The geographic location of companies is a strategic decision. This decision will depend on certain factors that can favor or harm the present and future economic activity.

According to our market studies and years of experience in the sector, one of the determining factors in the decision making process of companies for the location of their offices is the geographical location in the city.

We have been able to determine in our studies and analysis that location represents around 45% of the weight in the decision making process, above other factors that one would consider to be more decisive, such as price, which only represents 13%.

Clearly we know that this is a totally rational decision, where there are many decision makers even reaching the Board of Directors of the companies, who after having made several analyses and having gone through the market analyzing the best option according to their needs.

Case study, at some point during the commercialization of an office project in the city of Bogota on the 26th Street corridor (El Dorado Ave.), and knowing that our studies and the experience of many years in the sector, the location preference of the private The marketing of the asset became a challenge when trying to bring companies from the north to the west of the city (26th Street), so a strategy was created to identify those companies for which the 26th Street corridor was the north, and it was successful.

Now, according to the surveys conducted and reaffirming what was expressed, the aspects that weigh most in selecting a new office are easy access to customers and employees, availability of parking and environmental aspects. Other preferred characteristics are the proximity to Transmilenio, the quality of public space and the proximity to restaurants and fast food outlets. On the other hand, what is less important for respondents is the price (13%).

Access to communication networks, natural ventilation and indoor environmental quality are the attributes of the offices themselves, ranked as very important by the businessmen surveyed.

Thus, when conducting market studies to determine whether an office project is viable, the determinants of demand are other than price, as the slogan of a current marketing project states… location, location, location.

Gustavo de la Torre Muñoz – LATAM Real Estate Director