OFFPLAN NEWS

(06.08.2007 )
Property in Colombia Colombia the fourth-largest destination for Chilean foreign investment

Between 1990 and the first quarter of this year, Chile has invested 1,580 million dollars in real estate in Colombia.
Chamber of Commerce sources announced today that total foreign investment by Chilean companies reached 527 million dollars in the first quarter of this year, up 25 percent from the same quarter last year.

According to a study by the Santiago Chamber of Commerce (CCS by its acronym in Spanish), Latin America continues to be the main destination of Chilean investment, representing 67 percent of the total reported.

Some of the investments in these countries include energy projects, acquisitions of industrial companies, opening of new stores and shopping centers, and investments to develop local credit markets, said CCS.

Argentina was in first place in terms of receiving investments, with total flows of 14,821 million dollars between 1990 and the first quarter of this year, accounting for 48% of total investments.

Brazil is second, with Chilean company investments of around 4,500 million dollars (15 percent), followed by Peru, with 4,188 million dollars (14 percent).

Colombia and Venezuela, with 5 and 4 percent of the total, respectively, complete the list of the main destinations in the first quarter of this year.

According to the CCS report, the energy sector is now again in first place, alter having lost the position for several periods, representing 60 percent of the total, worth 317 million dollars.

Meanwhile, the retail sector, which has been one of the fastest-growing in recent years, reported investments worth 32 million dollars, equivalent to 4 percent, and Colombia and Peru are some of the greatest receivers.

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