2. Sabemos Cómo
With a strategy which is based in promoting
Colombia’s economic growth, Profesionales de Bolsa
impulses the new way of doing business, under the
creation of its Private Equity Funds, successfully
administrating a figure greater than COP
$550.000.000.000.
Under its private equity fund Real Estate Value,
Profesionales de Bolsa will develop an ambitious
industrial project with a very large scope in logistics
and industrial processes, being the first in its type in
Colombia: “Polígonos Industriales de
Colombia” . (Colombian Industrial Parks)
3. Fondo Inmobiliario
Sabemos Cómo
Private Equity Funds
Real Estate Value is under the vehicle of a private
equity fund, being a novel way to do business in
Colombia by being an investment vehicle which
allows the participation of plenty of investors in a
same project and throughout its whole value chain,
expecting to obtain superior profits than the market
average.
Advantages:
• The fund’s equity is legally separated from the
assets of the Administrating Society, protecting
therefore its assets
• It’s controlled by the “Superintendencia
Financiera de Colombia” (the Colombian
equivalent of the SEC)
• It’s a vehicle for collective investment, allowing
for considerable economies of scale and scope
4. Fondo Inmobiliario
Sabemos Cómo
4
FCP
Polígonos Industriales de Colombia
Monitoring Committee
Comité de
Inversiones
Tax Auditor
Sociedad
Administradora
Gerente
Contratistas
Authority Control Órganos de Administración
Asamblea de
Inversionistas
Junta Directiva
Estructura del fondo
5. Fondo Inmobiliario
Sabemos Cómo
5
The Fund is a channel for providing logistics that can give support to an
industrial ecosystem in Cartagena
Contains:
High impact industrial zone, logistics areas,
commercial areas, offices, hotel, dry port, mall
Location:
Cartagena.
Bolívar State, Colombia.
During the end of the funds duration period, a redemption of participations is generated in favor if
investors through the sale of its assets
.
Duration:
10 years– 3 years in development
Total Investment:
$238.000.000.000
Fund’s Objectives:
• Terrain purchasing
• Urban development
• Sale.
Development area:
Total project area: 3.963.000 mts2
Selling area: 2.627.100 mts2
Construction starting date:
July 2015
Estages
Estage 1: July 2015 – July 2016
Estage 2: July 2016 – July 2017
Estage 3: July 2017 – July 2018
* Warning: The obligations of the administrating society are medium based and not result based.
Investment minimum: 5.000.000.000 COP
General Facts about the fund
6. Sabemos Cómo
Fondo Inmobiliario
6
PIC Characteristics
The PIC has been design on a 396,6 hectares (3.96
million square meters / 13.011 million square feet).
The land would be transform in to 19 blocks. The
blocks are distributed by the following criteria: 17
blocks are destined for industrial uses and the other
two will became an eco park. In addition the complex
will have a perimeter forest for environmental
protection which covers 16,3 million square meters.
The main purpose of blocks
• High impact industry / general industry.
Secondary purpose:
• Gas Station
• Hotel
• Medical area approved it by Colombia authorities.
• 18 wheeler truck parking lot.
• Commercial area.
8. Sabemos Cómo
Fondo Inmobiliario
8
PIC construction stages
Development process
Stage Total extension (Ha) Available area(Ha)
1 86,27 60,83
2 116.07 81,85
3 198.15 136,69
Total 396,3 279,37
9. Fondo Inmobiliario
Sabemos Cómo
El Bosque pier
Inter. Airport
Contecar pier
TLC Cartagena
Reficar
Terminal Marítimo pier
From the PIC to:
Airport (Carretera i90 Via Bayunca, entrando
por el barrio Olalya Herrera carrera 50A
)……………… 20.7km
Maritimo Terminal pier (Carretera i90
Via Bayunca, Transversal 54 luego diagonal
22) ……….18.3km
El Bosque Piers (Carretera i90 Via
Bayunca, Transversal 54 luego diagonal 22,
diagonal 21) ……… 17.2km
Contecar pier (Carretera i90 Via Bayunca,
Variante Mamonal hacia Cartagena Carrera
56)………… 14.1km
TLC Cartagena (Carretera i90 Via
Bayunca, Variante Mamonal) …………
17.5km
Reficar (Carretera i90 Via Bayunca,
Variante Mamonal)………………..
19.9km
10. Fondo Inmobiliario
Sabemos Cómo
Advantages of its location
Bayunca
The project´s location allows it to be close to some
of Cartagena´s main developments, as are its airport,
seaport and the Cartagena Oil Refinery (Reficar),
while keeping a prudent distance form Cartagena´s
urban development, which´s long term growth
would limit the project´s optimal functions and
efficiency.
The fund´s location is at a strategic point on La
Cordialidad road, which allows connections with a
various national highways such us:
Variante Mamonal – Gambote: Allows the
acces to the Mamonal industrial area.
Occidente Highway: This strategic highway
connects Colombia´s Atlantic Coast with the center
of the country.
Vía al mar highway: It is the highway that
connects all the Caribbean coast region and with the
Sol highway which is the most important road in the
country as run by its center.
11. Fondo Inmobiliario
Sabemos Cómo
PIC Advantages
• Tax benefits
• Privileged location with access to different national
highways such us: La Vía al Mar highway and Variante
Mamonal – Gambote highway.
• The project location has a prudent distance from
Cartagena downtown and industrial poles, thereby
diminishing the provability to lose competitiveness
• Lands with natural soils what's makes them very stable,
allowing to reduce the foundations cost.
• Industrial complex with high technical specifications.
12. Sabemos Cómo
Fondo Inmobiliario
12
Tax Benefits
According with the 022 de 2014 agreement from the council of
the Municipio de Santa Rosa-Bolívar, the PIC has the following
tax benefits:
Commerce and industry tax:
The companies that stablish them self in the PIC would be
exempted for paying the commerce and industry tax to the
municipio of Santa Rosa, Bolivar. This benefit will spire ten
years after they register the company in the municipio de Santa
Rosa city hall.
Delineation urban tax:
The lands that would be sell inside the pic are exempt from the
delineation urban tax. The delineation tax is required to transact
the construction and urban license.
13. Sabemos Cómo
Fondo Inmobiliario
13
Tax Benefits
According with the 022 de 2014 agreement from the council of
the Municipio de Santa Rosa-Bolívar, the PIC has the following
tax benefits:
Real estate tax:
The properties that conform the PIC are exempted for paying
the real estate tax under the following conditions:
A. Lands identifying for a commerce or service purposes, or
agro-industrial production purpose will be excepted until 2025.
B. Lands identifying for industrial, commerce and services
purposes, will be excepted for ten years since the moment
when they registered their company in the municipio de Santa
Rosa de Bolivar city hall .
14. Sabemos Cómo
Technical project characteristics
Access ways:
Main access roads with dual carriageway having the capacity to
withhold any vehicle including 18 wheeler trucks according to the
law and INVIAS (C353).
Secondary roads in single carriageway, 11 meter wide, with the
capacity to withhold any vehicle, including 18 wheeler trucks
according to the law and INVIAS (C353).
Deceleration lane and maneuvering area according to town law.
Complementary:
Scale for weighing large vehicles, 80 tones capacity.
Administration building and entrance building
Would be equipped with access control systems, security office,
maintenance & support office and classrooms designed to give
capacitation's for the PIC users and workers.
15. Sabemos Cómo
Technical project characteristics
Public services:
Sewage and waste disposal systems – with pond and canal
infrastructure, storage tanks and treated water pond.
Water treatment plants for both human consumption and for
waste disposal treatments.
General urban fire prevention system connected to water
source. The system will have pressure pumps.
These water systems are back up with a 3 water reservoirs
which covers 31,9 million squares meters. The reservoirs
have a capacity of 350 thousand m3.
Ducts for the installment with national communication services.
16. Sabemos Cómo
Electronic security system C.C.T.V
Camera system for vigilance monitoring the internal and external
perimeter.
360 degree vision cameras (450 meters scope) and fixed
cameras.
Security camera system with 45 days for recovery according with
NFPA and NSR10 norms.
Central security office with permanent supervisor presence (24
hours).
Electronically access system.
Biometric software and card scanners (The system is connected
with the police date base)
Perimeter security
Closed perimeter with a metal fence, with a process of high
impact galvanizing
Security team
Permanent guard crew. .
Technical project characteristics
17. Sabemos Cómo
Antonio Cogollo Ingeniería S.A.S., REF: Lote
Proyecto PIC, Cartagena, Octubre 12 de 2014
Environmental:
Collection and treatment system for solid waste and industrial waste
managing.
Eco park with native vegetation based on a plan for environmental
adjustment to a government plan to order and mange the canal del
dique basin (POMCA) of the Cienaga de la Virgen area . The area cover
under this program is 32.2 million square meters and 31.9 million
square meters water reservoirs.
Perimeter forest reserve with a width range from 7 meter to 11,8 meter
planting with native vegetation according with the POMCA. Total area
cover 16.3 million square meters.
Lands
yellow brownish clays from the tertiary age with high density.
The capacity and strength of the soil are appropriate for constructions
and public works. Allowing the foundation process to be done with
superficial structures.
Technical project characteristics
18. Fondo Inmobiliario
Sabemos Cómo
* Esta etapa comenzó a inicios de 2013.
Analyzing the development of projects in Cartagena
which offer the urbanized areas:
Two main developments are located in the area:
• Parquiamérica, in Mamonal’s industrial area
• Zona Franca Parque Central, in the town of
Turbaco, on the road “La Cordialidad –
Mamonal”
Both projects register good levels of occupancy.
Within their facilities there are different types of
industries: chemical, logistics, petro-chemistry -
plastic, auto parts, shoes, gas, construction, metal
and others.
Market Comparison
Parquiamérica
Beginning Date 2008
Size 42 Ha
Occupation 88%
Industrial lots (m2) Sales COP (m2)
4.337 450.000
10.804 450.000
4.546 450.000
Zona Franca Parque Central
Beginning Date 2011
Tamaño
Etapa 1: 64 Hectáreas
Etapa 2*: 51 Hectáreas
Total: 115 Hectáreas
Ocupación
Etapa 1: Zona Pyme (100%)
Z.F Permanente (85%)
Etapa 2*: Z.F Ampliación (40%)
Lotes Industriales (m2) Venta cop (m2)
4.817 380.000
15.111 379.988
9.791 300.000
19. Sabemos Cómo
Fondo Inmobiliario
Industrial Park.
Definition
19
Urbanized terrain which is subdivided in parcels, according
to a general plan, which has:
• Roads
• Means of transportation
• Utilities
• Equipment
It may or may not contain finished factories (beforehand). It
sometimes has services and facilities which are of common
use, and which is destined to be used by the industrial
community.
With the installment of an industrial park, the objectives
are:
• Providing order to industrial establishments
• Making urban areas less concentrated with industry
• Adequately using the terrain
• Providing ideal conditions for efficient industrial
operations
• Stimulate productivity in a comfortable environment
Source: Organización de las Naciones Unidas para el Desarrollo Industrial
(ONUDI)
20. Sabemos Cómo
Fondo Inmobiliario
Characteristics of the Industrial Park
20
According to the environment’s needs, there’s different
industrial parks which provide certain services such
as:
• Dedicated to the transformation of basic goods
• Which cluster organizations of the tertiary sector
(services)
• Destined for logistical activity such as warehouse
and distribution
• Where a different and varied array of service
providers are gathered (commercial
establishments, food related, recreational, etc.)
Source: PAISAJES INDUSTRIALES/ POLÍGONOS INDUSTRIALES Y DE
ACTIVIDAD ECONÓMICA
. Polígono Industrial La Cabezuela, España.
21. Fondo Inmobiliario
Sabemos Cómo
Characteristics of the Industrial Park
From an operating point of view, an industrial park
should have the following characteristics:
• Easy Access: Good connections which will
allow for the efficient mobility of goods and
people
• Services Availability: Access to
telecommunications, energy supply, availability
of water, etc.
• Enough Space: Large tracts of land which allow
for a viable minimum size and the growth of
organizations throughout time.
• Quality Environment: A quality environment is
value enhancing to the development of
business and the wellbeing of people
• Strategic Location: Sharpness of the
perimeter's enclosure, regularity in the road’s
patterns, building volumetrics and large
dimensions of roads
21
Source: PAISAJES INDUSTRIALES/ POLÍGONOS INDUSTRIALES Y DE
ACTIVIDAD ECONÓMICA
22. Sabemos Cómo
Fondo Inmobiliario
22
Motives for the Industrial Park’s location
1. Cartagena’s port
2. Oil Refineries. Surrounding industrial sector development.
3. Cartagena Refinery (Reficar)
23. Sabemos Cómo
Fondo Inmobiliario
Commerce in the harbor’s area.
Transportation of goods.
92% of the harbor’s commerce is generated through
the ports of the Atlantic Ocean (Cartagena,
Barranquilla, Santa Marta, Golfo de Morrosquillo and
Guajira).
With the exception of Golfo de Morrosquillo and
Guajira given their nature (1), Cartagena mobilizes
most the country’ cargo (22%), including Sociedad
Portuaria, CONTECAR and Muelles el Bosque S.A.
23
1.Golfo de Morrosquillo is Colombia’s main port with regards to hydrocarbons. Guajira
is one of Latin America's larges coal ports.
Source: Superintendencia de Puertos y Transporte. Cifras a Junio 2014 (Acumulado)
.
Harbor Traffic
24. Fondo Inmobiliario
Sabemos Cómo
International trade by port
Cartagena represents 23.6% of Colombia’s total imports.
Cartagena is a logistical hub for cargo which is traded in
containers.
24
Source: Superintendencia de Puertos y Transporte. Cifras a Junio 2014 (Acumulado). Does not includeMorrosquillo or La Guajira.
Cartagena. Cargo in containers
25. Fondo Inmobiliario
Sabemos Cómo
Cartagena’s Port
Cartagena’s port is highly competitive with regards to the
quality of its infrastructure and cargo management,
specially with regards to containers, where 3 million
containers are expected to be shipped in 2017.
The port’s container division operator (Sociedad Portuaria
Regional de Cartagena (SPRC)), continues having a
great dynamic with regards to volume growth, serving
local demand of imports and exports, as well as
reshipment activities.
It’s infrastructure with regards to cranes, dock lines and
supporting team allows it to be able to supply different
trade lines.
• January – June 2014.
• **According to Hamburg Süd.
Source: Superintendencia de Puertos y Transporte. Includes SPRC y CONTECAR
Cartagena. Container traded cargo
26. Sabemos Cómo
Fondo Inmobiliario
Cartagena’s port excels at:
Concentrating most of Colombia’s container trade,
adding up to 67% of total container trade.
Registering a growth in container trade, with a raw
growth rate of 483% between the years 2000
(mobilized 320,000 TEUs) and 2013 (mobilized
1,865,233 TEUs).
Cartagena’s port is getting ready to service Post
Panamax size ships with capacity of 12.000 TEU
(Twenty-foot equivalent unit), once the widening
project at the Panama canal is completed in
December 2015.
Cartagena’s. Port
Conclusions
Puerto de Cartagena. Figures up to March 2014.
27. Fondo Inmobiliario
Sabemos Cómo
Refineries in the USA.
Houston, Texas.
Has 27 oil refineries which can process more than
4,7 million barrels per day.
The industrial development surrounding the
refinery at Baytown, one of Houston’s largest
metropolitan areas, withholds plenty of different
industries which are the following, among others:
Retail
Communications
Petro-chemical
Pharmaceutics
Source: Google Maps. Cálculos: CPB
28. Fondo Inmobiliario
Sabemos Cómo
Refineries in México.
Salamanca.
The development of industries surrounding the
Salamanca refinery in México withholds diverse
industries such as:
Telecommunications
Retail
Car manufacturing
Source: Google Maps. Cálculos: CPB
Coca Cola FEMSA
Pemex Refinación
Mercedes
Benz
Danone
Toyota
TelCel
29. Sabemos Cómo
Fondo Inmobiliario
Around Cartagena’s refinery, a diverse array of
companies are located. These companies are related
to different economic sectors, such as:
Construction
Metal industry
Oil-chemical
Retail
Multi-sector
Refineries in Colombia.
Cartagena.
Source: Google Maps. Cálculos: CPB
Cementos Argos
Puerto Bahía.
Zona Franca Argos
Abocol.
Reficar
Biofilm
Gerdau Diaco
Cabot Colombiana.
Oiltanking
Productora Andina de Ácidos.
Ajover.
Brinsa.
Propilco
30. Sabemos Cómo
Fondo Inmobiliario
Surrounding refineries, diverse industries tend to be
located. The most frequent industries are:
Chemical
Plastics
Construction
Retail
Car industry
Pharmaceutics
Telecommunications
As part of the reasons for the project’s location,
there’s: road infrastructure, economies of scale and
of scope, security. These aspects tend to be crucial
for most industrial parks around the world.
Refineries.
Conclusions.
Source: Google Maps. Cálculos: CPBRefinería de ExxonMobile en BayTown. Chevron Phillips Cedar Bayou Facility
31. Fondo Inmobiliario
Sabemos Cómo
Cartagena’s Refinery.
Expansion and modernizing process.
Located at kilometer 10 (6,2 miles) Mamonal Road.
Cartagena’s industrial area.
Colombia will have one of the American continents'
largest and most modern refineries , which will have
the capacity to process heavy crudes in a cheaper
and more efficient fashion, producing cleaner fuels.
The expansion and modernizing process will occupy
140 hectares, including the present buildings and
technologies.
This project will double the refinery’s capacity from
80.000 barrels to 165.000 barrels on a daily basis and
the conversion rate to sellable goods will pass from
74% to 95%.
The project has an estimated budget of US $6.467
million.
.
Source: Reficar
Reficar Reficar expansion
32. Sabemos Cómo
Fondo Inmobiliario
Cartagena’s Refinery.
Expansion and Modernizing
32
Source: Reficar
The expansion is based on 16 new units of
production, which will supply a growing demand of
different oil based products like: gasoline, diesel and
propylene.
The refinery will produce: regular and premium
gasoline, low sulfur diesel, marine diesel, coke,
sulfur, virgin naphtha, jet A1, propylene, liquefied oil-
based gas (GLP) and butane.
The expansion and modernizing of Reficar provides
the country with oil risk hedging, guaranteeing its
supply with national products, and generating basic
goods for the petro-chemical industry and fuels for
consumption.
33. Sabemos Cómo
Fondo Inmobiliario
Oil derivatives
The outcome of the process of Cartagena’s refinery is
a portfolio of intermediate and final products:
1. Fuels:
Regular and Premium Gasoline: Consumption in
internal combustion engines
Diesel: Trucks, buses, electricity generating plants,
ships
Jet A1: Designed for airplane jet turbines. This
product has a large added value
Virgin Naphtha: For the production of greases and
lubricants
33
Source: Reficar. Reficar. Hidrotratadora de Nafta.
34. Sabemos Cómo
Fondo Inmobiliario
Oil Derivatives
34
Source: Reficar.
2. Industrials:
Sulfur: For producing sulfuric acid, oleum and its
derivatives (sulfurs, sulfides, etc). Used directly in:
Pharmaceutic products
Rubber vulcanization
Some types of metal industries
Fertilizers and fungicides
35. Sabemos Cómo
Fondo Inmobiliario
Oil Derivatives
Sulfur Derivatives:
35
Sulfur Sulfuric Acid Ammonium sulfide
Biological Treatment plants. As a nutrient for bacterial growth
Chemical industry. As a nutrient for microorganisms and enzyme production
Metal industry. Agent for treating certain minerals
Additive for color in bathroom surfaces and fire proof textiles
For processes with regards to the textile industry
Leather industry
Paper industry
Pharmaceutical industry - As a nutrient for microorganisms
Ammonium
bisulfite
Conservative (antioxidant ) for foods and beverages
For sterilizing equipment
As an agent for whitening process - Works as a colorant
36. Sabemos Cómo
Fondo Inmobiliario
Oil Derivatives
36
2. Industrials:
Propylene:
It’s directly commercialized to produce
polypropylene, which:
Has properties with regards to maximum traction
resistance, elongation, flexion and transparency
One of the hardest plastics, heat resisting and water
resisting
37. Sabemos Cómo
Fondo Inmobiliario
Oil Derivatives
37
Source: Reficar.
3. Industrial Gases:
Domestic fuel
Also utilized as fuel in ovens, dryers and boilers
Use in internal combustion engines and in gas
turbines for generating electrical energy.
Ethylene comes from natural gas, and is utilized in
plenty of productive processes
38. Sabemos Cómo
Oil Derivatives.
38
Fuente: PDVSA
Ethyl acetate
Aromatizing
products
Pharmaceutical
products
Cosmetics
Synthetic flavor Foods
Solvent
Artificial leather
manufacturing Textile
2, Styrene plastics
(polystyrene)
Toys.
Radio and TV cases.
Car parts.
Medical instruments.
Refrigerator interiors.
Ethylene based products:
39. Fondo Inmobiliario
Sabemos Cómo
Conclusions.
Cartagena Refinery’s importance
Reficar is Colombia’s most ambitious refining project
ever and one of the most modern refineries in the
American Continent.
Will process heavy crudes in more efficient manners,
refining higher volumes and yielding higher rates of
final products
Will generate basic goods for the petro-chemical
industry and fuels for export and internal
consumption
The expansion of the refinery is the propeller of the
development of the modern oil industry. Cartagena
made a bet to become a dynamic axis of the national
economy generating jobs in the region, through the
arrival of new industries and corporations.
39
Source: Reficar
40. Sabemos Cómo
04/06/2015
"Las obligaciones de Profesionales de
Bolsa como la sociedad administradora de
la cartera colectiva relacionadas con la
gestión del portafolio son de medio y no de
resultado. Los dineros entregados por los
inversionistas a la cartera colectiva no son
depósitos, ni generan para la sociedad
administradora las obligaciones propias de
una institución de depósito y no están
amparados por el seguro de depósito del
Fondo de Garantías de Instituciones
Financieras FOGAFíN, ni por ninguno otro
esquema de dicha naturaleza. La inversión
en la cartera colectiva está sujeta a los
riesgos de inversión, derivados de la
evolución de los precios de los activos que
componen el portafolio ".
Medellín
Calle 2 No 20-48
PBX: (574) 215 63 00
Fax: (574) 317 34 94
Barranquilla
Cra. 53 No.82-86 Oficina 602
PBX: (575) 356 91 44
Fax: (575) 356 87 71
Cali
Calle 25N No. 6N-67
PBX: (572) 668 8100
Fax: (572) 668 70 90
Pereira
Avda. Circunvalar No. 8B-51 Of 302
PBX: (576) 333 22 95
Fax: (576) 333 22 86
Bogotá
Calle 93B No. 12-18 Piso 2,4 y 5
PBX: (571) 646 33 30
Fax: (571) 635 88 78
Advertencia:
40
