The new Centro Comercial Paseo Villa del Rio shopping mall will meet the needs of more than 2.3 million residents of south Bogotá. These neighborhoods have few retail and commercial options, but residents represent 19% of total spending on consumer goods. The new shopping mall will provide easier access to entertainment options and more than 350 retail stores. The mall will also have a movie theater, gym, pet park and an amusement park on the top floor.
The four-floor shopping mall provides a centralized location for shopping and entertainment needs in a resource-efficient building. The mall is equipped with such energy-efficient features as a demand control ventilation system and a skylight that provides daylight to the interior of the building. The building is expected to reduce its water use by up to 55% with water-efficient landscaping, a rainwater harvesting system that uses 30% of the roof area for rainwater collection and other features. These solutions were implemented at a minimal additional cost with a payback period of just over two years, with operational costs expected to be reduced by over $58,000 per month.
The Centro Comercial Paseo Villa del Rio was developed by AshmoreAVENIDA, a private equity investment firm founded in 2018 when Ashmore Group acquired a majority stake in Avenida Capital. The firm is committed to responsible investment that contributes to the sustainable development of Colombia. AshmoreAVENIDA plans to certify future projects with EDGE to showcase how building green can deliver a strong return on investment. Centro Comercial Paseo Villa del Rio has received a preliminary EDGE certificate from CAMACOL.