Colombia. A figure of $850 billion pesos in real estate developments supports the new initiative of Grupo Argos and Conconcreto, important companies that came together to create a joint real estate company. This portfolio of projects includes works in the construction or licensing stage, including shopping centers and two office projects.
Likewise, the operations of the new real estate include 1,100 premises in 16 shopping centers, lease of a total of 46,337 square meters of office space in eight corporate buildings, twelve facilities for industrial use, and five hotels in Bogotá, Barranquilla, Neiva and Yopal, totaling 697 rooms.
Nicolás Jaramillo Restrepo, until recently vice president of Projects and Investments in Conconcreto and who will be in charge of the new company, spoke with the local media El Colombiano about the challenges that await them. Jaramillo said his short-term goal is to become one of the largest real estate investment funds in Latin America.
When asked about his main goals, the manager responded "to consolidate the human group to get the best out of a team that knows the business very well, creating a culture of an independent company. The second thing is to carry out an aggressive expansion plan with projects for 850 billion pesos in development, which will allow us to add assets of 2.7 trillion pesos in 2018."
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