Colombia The reputation. The fame. Well, this once infamous country is now living up to the hype, however, for reasons that some may never have expected. Colombia, and in particular the cosmopolitan paradise of Medellin, is becoming one of the America’s hottest destinations both for tourism as well as foreign investment. The latest figures from the government boast over a 20% Increase in tourism. Once you have the opportunity to visit, it will not take long to understand why. The city of Medellin is breathtaking, as you come down from the Rio Negro International airport high in the hills above the city, and begin to get a glimpse of one of the most impressive skylines in the world. Medellin sits in a valley surrounding by impressive mountainsides, creating a beautiful surrounding, and boasting one of the world’s best climates, leading way to one of it’s many nicknames: “The City of the Eternal Spring.” The city offers one of the most advanced and developed systems of infrastructures, allowing the near 4 million habitants to transport from north to south, and east to west with ease and at extremely affordable rates. The public bus systems, taxis, and of course, the metro rail system are leaders in both South and Central America, and representatives from Medellin often travel to countries like Panama and Costa Rica offering advice and guidance in public works planning. El Poblado After spending any time in Colombia, it will not take long to be attracted to the area of El Poblado, the most affluent and advanced suburb of this Andean city. The Poblado sits on the southeast edge of Medellin, nestled in the hillside and overlooking the entire valley and city of Medellin. The area offers a level of amenities, luxury and peace that parallels almost any city in the world, from endless national and international cuisine, shopping, hospitals, and the most affluent residential sector of the country. The area of Poblado encompass over 1300 hectares, and accounts for nearly 39% of the land area in Medellin, and there is no doubt that this area has become the center of attention for investors and tourists alike. The area of el Poblado arose in the 1970’s as a high class residential sector, however, has quickly become a “second” city in and of itself combining the best of all mixed uses from the finest residences, to the most attractive corporate headquarters, and of course, all of the commerce to support both of these sectors. Truly a cosmopolitan atmosphere combining the best of this latin culture, with the convenience and advances of modern western world. Two of the more famous areas in El Poblado are the Zona Rosa/Parque Lleras, and the Milla de Oro. The Parque Lleras has become very popular over the past few years as a central gathering place, offering an abundant variety of bars, restaurants and entertainment, each with its own theme and décor. The ambience is extremely friendly, and the mere variety of options, with the focus on the outdoor plazas, and terraces has made this park and surrounding businesses a center of the Medellin nightlife, and a contemporary icon of the city of Medellin. The Milla de Oro, or Golden Mile in English, is a long stretch of iconic hotels, restaurants, parks and office complexes creating an impressive mini skyline in the Poblado. Although the area can be appreciated in a vehicle, undoubtably the best way to view this iconic setting is walking along the ample sidewalks and taking in the view. Other areas of interest and rapid growth are Envigado and Sabaneta, both further to the south from Poblado, as well as the area of Belen. Additionally, two other areas of rapid growth are the areas surrounding Rio Negro, due to the amount of air traffic to this international hub, as well as Llano Grande. Both offer a more country feel than the bustling city of Medellin, with breathtaking scenery and countryside. Truly, the area of interest will greatly depend upon your investment criteria, however, as the text aboves alludes, most foreigners find themselves most comfortable, and the best opportunities in the sector of the Poblado. Investment As the world slowly learns about the beauty and attraction of Colombia, the opportunity for investment continues to grow and there is no time like now. Like Costa Rica in the early nineties, Colombia is witnessing an alarming rate of growth and direct foreign investment. In real estate, as we all know, timing is everything and the key to making or breaking your investment. Colombia currently offers the perfect combination of the ideal timing for investment, along with an advanced infrastructure, security, and overall healthy investment climate. There is a wealth of opportunity waiting for foreign investors right now both with regards to appreciation over the coming years, as well as immediate returns on investment through cash flow properties. With direct flights on the rise to Colombia from places like Panama, Ft Lauderdale, Miami, New York, Madrid, Caracas, Santiago de Chile, Lima amongst others, the amount of tourist and commercial traffic that will be brought into Medellin over the coming years is likely to catapult Medellin on the international investment map |