Foreign investment in Eastern Antioquia, Colombia, continues to grow due to the region’s strategic location and expanding infrastructure. More than two hundred million dollars have flowed into this subregion, strategically located near the José María Córdova International Airport and the Rionegro Free Trade Zone. This development has turned it into a strategic hub for enhancing the international competitiveness of Antioquia and the country. Its natural beauty and economic potential have made it a magnet for foreign investment in Eastern Antioquia, Colombia. The José María Córdova International Airport (JMC) and the Rionegro Free Trade Zone are critical to its competitiveness.
Extensive connectivity
The airport offers connectivity to twelve national destinations, including Bogotá, Cali, and Barranquilla, as well as twenty direct international destinations, such as Madrid (Spain), New York, Miami, Mexico City, Panama City, Lima, Buenos Aires, and Santiago de Chile. In less than 6 hours, travelers can connect with the major business capitals of the continent, further driving foreign investment in Eastern Antioquia, Colombia.
“The current conditions create promising scenarios for investment projects that impact the local economy, such as the adaptation of agricultural technology, opportunities in the consolidation of the aerospace sector, and potential developments in pharmaceutical and healthcare products and services,” commented Paola Caballeros, Executive Director of the Invest In Oriente Antioqueño Agency, who added that the agency arrived in the territory with the firm conviction of connecting the Eastern Antioquia subregion with national and international opportunities. The region has experienced a notable increase in strategic foreign investment in Eastern Antioquia, Colombia, close to two hundred million dollars, with high growth potential. In the tourism sector, the arrival of the Marriott International chain in Guatapé, with the future conversion of The Brown Hotel to its Autograph Collection brand in the reservoir area, demonstrates the region’s growing appeal as a top-tier destination.
In the agribusiness sector, world-renowned companies like Pepsico have found an ideal environment for their development and expansion in Guarne, with an investment of ninety million dollars. Likewise, the aviation sector has seen significant growth with the implementation of Avianca’s MRO (Avianca Aeronautical Maintenance Center in Rionegro), which has strengthened the sector’s technical and operational capacity.
VaxThera, a SURA company, will establish the country’s first human vaccine production plant, which will begin operations in 2025; and Life Factors, specialized in the development and production of blood-derived medications, aims to consolidate the region as a leader in biotechnological research and development. According to Caballero, the Rionegro Free Trade Zone provides a favorable environment for companies seeking tax and logistical advantages. “The proximity to Medellín, just 30 minutes by car, adds strategic value, making Eastern Antioquia an attractive investment and business development option. Additionally, with the future port operation in Puerto Antioquia, in Urabá, our region is strategically positioned, equidistant from the country’s main consumption centers and the new port, which will further enhance our competitiveness,” she noted, reinforcing the role of foreign investment in Eastern Antioquia, Colombia.
The progress in the East is partly due to robust institutions that have been fundamental to growth and innovation. Entities such as the Eastern Antioquia Chamber of Commerce, the Regional Autonomous Corporation of the Cuencas de los Ríos Negro y Nare (Cornare), and the CEO Business Guild, along with universities such as the Universidad Católica de Oriente, EAFIT, and the Universidad de Antioquia, and strategic allies like Asocolflores, Comfama, and Comfenalco, have facilitated effective collaboration between the public and private sectors, driving sustainable progress in the territory. “These institutions have been key in promoting clusters and the regional brand ‘Eastern Antioquia, a region that enchants,’ positioning the region as an attractive destination for investment, tourism, and sustainability,” stated Caballero.
For Camila Escobar, President of the Eastern Antioquia Chamber of Commerce, the region is consolidating as a benchmark for development and competitiveness in the country, thanks to its natural and strategic advantages. “With landscapes, biodiversity, water, and energy resources, and a privileged location with the airport and key road connections, foreign investment in Eastern Antioquia, Colombia, is likely to continue to grow,” she emphasized.
The Eastern Antioquia Chamber of Commerce has led key initiatives such as clusters for avocado, flowers, tourism, dairy, and technology, promoting competitiveness and innovation in these sectors. It plans to boost the life sciences cluster. These initiatives demonstrate the commitment of local institutions to fostering a vibrant and sustainable business and community environment.
Business Innovation in Eastern Antioquia
Among the most notable projects in this Antioquia region are ZONA E and the expansion of the San Nicolás Shopping Center. ZONA E is a significant real estate project offering corporate spaces for commercial, light industry, and hotel operations, with lots ready for construction and fully equipped with all necessary services and permits, allowing projects to start immediately. It is strategically located in Llanogrande, one of the rural areas of Rionegro, where some of the most luxurious properties in the country are found. According to the director of Invest in Oriente, multinationals like the Japanese company YKK have recognized ZONA E as “the ideal place for operational expansion, as it fosters growth and business innovation, ensures vital connections, and provides a dynamic environment for business.” The project is just 10 minutes from José María Córdova Airport, 30 minutes from Medellín via the Eastern Tunnel, and 5 minutes from the main shopping centers, service areas, banks, and other amenities. ZONA E has also established itself as a regional reference point for hosting high-profile corporate and social events. This project has further solidified the impact of foreign investment in Eastern Antioquia, Colombia.
Meanwhile, the San Nicolás Shopping Center, with 17 years of experience, is another pillar of commercial development in the region. It drives the retail sector and offers a wide range of services, dining, and entertainment in the territory. With the projected expansion for 2024 and 2025, it will become the most important commercial complex in Eastern Antioquia, comprising over 310 brands in a Gross Leasable Area (GLA) of 57,000 m² of commercial space. It will also include a devoted area for events and an auditorium.
The strategic location, commitment to sustainability, green areas, and additional services such as coworking, dog place, lactation area, outdoor gym, inclusive playgrounds, children’s area, and other spaces for visitors make San Nicolás the meeting point for families in Eastern Antioquia.
Both projects demonstrate the region’s ability to attract investment and develop infrastructure that drives the local economy.
A Growing Subregion
In the last 17 years, Eastern Antioquia has grown as if the population of La Estrella and Sabaneta had moved to the region, positioning it as the primary demographic and productive engine for the future metropolis of Medellín in 2050.
The scarcity of land in Medellín has also driven strong urban growth in the East, which in 2023 accounted for 24.9% of the 424 housing projects in Antioquia, according to the Colombian Chamber of Construction (Camacol). Rionegro, El Retiro, and La Ceja lead this activity, while Medellín ranks second with 21.7%, followed by Bello, Envigado, and Sabaneta.
Between 2017 and 2019, new home sales in the East exceeded 2,000 units annually. Rionegro leads this trend with a 54% share. Although they fell to 1,829 units in 2020, the market expects to surpass 2,000 in 2024 after a strong recovery in 2021 and 2022.
The urbanization growth in the East has shifted from selling recreational farms 15 years ago to building housing developments over the past decade, establishing the region as a high-demand residential and rural destination, especially in Guarne, El Retiro, La Ceja, and El Carmen. The increased housing development is also an indirect result of foreign investment in Eastern Antioquia, Colombia.
According to Eduardo Loaiza, manager of Camacol Antioquia, the San Nicolás Valley is now the epicenter of development in the region, surpassing the Aburrá Valley due to its temperate and green environment. “The East offers residential areas in natural settings, contrasting with the single-family homes of the Aburrá Valley,” explained Loaiza.
Rionegro, the principal municipality of the plateau, has driven transformation with the construction of the Eastern Tunnel, which has reduced travel time to Medellín. “This has increased housing demand, with sales rising from 400-500 units annually 12 years ago to more than 6,000 in recent years,” added the manager of Camacol Antioquia.
Investments in infrastructure, such as the integration of Empresas Públicas de Medellín and the airport’s growth, have also driven the East’s development. “The pandemic increased demand for open spaces, consolidating the region’s appeal,” noted Loaiza.
Development Figures
The GDP of the East grew by 174% in 11 years, with sustained growth in added value production exceeding 10%, according to the Eastern Antioquia Chamber of Commerce. The services sector leads this trend, followed by industry and agriculture. “Between 2016 and 2022, the East grew by 10.1% annually, establishing itself as the second most competitive region in Antioquia,” said Camila Escobar, executive president of the entity.
The formal employment rate in the East also reaches 41% in rural areas and 56.5% in urban areas, with municipalities such as La Ceja and Rionegro exceeding 60%, reflecting a robust labor market with opportunities in the region.
A combination of strategic location, growing infrastructure, and a clear focus on foreign investment drives this vibrant economy in Eastern Antioquia, Colombia.
Eastern Antioquia, Colombia, has become a prime destination for foreign investment due to its strategic location, expanding infrastructure, and vibrant economy. With over $200 million in foreign investment, the region benefits from its proximity to the José María Córdova International Airport and the Rionegro Free Trade Zone, enhancing its international competitiveness. Key sectors attracting investment include tourism, agribusiness, aviation, and biotechnology. Major projects like ZONA E, the San Nicolás Shopping Center expansion, and the establishment of Colombia’s first human vaccine production plant underscore the region’s potential. Robust institutions, collaborative public-private initiatives, and sustainable growth have further solidified Eastern Antioquia as a critical hub for development in Colombia.