The Colombian capital has given the green light to more than a dozen projects that will improve the living conditions for its citizens in issues such as transport, social infrastructure, urban regeneration, water, and sanitation. Nine of these projects involve foreign investment.
Madrid, 5 March 2019. The development of infrastructure projects is one of the critical components of Bogotá’s strategy to attract FDI in 2019. This year’s package includes ten strategic works incorporated into the City Development Plan and will amount to 45 trillion pesos (about €13 trillion) in investments. The city’s Director of Urban Development, Juan Duarte, confirmed these figures this afternoon in a press conference organised by ProColombia and Invest in Bogota, also attended by Mónica de Greiff, President of the Chamber of Commerce of Bogota.
The city has been able to bring in foreign investment for the execution of infrastructure works thanks to its financial strength, economic conditions, fair and transparent procurement systems and the opportunity to create public-private partnerships afforded to the private sector.
“We work together with foreign companies to help them join forces with locals, transfer knowledge, and ultimately strengthen the market,” said Juan Gabriel Pérez, Executive Director of Invest in Bogota.
Part of these works will be executed under the PPP model (public-private partnership) which, according to the World Bank, has helped Colombia become the world’s third most competitive country and has increased the number of infrastructure investments and proposals. With this model and based on figures from the Mayor’s Office of Bogota, the number of bidders increased by a factor of six to seven, since specifications are being drafted to foster competition and transparency.
As part of its investment attraction efforts, Invest in Bogota has supported more than 40 infrastructure projects (including other subsectors such as hotels, logistics, and tourism), representing more than USD 550 million in investments and 2,500 new jobs for the city.
“The Colombian capital has become an innovation and development hub not only for the country but also for the South American continent as a whole. This time, and together with Invest in Bogota, we’re presenting investment opportunities in the infrastructure sector through public-private partnerships that will allow us to continue fostering the city’s growth. Our job is to inform, guide and support entrepreneurs who are interested in Colombia’s potential as an investment destination,” said Flavia Santoro, president ofProColombia.
These are some of the tenders expected to be awarded under the PPP model in 2019
New City Administrative Centre (CAD)
The new centre will group 14 city agencies that are currently spread throughout Bogota in a single location. The building will have 29 floors, almost 100,000 m2 of floor space and will house about 7,000 officials. The tender will open in the second half of 2019 and construction is expected to last for three years. Under the PPP model, the winning bidder will be awarded the concession to operate and maintain the centre for 22 more years.
Lagos de Torca:
Given that the number of households in the capital is expected to double by 2050, this project, located in the northern part of Bogota, aims to organize the city’s growth around a dream city model. The project is composed of 128,000 homes, a hospital, 38 schools, the 150-hectare Guaymaral Urban Park and 15 kilometres of linear parks.
Avenida Longitudinal de Occidente is a 24.5-km highway that will benefit the districts of Soacha, Bosa, Kennedy, and Fontibón. Expected to be awarded in September, the project will create more than 1,800 direct and indirect jobs.
Thanks to an investment of 248 billion pesos, this facility will support the city’s South-Western hospital network, which has the least number of beds and a limited capacity to treat chronic patients. The hospital will have 215 new beds and will offer medium and high-complexity procedures to more than 400,000 people. The tender will open in July and will be awarded in October of this year.
Calle 100 Mobility Hub
This development will involve the construction of 8,275-m2 of underground parking with a 400-vehicle capacity and a total overhaul of the area’s public space, which will include five soccer fields and stores and shops, among other amenities, for an expected investment of more than 135 billion pesos. The tender opens in May, and the project will be awarded in the second half of 2019.