global corporations have a (regional) headquarter in Mexico City, what has caused a sharp increase in the demand for first class office spaces.
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