Colombia. According to Colliers International, in the next four years the inventory of shopping centers in Bogotá will increase by about 34% with the entry into operation of the projects that are under development and the opening of spaces in those that are under remodeling and expansion.
He warns that the city today has 14 shopping center projects under development, which will contribute to the inventory around 760,000 square meters in the next four years.
He adds that of the total square meters under development, 58% are on plans and the other 42% are under development.
By zones, it stands out that the location of these new warehouse complexes is estimated to be to a greater extent in the West corridor with 56% of projected area. They follow the South corridor (19%) and the North and Northwest with 13% and 12%, respectively.
This, he argues, "ratifies the limited possibilities of commercial land use, in some sectors of the city, however, the new renovation plans that have been advanced by government entities seek the development of new commercial spaces in sectors where the market is still underserved."
When reviewing the projects, a participation of new areas of remodeling of the existing shopping centers is noticeable.
Colliers notes that this behavior has occurred over the past four years in the city, where new areas attract new brands or increased traffic. That is the case of Plaza de las Américas, Unicentro and Metrópolis. In addition, it is estimated that in the next two years around eight shopping centers will be completed.
2018 closes the first quarter with an offer of 102,400 square meters, double that registered in the same quarter of 2017.
This behavior is the result of the growth of available spaces that have arisen due to new constructions in the city, as well as the economic unemployment of the country, which leads to the migration and / or restructuring of companies that are located within a shopping center, as well as the slow occupation of the openings.
