Properties developed by Grupo Argos contribute more than COP 150,000 million annually to the property tax revenue of Barranquilla

13 March 2024
  • Between 2014 and 2024, Grupo Argos has generated projects where more than 435,000 m2 of commercial space, more than 185,000 m2 of office space, more than 25,000 m2 of compensation fund facilities, and 1,164 hotel rooms now operate.
  • These developments today accommodate 2,900 school students and more than 12,000 university students, as well as 118 beds in the health sector.
  • Over the last 10 years, the company has paid more than COP 200,000 million in property tax and appraisals that have contributed to the development of the city.

Grupo Argos’ Urban Development Business has established itself as a driving force and ally in the growth of Barranquilla with real estate developments that represent annual property tax revenues for the city of more than COP 150,000 million. These funds strengthen the District Mayor’s office’s investment capacity in projects and programs for the well-being of the entire population.

Additionally, for the same concept and for the appraisal tax, Grupo Argos’ Urban Development Business has paid the District of Barranquilla more than COP 200,000 million in the last 10 years.

Among other positive externalities that add to the direct contributions of the organization are the enabling of 435,100 m2 of commercial space; 185,310 m2 of office space; 25,734 m2 of compensation fund facilities; 1,164 hotel rooms; and 118 beds in the health sector. These developments today accommodate 2,900 school students and 12,720 university students and have allowed the productive sectors attracted by Grupo Argos’s management to generate tens of thousands of jobs.

As a fundamental part of this management over the last decade, Grupo Argos has allocated land for more than 2 million m2 of public space in Barranquilla, effectively increasing it per capita from 1.5 m2 to 6 m2, thereby surpassing capitals like Bogotá and Medellín. This ratio of public space area, number of inhabitants, and urbanized area will continue to increase in Barranquilla with the construction of the new parks that are part of Grupo Argos’s project portfolio to be developed in this city.

“Today, there are tens of thousands of jobs created by builders, hoteliers, merchants, health and education services, and other productive sectors that now have business or real estate processes operating in Barranquilla. From Grupo Argos, we continue to contribute so that this city can truly prosper and offer opportunities for all its inhabitants, regardless of their socioeconomic background.”

María Clara Aristizábal Manager of the Urban Development Business of Grupo Argos