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Beginning in 2006, Medellin has jumped into the spotlight of the international media. Moving from its troubled past and disturbing legacy, there has been a heightened awareness of the growth potential and incredible progress of Colombia's second largest city. This trend is highlighted by the recent high profile decision of the world's largest computer manufacturer, Hewlett-Packard, to locate in Medellin, their Latin American Service Headquarters that will employ up to 4,000 workers.
So why is main stream business starting to decide that Medellin is the next best place to do business? There are a broad range of reasons. There is a continuous flow of new information highlighting Medellin's and Colombia's real estate, business and investment opportunities. Articles about Medellin note the trend of economic growth, improved security, excellent technical support and infrastructure, cost effective and highly trained labor pool, positive social changes, low cost of living, superior health care, excellent climate and efficient transportation system. Outlined are a few of these highlights:
Economy: Medellin is one of the few economies in the world that is currently in a growth cycle. The economy is strong; the stock market has showed rapid growth over the last five years (despite the world recession). There has been a broad economic focus included textile, energy, flowers, tourism, medical industry, minerals, fashion and technology.
Why Medellin: Business And Investment
Transportation Infrastructure: Medellin offers a newly built International Airport, a world class, modern, clean and efficient Metro System,a multiple level bus system that services the entire city and a huge taxi fleet whose average cab fare is less than $4. Medellin also offers what may be the World's only Metro Cable System designed and used specifically to link towns and barrios in the outlying areas to the Metro Hub.
International Trade and Business: Medellin is home to numerous international conferences and events bringing together businesses, people and organizations thought the world. With a growing focus on international trade and a strong emerging middle class economy looking new products, trade
and business is on the rise in Medellin.
First Class and Affordable Health Care: Not only is the highest standard of medical procedures and services available to locals, there is an upswing of interest internationally for Medellin Medical Tourism.
Outstanding Real Estate Values: The current property values can easily be argued the lowest found anywhere in any comparable cosmopolitan, modern and progressive city. By the world standards Medellin offers extremely undervalued residential and commercial real estate on a cost per sq meter basis.
Opportunity to Hedge Against a Weakening US Dollar: From 2007 to 2010 the Colombian peso has led 42 major world currencies in gains against the dollar. Many believe this trend will continue with the massive US debt and huge negative trade imbalance. Investing in Colombia is one way to help hedge against a declining dollar.
Technology Infrastructure: Many IT companies are starting to come to Medellin and technical outsourcing is on an upswing. With its excellent Internet speed and access Medellin is attracting more and more IT professionals who wish to live and work in a vibrant cosmopolitan city.
Tourism and Retirement Growth: Medellin is home to world class hotels, resorts and affordable first class real estate. Medellin is now becoming a major tourist destination as well as a retirement option for foreigners.
Life Style and Community: Medellin is located in the state of Antioquia and its inhabitants are known as Paisas. Visitors are always welcomed by a smile and a "como estas". The warmth of its residents is complimented by Medellin's year around spring time climate. Medellin is known as "The City of Eternal Spring" and its residents have only one clothing decision to make each day -- "short sleeves or long sleeves"
For these reasons and more, the Team at First American Commercial Realty Medellin encourages you to explore the community, culture, lifestyle, and investment opportunity available in Medellin. Bienvenidos a Medellin! Come and invest and live in Paradise
Building Design and Construction: With modern building designs and a recent building spurt, the quality of construction is first world, not third world. The "Golden Mile" in El Poblado boasts some of the most sophisticated office high-rises, shopping malls, and structures in the world.
University and Education System: With as many universities as Boston, Mass, Medellin offers a quality university system that turns out highly educated and affordable graduates for both local and international businesses to cost effectively build their companies. The technology partnerships with Hewlett-Packard and two of Medellin's top Universities highlights this fact. International companies are discovering that they can employ superior talent at 1/3 to 1/4th the cost of Europe and North America.