Monday 15 August 2022

Green commercial properties in Colombia receive $40m boost

A loan worth $40 million (£33m) has been announced to support the development of green commercial properties in Colombia.

Real estate investment trust (REIT) Visum will use the loan from the International Finance Corporation (IFC) to support its 2022/24 investment plan in green properties and its goal of becoming the first green REIT in Colombia.

Visum is the first company in Latin America to partner with IFC under the Green Pathways for Real Estate Institutional Portfolios (GRIP) initiative, which aims to support major real estate asset owners and tenants to define and implement decarbonisation and net zero strategies, with clear interim targets under the 'Pledge, Plan, Proceed and Publish' framework.

According to IFC, green buildings will represent a significant investment opportunity in emerging markets during the next decade – around $24.7 trillion (£20tn) by 2030.

Felipe Encinales, CEO of Visum Capital, Manager of Visum said: “We are very proud to be the first real estate fund in Colombia to have the backing of IFC for the long term financing of our investment plan. This support demonstrates our solidity, not only financially, but also in terms of management, having incorporated the highest international standards of operation and sustainability.

“The signing of this credit agreement is only the first step in the construction of this important relationship that we hope to continue deepening with IFC.”