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Bogota, ideal for investments in construction materials

May 24, 2013
  • Interesting challenges are underway for local industries, on account of infrastructure projects being created by the City Administration. 

  • The capital of Colombia has significant real-estate and infrastructure allure.

  • One of Bogota's priorities is to attract companies that can provide technology and knowledge, and complement a specialized local value chain.

  • The City Administration is currently defining a portfolio of projects to be designed, built, and operated by private companies.

The 12th version of Expoconstrucción (Expo-Construction) and Expodiseño (Expo-Design) led by Camacol, which was held in Bogota, brought together some of the main national and international stakeholders in the industry, and ratified some of the advantages that have made this city an ideal destination for foreign investment in construction materials.
 
Juan Gabriel Perez, Executive Director of Invest in Bogota, stated:  "We are experiencing interesting times for the local industry, due to the city projects to be generated in the near future.  One of Bogota's priorities is to attract companies that can add their technology and knowledge, and complement a specialized local value chain. The City Administration is currently defining the city portfolio for projects to be designed, built, and operated by private companies. Under this scheme, mega-projects such as the Bogota Central Station could become a reality in the near future. This project, specifically, will help renovate the area between Carrera 13A and Transversal 17, and 24th and 26th Streets, which will spawn one of the most modern and commercially attractive real-estate complexes in the city. A total of 234,000 m2 of housing, commerce, hotel, equipment and parking facilities will be built, as well as 17.000 m2 of public space and 18,000 m2 of transport infrastructure ".
 
Perez continues:  "The city's geographic location, its active population of 4 million inhabitants, its significant real-estate and infrastructure projects, and its high domestic product -larger than whole economies in Latin America such as Ecuador, the Dominican Republic, Guatemala, Uruguay, Costa Rica, Panama, Paraguay and Bolivia- among other factors, make the city a perfect place to invest and do business in. Companies located in the Capital City have access to a domestic market worth 365 billion dollars, and a global market worth 41 trillion dollars.
 
The Director of the investment promotion agency for Bogota, adds:  "A significant number of foreign companies have already invested in the construction materials industry in Bogota, such as Belgian industrial holding Etex Group, which invested in Cerámica San Lorenzo, French multinational Saint Gobain, which purchased Vidrio Andino, Mexican group Mexichem, which acquired PAVCO, Portuguese Prebuild, Swiss companies Sika and Holcim, and Brazilian Tiger, among others.
 
Close to one million square meters are developed in corporate and commercial real-estate infrastructure in Bogota every year, and since January, 2013, the approved area for housing in Colombia reported a 13.5% growth.  The city's outlook is driven by the positive moment Colombia is experiencing at this time: the sector grew nationally by 2.9%, and employed close to 1.3 million people in 2012.

Know more about the construction sector in Bogota