As construction activities regain momentum the real estate market has closely followed, driven primarily by a strong demand for housing and a healthy mortgage system granting access to property over a long-term period. Most indicators suggest the market is coming to a mature stage where booming numbers are not the only positive signs. Nonetheless,...
Public-private partnerships (PPPs) are no novelty in Colombia’s efforts to develop its infrastructure network. Since the early 1990s, a number of projects have been awarded under contractual structures that were amended with each “generation” – currently fourth – of public contracts on offer. However, for a number of reasons, the models have failed...
Immeasurable is the word Jorge Enrique Gómez used to describe the future of Colombia’s Atlantic coast. The president of regional real estate association Lonja de Bogotá, Gómez told OBG that the strip connecting Cartagena to Santa Marta holds large development potential and will no doubt receive an influx of national and foreign investment in the...
As part of the overhaul in the country’s approach to infrastructure development, the National Infrastructure Agency (Agencia Nacional de Infraestructura, ANI) was created in November 2011. ANI was established to replace the National Concessions Institute, which had fallen into disrepute following several corruption-linked accusations. The new agency...
Closely tracking patterns in the general economy, the construction sector expanded by 3.6% in 2012, significantly lower than the 10% gain in 2011. Even so, prospects for 2013 suggest the sector will regain momentum, driven by aggressive government spending programmes aimed at closing wide gaps in infrastructure and housing. Contributing 6.3% to GDP...
A common complaint among Colombian transporters is that bringing goods from Bogotá or Medellín to the port of Buenaventura is more expensive than shipping it to or from Tokyo. High transportation costs have become so institutionalised that they are often likened to a 10% to 15% tax. While Colombia’s geographical layout has always been challenging to...
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