What Cimento does

Cimento Inmuebles Comerciales S.A.S is a Colombian commercial real estate development and operating company founded in 2011, headquartered in Bogotá. The firm develops and operates large-scale shopping centers and mixed-use projects in Colombia's three principal urban markets — Bogotá, Medellín, and Chía — serving as a landlord and operator to hundreds of retail, dining, fashion, convenience, and entertainment tenants, while also serving end-consumer foot traffic at its destinations. Revenue is generated primarily through commercial rent and property management fees on leased retail space; the company does not publicly disclose pricing, with tenant contracts negotiated individually based on location, size, and term.

Cimento's operational portfolio consists of three named properties: Fontanar (Chía, opened October 2015, 143,126 m² built, 64,400 m² commercial, 192+ stores), Arkadia (Medellín, opened November 2019, 140,354 m² built, 53,092 m² commercial, 195+ stores), and the in-development Quora (Bogotá, expected H2 2028, 233,530 m² built, 40,200 m² commercial, 55,421 m² office, 210+ retail stores). The portfolio totals 587+ retail stores across the three assets, with Quora introducing a new asset class (Grade-A office) and a "city within a city" mixed-use concept on 5.6 hectares of public-private space intervention in north Bogotá. Quora represents the company's largest project by far and its first move into office real estate, materially expanding its addressable revenue surface beyond retail leasing.

Operationally, Cimento distinguishes itself through an aggressive sustainability program — 84% of operational water sourced from treated rainwater, 61.45% waste repurposing (1,500 tonnes and 1,389 kg composted), 787.4 tCO₂ carbon footprint reduction, 13 EV charging stations and 20 e-bike/e-motorcycle charging points, and a 6.6% energy savings in 2025 versus 2024. The company holds LEED GOLD recognition, Green Development reduced-carbon certification, the 2023 Asobanca Environmental Sustainability merit, and Great Place To Work certification (March 2025–March 2026) with 93% employee satisfaction versus an 86% market average. The firm operates 101–250 employees and is led by General Manager Gabriel Escallón. Ownership is described as independent and founder/management-controlled, with no disclosed parent company, institutional investor, or funding rounds in available source data.

Name

Cimento

Legal name

Cimento Inmuebles Comerciales S.A.S

Website

https://cimento.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

Cimento Inmuebles Comerciales S.A.S is a Colombian commercial real estate developer founded in 2011, operating large-scale shopping centers and a mixed-use project in Bogotá, Medellín, and Chía, leasing space to 587+ retail and dining tenants across three flagship properties.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Mixed-Use Property Management (BPAJAGAE)

akta.pro secondary industry

Retail & Mixed-Use Commercial Construction (IMAFACAB)

Keywords

• Commercial real estate development
• Shopping center operations
• Mixed-use development
• Retail property leasing
• Urban renewal projects

Headquarters

HQ city

Bogotá

HQ country

Colombia

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Commercial Real Estate Leasing: Cimento generates primary revenue through leasing retail space in its shopping centers (Fontanar with 192+ stores, Arkadia with 195+ stores, Quora with 210+ stores) to fashion, dining, convenience, and entertainment tenants. Revenue is derived from commercial rent and property management fees.

Distribution channels1 record

Marketing channels3 records

Core offering

Cimento develops and operates commercial and mixed-use real estate projects in Colombia, owning and managing shopping centers that lease retail space to fashion, dining, convenience, and entertainment tenants. The current portfolio includes the operational Fontanar (Chía, 2015) and Arkadia (Medellín, 2019) shopping centers and the planned Quora mixed-use development (Bogotá, 2028) combining retail and offices under a 'city within a city' concept. Revenue is generated through commercial rent and property management fees negotiated individually with each retail tenant.

Product overview

Cimento is a Colombian real estate development company founded in 2011 that develops and operates commercial real estate assets. The company operates a portfolio of three main properties: Fontanar (shopping center in Chía, opened 2015), Arkadia (shopping center in Medellín, opened 2019), and Quora (mixed-use development project in Bogotá, expected 2028). These projects are designed as destinations combining retail, dining, entertainment, and community spaces that transform urban environments.

Differentiator

Problem solved

Functional benefit

Brands

• Fontanar: Shopping center located in Chía, Cundinamarca, opened in October 2015. Unique shopping center designed to offer memorable experiences for the whole family with fashion, gastronomy, convenience, and entertainment.
• Arkadia
• Quora

Products and services

• Fontanar Shopping center in Chía, Cundinamarca featuring 64,400 m2 of commercial space with more than 192 retail, dining, convenience, and entertainment stores. Cimento leases this commercial space to retail and F&B tenants and operates the destination for end-consumer footfall.
• Arkadia Shopping center in Medellín, Antioquia with 53,092 m2 of commercial space and more than 195 stores spanning fashion, gastronomy, convenience, services, and entertainment. Cimento leases commercial space to retail and F&B tenants and operates the destination.
• Quora Mixed-use urban development in Bogotá spanning 233,530 m2 built area, combining 40,200 m2 of commercial space (210+ stores) and 55,421 m2 of office area. Designed as a 'city within the city' concept, Cimento will lease retail and office space to commercial and corporate tenants.

Quantifiable outcome

• 6.6% energy savings in 2025 vs 2024, demonstrating operational efficiency
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Marval: Established Colombian real estate developer with diversified portfolio across housing, commercial, and urban projects. Comparable as a domestic Colombian peer addressing similar premium urban markets where Cimento operates.
• Constructora Bolívar: One of Colombia's largest homebuilders with growing commercial and mixed-use activity. Comparable as a Colombian peer with demonstrated ability to develop and operate large-scale urban real estate projects across multiple Colombian cities.
• Amarilo: Colombian developer with a national footprint across residential, commercial, and urban-mixed-use projects. Relevant regional peer to Cimento given shared Colombian geography and large-scale master-planned community expertise.
• Cusezar: Colombian real estate developer active across Bogotá, with experience in large-scale mixed-use and commercial projects. Adjacent regional peer to Cimento, sharing Colombian geography and urban mixed-use orientation.

Broad incumbents

• Cencosud Shopping: Shopping center arm of the larger Cencosud retail conglomerate operating across Chile, Peru, and Colombia. Comparable in asset category and tenant mix, though it draws on a broader retail ecosystem than Cimento's standalone developer-operator model.

Direct peers

• Sonae Sierra: International shopping center developer and operator with activity in Portugal, Brazil, and elsewhere. Closely comparable as a developer-operator of lifestyle-oriented retail destinations with sustainability orientation, similar in scale and integrated model to Cimento.
• Iguatemi Empresa de Shopping Centers: Brazilian shopping center developer-owner-operator focused on upscale lifestyle malls. Direct peer to Cimento given premium tenant mix, integrated retail/entertainment positioning, and owned-and-operated business model.
• Parque Arauco: Chile-based shopping center developer and operator with assets across Chile, Peru, and Colombia. Directly comparable to Cimento as a LatAm retail-anchored developer pursuing premium lifestyle destinations and portfolio expansion.
• JHSF: Brazilian developer focused on mixed-use, luxury, and retail real estate including premium outlet malls. Comparable to Cimento in its mixed-use orientation and emphasis on high-end retail destinations.
• Multiplan: One of Brazil's largest shopping center operators, owning and managing a portfolio of regional malls. Closely comparable business model to Cimento: owned-and-operated retail destinations leased to fashion, dining, and entertainment tenants.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cimentoinmueblescomercialessas
• Instagraminstagram.com/cimentocol

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cimento