The Gilinski Group and Four Seasons Hotels and Resorts teamed up and announced plans this week for the management of two hotels in Bogota.
Fundamentals are improving across many office markets in The Americas, Asia Pacific and Europe as we head into 2015.
Commercial property markets in Caracas, Venezuela continue to be dealing with the headwinds of political and economic uncertainty.
The plan has become the most polarizing issue in a city full of polarizing issues.
Asking rents for offices in Caracas, Venezuela have skyrocketed, increasing 80 percent during the first half of the year
Melbourne, Australia, is the most livable city in the world, at least based on a complex formula devised by the Economist Magazine. Melbourne beat out Vienna and perennial winner Vancouver, primarily based on its infrastructure.
OMA, the architecture firm headed by Rem Koolhaas, has won an international competition to design a 680-acre mixed-used civic center for the Colombia capital of Bogotá, described as the largest institutional master-plan in Latin America in 50 years.
Investment activity in Central European commercial property reached €958 million in the first quarter of 2012, a six percent increase over the five year average, but down from €1.8 billion in the previous quarter, according to a new study.
South American real estate markets are attracting big-name American investors, with Brazil gaining the most attention. The Related Group, Donald Trump and Sam Zell are among the real estate investors looking to build residential housing and commercial space.
Vacancy rates in Colombia office space are falling, with demanding hitting record levels in some cities. Colombia's three main cities posted vacancy rates under 10 percent in 2012, all improvements from the previous year.
A new report from Jones Lang LaSalle labels Colombia as "one of the most exciting and dynamic lodging markets in Latin America." In recent years several top global brand have opened hotels, including the Bogotá JW Marriott and Hilton Bogotá, JLL notes. Other hotel companies, including Starwood and Hyatt, are forming alliances with local developers to build a variety of properties, the consultancy reports.
The growth of Colombia's real estate sector is having a strong impact on secondary housing markets. Following the rising price of new housing, used home (existing home sales) prices in Colombia have continued to increase and have now reached an historical high. According to a report by Portafolio, since the end of 2004 used housing prices have jumped 74%.
Driven primarily by new apartment construction, the Colombia residential real estate sector continues to expand. According to a report prepared by Colombia's National Administrative Department of Statistics, there were 19,021,270 square meters under development as at the end of the second quarter of 2012, a slight 2 percent increase over the first quarter.
W Hotels Worldwide recently announced it signed an agreement with Terranum Hotels to debut a new W Hotel in Bogota, Colombia. Slated to open in 2014, W Bogota will be a part of a larger mixed-use development, which will also include premium office space and high-end retail.