Latin America. Colombia is considered one of the most attractive countries to invest in Retail in Latin America, at the moment it leads in this sector over countries such as Brazil, Argentina or Chile, due to its natural population growth in main and intermediate cities, a wide segment of the middle class, and lack of new proposals in infrastructure for the commercial sector.
Since 2016, the North American investment fund Avenida Capital, based in Colombia, is developing what should be the fourth largest shopping center in the country: Paseo Villa del Río, which will be located in the south of Bogotá, for the first time a project of a magnitude greater than 72,000 m2 of GLA, it will be carried out directly in its structuring and development by an investment fund and not by a traditional developer of shopping centers.
It is important that investment funds have an investment mix , it is not advisable to specialize in a single type of activity, because the members of the fund themselves establish different requirements and guidelines to manage capital.
When making an investment decision in a commercial project, it is important to take into account: First, the location of the project, knowing the requirements and needs of the area is fundamental, in the case of Paseo Villa del Río, the community did not have green spaces, nor entertainment and meeting points. Second, corresponding rules and permits, having peace of mind about the nature of the lot, and a license process in process facilitates when choosing the project and executing it, and finally the corresponding market studies that determine the commercial potential.
In Colombia, there are still opportunities to generate growth in the commercial area; however, in cities like Bogotá there are few options left to carry out large projects and the alternatives will migrate towards the more medium and convenience trade, Paseo will probably be the last shopping center of that magnitude to open in Bogotá.
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