The tallest building in Bogotá, the South Tower of Bacatá is for sale

On Monday morning it became known that the tallest building in Colombia, the South Tower of Bakata, was put up for sale. The hotel and residential project has 67 floors. According to what the developer informed, the sale is carried out to compensate for more than 2000 investors who have a fiduciary law.The building, by agreement under the conditions, will be sold as it stands today; that is, the one who buys it will be responsible for the completion of construction of 30% of the structure that requires the project.

What Pablo Trujillo, President of Acción Fiduciaria, told W Radio, is that there are already two firms interested in acquiring impressive property. Although he did not give names, he stressed that this is a foreign investment fund and construction company.Both companies have a period of 30 days to collect the relevant proposals, and from there it will be determined whether there is interest in any of them. days.

The history of this structure dates back several years. Around 2008, a brief description was published that the future existence of the BD Bacatá tower, a structure that would exceed the height of the popular Colpatria tower, which , in its description, will become a “big infrastructure mega-project of the future”. The tower, originally, was intended as a space for 404 apartments with an area of 39 square meters on 112 square meters.

In 2009, however, a year after the promises, the problems began to be haunted. Through crowdfunding, involving more than 4,200 investors, fiduciary rights were acquired for profit after the project was delivered, in those days, then an investment of more than $20 million was made. Works began to be built in 2011.

By 2018, when the work was already significantly advanced, Venerando Lamelas, then president of the BD Promotores partner group, assured that a mistake was made since deadlines were set that would eventually be unlikely to meet, in other words, impossible. will be finished 100%, however it was built only a little over 50%. For this year, in fact, 2022, the work completes only 70% of the final completion.

In 2019, in addition, a lack of resources led to the construction company that started the project, Prabyc Ingenieros, to get away from its work and Aluman to start its work. “When the money for the project ended, we did not continue. When the developer was liquidated, we were left for $25 billion (...) Bacatáalready 60% delivered, homes and offices are working, the shopping center too” and added that “the only thing that really remains to finish is the hotels,” said the firm to spokesman Diego Fernando Prada, Prabitsa's partner, in the testimony, rescued La República.

More than $20 billion was in debt, so with hiring Aluman to complete the work on the facade in addition to the south and north tower. Expenses, then, will be covered by assets. In November 2021, several investors who contributed their savings or pensions to the property complex stressed that for more than a decade they had not received returns from their investments , while the decision of the liquidator appointed by the company's supervision is expected to decide whether to announce investors creditors or not.

“Among the decisions that the liquidator would have to tell the owners of trusts that they are not creditors but depositors contradict what confirmed the financial supervision of Colombia, generating a new train accident; their hotels and commercial areas belong to them with autonomy over their assets. This would be most convenient for us,” said one of those affected before RCN radio.

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