The exhibition is the 16th edition of the shopping center’s annual floral event, presented this year as World of Flowers 2026 under the slogan “When love unites, peace blossoms.” It runs alongside the Feria de las Flores (Festival of the Flowers), the city’s flower festival held across July and August, and draws on the region’s silletero (flower-bearer) tradition of carrying flower arrangements on wooden back-frames.

Each edition is organized around a theme, and the 2026 centerpiece is peace. “The floral dove symbolizes the peace we long for throughout the world. With it, we want to convey a message of empathy and hope at a time when the world is facing so many conflicts,” María Fernanda Bertel, general manager of Centro Comercial Santa Fé Medellín, told the Spanish news agency EFE.

“The floral dove symbolizes the peace we long for throughout the world.” — María Fernanda Bertel, general manager, Centro Comercial Santa Fé Medellín

For 46 days, the 1,000-square-meter plaza holds a floral carpet of 27,000 plants carrying more than 220,000 flowers grown in eastern Antioquia. The arrangement combines petunias in fuchsia, purple, white, and red with marigolds ranging from orange to yellow.

“The species we have chosen adapt well to our square and to our infrastructure, which features retractable roofs that open in the morning and afternoon, providing the lighting conditions these flowers require,” Bertel said.

The dove is built on a metal frame and covered with white leaves made from biodegradable materials designed to resemble flowers, attached one by one to a sculpture measuring 10.5 meters high and 16.8 meters wide. According to Bertel, more than 200 people worked on World of Flowers 2026, from initial design through installation, and a team of eight gardeners maintains the display, monitoring watering and condition throughout the run.

The shopping center staged its first flower carpet in 2011. In 2025 the initiative marked its 15th anniversary and drew 3.1 million visitors to installations placed throughout the property, with a hot-air balloon as that year’s main attraction.

In June 2026, DHL Supply Chain has launched its DHL Fulfillment Network in Colombia and is introducing a logistics platform designed to support the growing volume of e-commerce transactions in the country and across international markets.

The system is intended to handle operations that start at roughly 1,500 orders per month and scale beyond 6,000 monthly orders, positioning itself primarily as a logistics backbone for small and mid-sized e-commerce businesses.

The launch includes initial fulfillment centers in Bogotá and Medellín, two of Colombia’s main logistics and consumption hubs, where DHL will operate multi-client facilities that are designed to adjust capacity based on demand.

The company said the network integrates warehousing, inventory management, order picking and packing, distribution, and reverse logistics under a standardized operational model connected to a global network of more than 80 fulfillment centers.

“Colombia already moved past the stage of basic e-commerce adoption. The current challenge is execution and having the right logistics technology. The increase in order volumes is putting pressure on operations, where accuracy, visibility and responsiveness define the customer experience,” – Robinson Vásquez, general manager of DHL Supply Chain.

The launch comes as Colombia’s e-commerce sector continues to expand. According to the Colombian Chamber of Electronic Commerce (CCCE), online sales grew 11.1% in 2025 compared with the previous year and reached $145.4 billion COP and more than 684 million transactions. Payments CMI projects annual sector growth of approximately 16% through 2027.

Industry research from the NubeCommerce Colombia 2025–2026 report also points to a maturing market, where consumers are becoming more selective and companies are increasingly focused on operational efficiency and technology adoption.

E-Commerce Growth Intensifies Demand for Faster Fulfillment

As online shopping continues to grow in Colombia, retailers are facing greater pressure to deliver orders quickly and reliably. Meeting customer expectations has become increasingly important as consumers demand faster shipping and more visibility into the status of their purchases.

DHL’s fulfillment service is designed to handle warehousing, inventory management, packing, shipping and returns on behalf of businesses. Companies can track orders and inventory through the company’s MySupplyChain platform.

The system can also connect with online stores, marketplaces and business management software, allowing retailers to manage orders across multiple sales channels.

Operating from fulfillment centers in Bogotá and Medellín, DHL said the network can reach more than 1,000 destinations across Colombia as well as international markets. Deliveries to major cities can be completed within 24 to 48 hours, depending on the service selected.

The company said the two facilities were strategically located to serve regions with the highest concentration of online shoppers and help shorten delivery times.

Vásquez said logistics capabilities are becoming increasingly important for small and medium-sized businesses competing in e-commerce.

“Small and mid-sized companies competing in e-commerce need more than capacity. They need consistency and operational confidence,” he said. “Scaling omnichannel fulfillment without losing control of inventory, integrating multiple sales channels efficiently, and managing returns effectively are now critical to sustained growth.”

Robinson Vásquez, general manager of DHL Supply Chain Colombia

The Technology and Sustainability Components

DHL said the Colombian rollout includes a warehouse management system (WMS) that uses artificial intelligence to support inventory control and improve picking and dispatch accuracy.

The system is designed to integrate with digital sales channels and enterprise systems. This allows for real-time visibility across operations.

The company also highlights sustainability-related features in its fulfillment operations, which include LED lighting systems with automated sensors and waste segregation and recycling processes. These measures are part of DHL Group’s broader goal of reaching net-zero emissions by 2050.

How Does the Launch Fit Into Colombia’s E-Commerce Growth?

Colombia’s e-commerce sector has expanded rapidly in recent years, which is supported by rising digital adoption and improved payment infrastructure.

According to Payments CMI, Colombia’s e-commerce sector is expected to continue growing through 2027, which will be supported by increasing digital adoption and improvements in logistics infrastructure.

Above photo: A DHL warehouse. (Photo: DHL)

Economic activity in Colombia expanded at an estimated annual rate of 2.1% during the first quarter of 2026. According to the latest NowCast report issued by the Grupo Cibest, unit of Bancolombia (NYSE: CIB, BVC: BCOLOMBIA), this outcome reflects a loss of momentum compared to the rolling quarter ended in February. That previous period recorded a growth of 2.2%, which was revised downward by 10 basis points from an initial estimate of 2.3%.

The 2.1% growth rate for the quarter indicates a slowdown relative to both the market consensus average of 2.7% and the internal growth forecast of 3.3% held by the bank. On a month-over-month basis, the seasonally adjusted series of the NowCast index posted a 1.3% contraction in March 2026. When compared to March 2025, economic activity grew by 2% year over year, representing a 50-basis-point decline from the 2.5% reading recorded the previous month.

“Overall, these results suggest that the economy is beginning to lose steam, amid multiple sources of uncertainty.” — NowCast Bancolombia Report

Analysis at the sector level reveals a broadly weaker growth profile, with deceleration appearing across most productive areas. Slower momentum was identified in trade, manufacturing, recreation, real estate, and financial services. Manufacturing expansion cooled to 1.0% in March 2026, while financial services recorded marginal growth of 0.6%. The real estate sector maintained a steady growth rate of 1.9%.

Construction and communications were the only sectors to record negative growth during the period. The construction sector saw a significant downturn, contracting by 2.3% in March 2026 after having posted 1.4% growth in February. The information and communications sector contracted by 0.4%, marking its fourth consecutive month in contractionary territory. Conversely, acceleration was noted in public administration, which grew by 5.1%, agriculture at 3.7%, and mining at 0.8%.

The NowCast family of indicators is prepared by Grupo Cibest through the processing and aggregation of transaction data from the bank’s various payment channels. Using advanced quantitative tools, the index provides high-frequency estimates of Colombian productive activity to complement official data from the Departamento Administrativo Nacional de Estadística. The report was authored by Arturo Yesid González Peña, Head of Quantitative and Analytics, and Sebastián Ospina Cuartas, Data Controller.

The report also incorporates data from the Bloomberg platform and FocusEconomics Consensus Forecasts to provide broader economic context. While the national economy remains in expansionary territory, the analysts suggest that the current results indicate the market is losing steam due to various sources of domestic uncertainty.

“We are thrilled to expand our footprint in Medellín, a city known for its innovation and talent,” said Rubén Orozco, Vice President of Operations at TaskUs Colombia.

“At TaskUs, we are deeply committed to the growth and development of our people. Our investment in learning goes beyond current roles—we equip both emerging and established leaders with the skills needed to advance in their careers. Additionally, we offer on-demand online learning resources, allowing employees to grow at their own pace, anytime and anywhere.”

“The opening of this new operations center by TaskUs reaffirms Colombia’s positioning as the Country of Beauty and a competitive destination for knowledge-based services,” stated Carmen Caballero, President of ProColombia.

“The high availability of bilingual, skilled, and adaptable talent has been key for global companies to choose Colombia as a strategic ally for growth.” María Fernanda Galeano, Secretary of Economic Development of Medellín, added,  “TaskUs’ new operations center is highly significant for Medellín. It reflects a multinational company’s trust in our city and its people. It also reinforces Medellín’s appeal as a destination for international investment and contributes to employment, economic growth, and strengthening our entrepreneurial ecosystem. We welcome TaskUs’ expansion.”

Luis Barreto, Vice President of Operations for TaskUs Latin America, shared, “Our purpose is to inspire, energize, and revitalize our teammates both at work and beyond—while having fun. We’re excited to welcome new team members and support their development, helping more ‘paisas’ discover what makes working at TaskUs truly ridiculously good.”

Cristina Zambrano, Executive Director of ACI Medellín, commented, “We celebrate TaskUs’ confidence in Medellín and their decision to grow their presence in our city. This expansion confirms that our district is ready to remain a competitive destination for foreign investment and a strategic partner for companies committed to innovation, talent, and sustainability. Every new job created is a chance to transform lives and strengthen our local economy.”

Since entering the Colombian market in 2021, TaskUs has established operations in Cali, Barranquilla, and Medellín, employing more than 4,000 highly skilled professionals who primarily support clients in the United States across industries such as healthcare, e-commerce, technology, tourism, and retail.

Currently, the company is hiring bilingual talent in Medellín. Interested candidates can explore open positions through TaskUs Colombia’s official social media accounts:@taskuscolombia, or via their careers website at https://www.taskus.com/careers/

Photos © Loren Moss

Gradual improvement in occupancy rates and rents is expected to continue beyond 2025

Retail space and shopping malls in major markets such as Mexico and Brazil are expected to maintain strong operating metrics, with rent increases at or above inflation, high collections, and stable occupancy rates. In Chile, growth is likely to be modest, reflecting a gradual recovery in private consumption as the labor market improves. In Argentina, growth is anticipated to remain subdued, though an improvement in consumption may provide an upside for mall operators.

For the regional office segment, issuers prioritize higher occupancy over rent increases. Gradual improvement in occupancy rates and rents is expected to continue beyond 2025, although the pace may be moderated by factors such as oversupply and the prevalence of hybrid work models.

Latin American real estate credit profiles exhibit low to moderate credit risk, supported by strong financial health, healthy capital access, and stable net operating income. Sector leverage remains manageable, with adequate liquidity profiles, minimal near-term debt maturities, and significant unencumbered assets, providing a stable foundation despite potential challenges.

Fitch’s Latin America Real Estate Outlook 2025 is available at www.fitchratings.com.

Headline Image: Shopping mall. Photo credit: stevepb from Pixabay.

“Retailers are demonstrating increased prudence with their capex, directing their investments toward optimizing logistics and bolstering the long-term value of customer relationships,” noted Fitch Ratings in a statement accompanying its report.

“In response to these market dynamics, companies are striving for a more balanced strategy between growth and profitability when executing digital strategies.”

Along with the macro cycle transition and relevant market dynamics, the New York-based ratings agency also notes other factors influencing competitiveness for the sector in Latin America.

“Increased competition from pure online retailers has led traditional retailers to defend market share by focusing on enhancing their product offerings, elevating service levels and improving the overall shopping experience,” stated Fitch Ratings.

Inventory management has also been helping to improve expectations for some retailers.

“Retailers started 2024 with better inventory levels after paring back their purchases during 2023,” stated the big three rating agency. “Fitch believes inventory management continues to be key to preserve profitability despite these more efficient inventory levels.”

Finally, it notes that refinancing risks remain “manageable” and local debt markets “have been supportive for refinancing.” On the other hand, Fitch concludes that “international debt markets remain volatile as global macroeconomic environment and geopolitical risks disrupt stability.”

Photo: Havaianas store in Bogotá’s Andino mall. (Credit: Jared Wade)

The new large location, which has a 3,288-square-meter sales floor and a parking lot with 283 spaces, is the result of $32 million USD investment and will generate some 170 jobs, according to the San Diego, California-based membership-only warehouse company.

This will add to the more than 1,600 employees that the company already has in Colombia.

PriceSmart says that $4 million USD of this total went toward using sustainable construction practices, including the addition of a green roof, wastewater treatment, LED lighting, cooling system, and tree planting plan.

The ribbon cutting for PriceSmart’s second location in Medellín, Colombia. (Photo credit: PriceSmart)

This marks the 10th store for PriceSmart in Colombia and number 52 overall across 13 countries. Colombia is so far PriceSmart’s only South American market, but it is the country with the largest footprint in terms of location count, with stores in Medellín, Bogotá, Chia, Cali, Barranquilla, Pereira, and Bucaramanga.

The company operates primarily in the Caribbean and Central America, where it has eight locations in Costa Rica, seven in Panama, and six in Guatemala.

PriceSmart also has stores spread across Nicaragua, El Salvador, Hondura, the Dominican Republic, Trinidad and Tobago, Jamaica, Aruba, Barbados, and the US Virgin Islands.

Photo: On September 28, IKEA launched its first Colombian store in Bogotá’s Mallplaza NQS. (Credit: IKEA)

The new store, located in Bogotá’s Mallplaza NQS on Carrera 30 and Calle 19, is now the company’s largest in South America at more than 26,000 square meters and offers a large selection of the ready-made, assemble-at-home furniture that has turned IKEA into a household name across the globe.

According to the IKEA, the store features 6,000 different products along with its signature Swedish food at an in-store restaurant. The store also has a supervised play area for children to use while others shop.

Its digital store offering products available to buy online also became available for Colombian customers the following day on September 29. It is currently only available for shoppers in Bogotá, but the company says it will “gradually be enabled” in other cities in the Andean nation.

Next year, two other cities will get the full experience as well, as IKEA has made plans to open stores next year in both Medellín and Cali, the countries second- and third-largest metropolises.

“We are proud to be able to reach Colombia and complement the local market with a new offer of furniture and decoration products,” said Hasbleidy Castañeda, manager of IKEA Colombia, in a statement. “We are convinced that having inspiring homes motivates people to pursue their dreams and build a better everyday life, and we want to be the ally of Colombians for this.”

Intellias has expertise in several industries including mobility, financial services, telecom and media, and retail, working with companies like HERE Technologies, HelloFresh, Rand McNally, TomTom and DKV.

“Having a well-developed tech ecosystem and technically skilled engineers, Colombia is one of the fastest-growing IT hubs in the LATAM region. Additionally, Colombia is the perfect location to set up the first delivery center in Latin America and work with our growing US client roster. By cooperating closely with Colombian IT experts, educational centers, and IT hubs, we plan to build a top-tier team of engineers who will join our efforts in digitalizing the world. We invite local developers to apply to join the Intellias team and grow with the company,” said Vitaly Sedler, CEO and co-founder of Intellias

Intellias claims to have been named the best IT employer by Forbes and EY in 2020 and 2021, and has also been named one of the most family-friendly companies in Ukraine by UNFPA. This, according to the company, is due to paying special attention to nurturing and supporting a human-to-human corporate culture. Team members can manage their careers, work remotely, master new skills, become mentors, join engineering communities, and even get insurance for their pets.

“Setting Colombia as a new global location is a big and strategic step for Intellias. We hope to get access to the world-renowned LATAM talent market, using Colombia as a key bridge, while also using Colombia’s close ties with North America to foster a strong partnership with our clients. We look forward to cooperating with Colombian specialists on top-notch engineering projects and creating outstanding digital solutions while enjoying the rich culture and diversity Colombia has to offer,” Camilo Riveros,  Intellias Employee Experience Manager for Colombia

Last year, Intellias reported 50% growth, opening new offices in Croatia, Bulgaria, Spain, Portugal, and Poland; and acquiring Digitally Inspired, a fast-growing UK-based development company focusing on retail and eCommerce industries. Intellias also has offices in Ukraine, working with the country’s engineers to launch initiatives to support the Ukrainian people during the country’s defense against Russian aggression. In 2023, the company plans to open even more locations in Colombia and India.

Energy: President Petro on Friday effectively took control of the energy sector for three months. Alarm bells are ringing at this development. What is he planning? That remains to be seen but it doesn’t bode well for the energy sector if he is looking to cap prices or anything similar.

The President himself spent Thursday with Venezuela’s Maduro pushing forward a trade agreement. An MOU was signed with regards to tariffs & products, with the prospect of cross border trade zones being created – has to be a positive.

As announced, we saw the street full of protestors this week. Some against government reforms, some supporting them and others with their own localized agendas. The demonstrations were neither biblical in size or violent in nature, which was encouraging in a country which has grown ever more polarized over the last decade.

Everyone was well warned on Monday that this would be an end-to-end week of macro data, and it didn’t disappoint.

The headlines were taken by the DANE reporting a 7.5% GDP reading for 2022 – the highest reading amongst the main economies of the Americas and also one of the top performing economies on the planet. Within the Q4 report there was of course a slowdown from the 10.6% registered in Q3 but the 0.7% QoQ reading was higher than the -0.3% expected.

The slowdown nonetheless had to come after such an increase coupled with interest rates that have more than tripled from 4% a year ago. The remaining question is just how far the economy will pull back in 2023 – the Central Bank lowered their estimate recently to 0.3%. The IMF this week referred to the cooling effect the Central Bank has had on both inflation and growth amidst a favorable update report.

To repeat my comment from earlier in the week, sadly the only sector in the red during 2023 was agriculture (-1.9%); an area where Colombia can be a regional leader if it learns to fully, or even partly, utilize the 32 million hectares of farmable land.

Exports in December as we know spluttered once again in both FOB and tonnage terms, and with Imports for the same month of US$5.8bn again beating consensus (US$5.7bn) – this meant another bigger than expected Trade Deficit of US$935mn (est US$800mn).

Manufacturing Production (+0.5%) was much weaker than expected (3%) and well down on the 4.5% seen in November. This is a growth number that has held up well over recent months – this time not so much. Of the 39 categories 23 fell YoY

Retail Sales which have struggled over recent months, finally fell into the red with a -1.8% reading, below the 1% predicted and down from 1.7% last time around. Here 11 of the 18 sectors were in negative territory with the leading contributors being home appliances (-24.2%) & automobiles/motorcycles (-7.6%).

The Central Bank released their latest economists survey for February and inflation estimates for 2023 rose from 8.59% to 8.83%, with a marginal cooling for 2024. In terms of rates, the expectation is a terminal rate of 13.25% in April – in January it was 13%. The economy remains warm.

Finally, the Peso proved it was no island – it has been tossed about all week by Fed officials and got close to the $5000 threshold once again on Thursday. Friday has seen oil slipping 2% and DXY again rising – that threshold may come into play.

Please find below the LinkedIn Video :

https://www.linkedin.com/posts/rupert-stebbings-927b6316a_colombia-energy-economy-activity-7032315203304222720-mkMk?utm_source=share&utm_medium=member_desktop

Have a great weekend

Roops