[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fWJDsHAQ6CLoVvTVD9A3h5b3OQINtZN4Lgf5KRFFTPPo":3,"$fTe5HE0Z1vo2J86ZJWWdF8KMsEsay4hhvzos2gbGNccM":40,"$f_iPoKLJTmna0hysc3JyPQYvKVRe6ciD7LTGcnXYUH3Q":941,"$fHZACXKUx01KPSuXJqKK1dUaKuI0aWyldkRtgmcVopyo":1446,"$fp68hrMLSAJv7mcNXQMg9VWYpfosTWfsdtoH90OP7mmg":1551},[4,24],{"id":5,"title":6,"color":7,"videoPlaylistUrl":8,"translations":9},3,"Infrastructure","#6DAAB4",null,[10,14,19],{"title":6,"slug":11,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"language":12},"infrastructure",{"code":13},"en",{"title":15,"slug":16,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"language":17},"Infraestrutura","infraestrutura",{"code":18},"pt-BR",{"title":20,"slug":21,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"language":22},"Infraestructura","infraestructura",{"code":23},"es",{"id":25,"title":26,"color":27,"videoPlaylistUrl":8,"translations":28},2,"Real Estate","#752964",[29,32,36],{"title":26,"slug":30,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"language":31},"real-estate",{"code":13},{"title":33,"slug":34,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"language":35},"Mercado Inmobiliario","mercado-inmobiliario",{"code":23},{"title":37,"slug":38,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"language":39},"Mercado Imobiliário","mercado-imobiliario",{"code":18},[41,44,48,52,56,60,64,68,72,76,80,84,88,92,96,100,104,108,112,116,119,123,127,131,135,139,143,147,151,155,158,162,166,169,173,176,180,184,188,192,196,200,203,207,211,215,219,222,225,228,231,235,239,243,247,251,255,259,263,266,270,274,278,282,285,289,292,295,298,302,306,310,314,318,321,325,328,332,335,337,340,344,347,350,354,357,361,365,369,373,377,380,384,388,392,396,400,404,407,409,413,417,420,424,428,431,435,439,443,446,450,453,457,460,464,467,471,474,477,481,485,488,491,495,499,503,506,510,513,517,521,525,529,533,536,540,544,547,551,553,556,560,562,565,568,572,576,580,584,588,591,595,598,602,605,609,612,616,619,623,626,630,633,636,640,643,646,649,653,656,659,662,666,670,674,677,680,683,687,691,694,698,700,703,706,710,713,717,721,725,728,732,735,738,741,745,748,752,755,758,762,765,767,771,775,779,783,786,789,792,795,798,800,803,807,811,813,817,820,822,826,830,834,838,841,845,848,851,854,858,861,864,868,871,874,877,881,884,886,889,891,895,899,903,906,909,913,916,918,921,925,927,931,935,937],{"id":5,"name":42,"phoneCode":43},"Afghanistan",93,{"id":45,"name":46,"phoneCode":47},189,"Åland Islands",1,{"id":49,"name":50,"phoneCode":51},4,"Albania",355,{"id":53,"name":54,"phoneCode":55},44,"Algeria",213,{"id":57,"name":58,"phoneCode":59},187,"American Samoa",1684,{"id":61,"name":62,"phoneCode":63},182,"Andorra",376,{"id":65,"name":66,"phoneCode":67},6,"Angola",244,{"id":69,"name":70,"phoneCode":71},184,"Anguilla",1264,{"id":73,"name":74,"phoneCode":75},186,"Antartica",672,{"id":77,"name":78,"phoneCode":79},183,"Antigua and Barbuda",1268,{"id":81,"name":82,"phoneCode":83},7,"Argentina",54,{"id":85,"name":86,"phoneCode":87},5,"Armenia",374,{"id":89,"name":90,"phoneCode":91},188,"Aruba",297,{"id":93,"name":94,"phoneCode":95},9,"Australia",61,{"id":97,"name":98,"phoneCode":99},8,"Austria",43,{"id":101,"name":102,"phoneCode":103},10,"Azerbaijan",994,{"id":105,"name":106,"phoneCode":107},21,"Bahamas",1242,{"id":109,"name":110,"phoneCode":111},191,"Bahrain",973,{"id":113,"name":114,"phoneCode":115},204,"Bailiwick of Guernsey",0,{"id":117,"name":118,"phoneCode":115},212,"Bailiwick of Jersey",{"id":120,"name":121,"phoneCode":122},12,"Bangladesh",880,{"id":124,"name":125,"phoneCode":126},190,"Barbados",1246,{"id":128,"name":129,"phoneCode":130},13,"Belgium",32,{"id":132,"name":133,"phoneCode":134},25,"Belize",501,{"id":136,"name":137,"phoneCode":138},17,"Benin",229,{"id":140,"name":141,"phoneCode":142},193,"Bermuda",1441,{"id":144,"name":145,"phoneCode":146},22,"Bhutan",975,{"id":148,"name":149,"phoneCode":150},19,"Bolivia",591,{"id":152,"name":153,"phoneCode":154},185,"Bonaire",599,{"id":156,"name":157,"phoneCode":154},256,"Bonaire, Sint Eustatius and Saba",{"id":159,"name":160,"phoneCode":161},11,"Bosna i Hercegovina",387,{"id":163,"name":164,"phoneCode":165},23,"Botswana",267,{"id":167,"name":168,"phoneCode":115},194,"Bouvet Island",{"id":170,"name":171,"phoneCode":172},20,"Brazil",55,{"id":174,"name":175,"phoneCode":47},211,"British Indian Ocean Territory",{"id":177,"name":178,"phoneCode":179},18,"Brunei",673,{"id":181,"name":182,"phoneCode":183},15,"Bulgaria",359,{"id":185,"name":186,"phoneCode":187},14,"Burkina Faso",226,{"id":189,"name":190,"phoneCode":191},16,"Burundi",257,{"id":193,"name":194,"phoneCode":195},86,"Cambodia",855,{"id":197,"name":198,"phoneCode":199},33,"Cameroon",237,{"id":201,"name":202,"phoneCode":47},26,"Canada",{"id":204,"name":205,"phoneCode":206},197,"Cape Verde",238,{"id":208,"name":209,"phoneCode":210},216,"Cayman Islands",1345,{"id":212,"name":213,"phoneCode":214},28,"Central African Rep.",236,{"id":216,"name":217,"phoneCode":218},155,"Chad",235,{"id":130,"name":220,"phoneCode":221},"Chile",56,{"id":223,"name":224,"phoneCode":193},34,"China",{"id":226,"name":227,"phoneCode":95},198,"Christmas Island",{"id":229,"name":230,"phoneCode":95},195,"Cocos (Keeling) Islands",{"id":232,"name":233,"phoneCode":234},35,"Colombia",57,{"id":236,"name":237,"phoneCode":238},214,"Comoros",269,{"id":240,"name":241,"phoneCode":242},29,"Congo",242,{"id":244,"name":245,"phoneCode":246},196,"Cook Islands",682,{"id":248,"name":249,"phoneCode":250},36,"Costa Rica",506,{"id":252,"name":253,"phoneCode":254},31,"Côte d`Ivoire",225,{"id":256,"name":257,"phoneCode":258},70,"Croatia",385,{"id":260,"name":261,"phoneCode":262},37,"Cuba",53,{"id":264,"name":265,"phoneCode":47},253,"Curaçao",{"id":267,"name":268,"phoneCode":269},38,"Cyprus",357,{"id":271,"name":272,"phoneCode":273},39,"Czech Rep.",420,{"id":275,"name":276,"phoneCode":277},27,"Dem. Rep. Congo",243,{"id":279,"name":280,"phoneCode":281},42,"Denmark",45,{"id":283,"name":284,"phoneCode":264},41,"Djibouti",{"id":286,"name":287,"phoneCode":288},199,"Dominica",1767,{"id":99,"name":290,"phoneCode":291},"Dominican Republic",1809,{"id":281,"name":293,"phoneCode":294},"Ecuador",593,{"id":296,"name":297,"phoneCode":170},47,"Egypt",{"id":299,"name":300,"phoneCode":301},152,"El Salvador",503,{"id":303,"name":304,"phoneCode":305},63,"Eq. Guinea",240,{"id":307,"name":308,"phoneCode":309},49,"Eritrea",291,{"id":311,"name":312,"phoneCode":313},46,"Estonia",372,{"id":315,"name":316,"phoneCode":317},51,"Ethiopia",251,{"id":83,"name":319,"phoneCode":320},"Falkland Is.",500,{"id":322,"name":323,"phoneCode":324},201,"Faroe Islands",298,{"id":262,"name":326,"phoneCode":327},"Fiji",679,{"id":329,"name":330,"phoneCode":331},52,"Finland",358,{"id":333,"name":334,"phoneCode":115},156,"Fr. S. Antarctic Lands",{"id":172,"name":336,"phoneCode":197},"France",{"id":338,"name":339,"phoneCode":47},203,"French Guiana",{"id":341,"name":342,"phoneCode":343},231,"French Polynesia",689,{"id":221,"name":345,"phoneCode":346},"Gabon",241,{"id":95,"name":348,"phoneCode":349},"Gambia",220,{"id":351,"name":352,"phoneCode":353},58,"Georgia",995,{"id":355,"name":356,"phoneCode":307},40,"Germany",{"id":358,"name":359,"phoneCode":360},59,"Ghana",233,{"id":362,"name":363,"phoneCode":364},205,"Gibraltar",350,{"id":366,"name":367,"phoneCode":368},64,"Greece",30,{"id":370,"name":371,"phoneCode":372},60,"Greenland",299,{"id":374,"name":375,"phoneCode":376},202,"Grenada",1473,{"id":378,"name":379,"phoneCode":115},206,"Guadeloupe",{"id":381,"name":382,"phoneCode":383},208,"Guam",1671,{"id":385,"name":386,"phoneCode":387},65,"Guatemala",502,{"id":389,"name":390,"phoneCode":391},62,"Guinea",224,{"id":393,"name":394,"phoneCode":395},66,"Guinea-Bissau",245,{"id":397,"name":398,"phoneCode":399},67,"Guyana",592,{"id":401,"name":402,"phoneCode":403},71,"Haiti",509,{"id":405,"name":406,"phoneCode":115},209,"Heard and Mc Donald Islands",{"id":395,"name":408,"phoneCode":271},"Holy See (Vatican City State)",{"id":410,"name":411,"phoneCode":412},69,"Honduras",504,{"id":414,"name":415,"phoneCode":416},68,"Hong Kong",852,{"id":418,"name":419,"phoneCode":248},72,"Hungary",{"id":421,"name":422,"phoneCode":423},79,"Iceland",354,{"id":425,"name":426,"phoneCode":427},76,"India",91,{"id":429,"name":430,"phoneCode":389},73,"Indonesia",{"id":432,"name":433,"phoneCode":434},78,"Iran",98,{"id":436,"name":437,"phoneCode":438},77,"Iraq",964,{"id":440,"name":441,"phoneCode":442},74,"Ireland",353,{"id":444,"name":445,"phoneCode":53},210,"Isle of Man",{"id":447,"name":448,"phoneCode":449},75,"Israel",972,{"id":451,"name":452,"phoneCode":271},80,"Italy",{"id":454,"name":455,"phoneCode":456},81,"Jamaica",1876,{"id":458,"name":459,"phoneCode":454},83,"Japan",{"id":461,"name":462,"phoneCode":463},82,"Jordan",962,{"id":465,"name":466,"phoneCode":81},90,"Kazakhstan",{"id":468,"name":469,"phoneCode":470},84,"Kenya",254,{"id":55,"name":472,"phoneCode":473},"Kiribati",686,{"id":475,"name":476,"phoneCode":47},176,"Kosovo",{"id":478,"name":479,"phoneCode":480},89,"Kuwait",965,{"id":482,"name":483,"phoneCode":484},85,"Kyrgyzstan",996,{"id":427,"name":486,"phoneCode":487},"Laos",856,{"id":434,"name":489,"phoneCode":490},"Latvia",371,{"id":492,"name":493,"phoneCode":494},92,"Lebanon",961,{"id":496,"name":497,"phoneCode":498},95,"Lesotho",266,{"id":500,"name":501,"phoneCode":502},97,"Lëtzebuerg",352,{"id":504,"name":505,"phoneCode":341},94,"Liberia",{"id":507,"name":508,"phoneCode":509},99,"Libya",218,{"id":509,"name":511,"phoneCode":512},"Liechtenstein",423,{"id":514,"name":515,"phoneCode":516},96,"Lithuania",370,{"id":518,"name":519,"phoneCode":520},222,"Macau",853,{"id":522,"name":523,"phoneCode":524},104,"Macedonia",389,{"id":526,"name":527,"phoneCode":528},103,"Madagascar",261,{"id":530,"name":531,"phoneCode":532},110,"Malawi",265,{"id":534,"name":535,"phoneCode":370},112,"Malaysia",{"id":537,"name":538,"phoneCode":539},227,"Maldives",960,{"id":541,"name":542,"phoneCode":543},105,"Mali",223,{"id":254,"name":545,"phoneCode":546},"Malta",356,{"id":548,"name":549,"phoneCode":550},221,"Marshall Islands",692,{"id":391,"name":552,"phoneCode":47},"Martinique",{"id":554,"name":555,"phoneCode":518},108,"Mauritania",{"id":557,"name":558,"phoneCode":559},109,"Mauritius",1664,{"id":187,"name":558,"phoneCode":561},230,{"id":317,"name":563,"phoneCode":564},"Mayotte",262,{"id":566,"name":567,"phoneCode":329},111,"Mexico",{"id":569,"name":570,"phoneCode":571},200,"Micronesia, Federated States of",691,{"id":573,"name":574,"phoneCode":575},101,"Moldova",373,{"id":577,"name":578,"phoneCode":579},219,"Monaco",377,{"id":581,"name":582,"phoneCode":583},107,"Mongolia",976,{"id":585,"name":586,"phoneCode":587},102,"Montenegro",382,{"id":589,"name":590,"phoneCode":117},100,"Morocco",{"id":592,"name":593,"phoneCode":594},113,"Mozambique",258,{"id":596,"name":597,"phoneCode":496},106,"Myanmar",{"id":599,"name":600,"phoneCode":601},114,"Namibia",264,{"id":138,"name":603,"phoneCode":604},"Nauru",674,{"id":606,"name":607,"phoneCode":608},121,"Nepal",977,{"id":610,"name":611,"phoneCode":252},119,"Netherlands",{"id":613,"name":614,"phoneCode":615},115,"New Caledonia",687,{"id":617,"name":618,"phoneCode":366},122,"New Zealand",{"id":620,"name":621,"phoneCode":622},118,"Nicaragua",505,{"id":624,"name":625,"phoneCode":537},116,"Niger",{"id":627,"name":628,"phoneCode":629},117,"Nigeria",234,{"id":561,"name":631,"phoneCode":632},"Niue",683,{"id":634,"name":635,"phoneCode":47},228,"Norfolk Island",{"id":637,"name":638,"phoneCode":639},87,"North Korea",850,{"id":641,"name":642,"phoneCode":47},175,"Northern Cyprus",{"id":543,"name":644,"phoneCode":645},"Northern Mariana Islands",1670,{"id":647,"name":648,"phoneCode":296},120,"Norway",{"id":650,"name":651,"phoneCode":652},123,"Oman",968,{"id":654,"name":655,"phoneCode":492},128,"Pakistan",{"id":629,"name":657,"phoneCode":658},"Palau",680,{"id":660,"name":661,"phoneCode":47},131,"Palestine",{"id":663,"name":664,"phoneCode":665},124,"Panama",507,{"id":667,"name":668,"phoneCode":669},126,"Papua New Guinea",675,{"id":671,"name":672,"phoneCode":673},133,"Paraguay",595,{"id":675,"name":676,"phoneCode":315},125,"Peru",{"id":678,"name":679,"phoneCode":303},127,"Philippines",{"id":360,"name":681,"phoneCode":682},"Pitcairn",870,{"id":684,"name":685,"phoneCode":686},129,"Poland",48,{"id":688,"name":689,"phoneCode":690},132,"Portugal",351,{"id":692,"name":693,"phoneCode":47},130,"Puerto Rico",{"id":695,"name":696,"phoneCode":697},134,"Qatar",974,{"id":218,"name":699,"phoneCode":115},"Reunion",{"id":701,"name":702,"phoneCode":355},135,"Romania",{"id":704,"name":705,"phoneCode":81},137,"Russia",{"id":707,"name":708,"phoneCode":709},138,"Rwanda",250,{"id":711,"name":712,"phoneCode":47},151,"S. Sudan",{"id":714,"name":715,"phoneCode":716},192,"Saint Barthélemy",590,{"id":718,"name":719,"phoneCode":720},215,"Saint Kitts and Nevis",1869,{"id":722,"name":723,"phoneCode":724},217,"Saint LUCIA",1758,{"id":349,"name":726,"phoneCode":727},"Saint Martin",1599,{"id":729,"name":730,"phoneCode":731},246,"Saint Vincent and the Grenadines",1784,{"id":709,"name":733,"phoneCode":734},"Samoa",685,{"id":206,"name":736,"phoneCode":737},"San Marino",378,{"id":739,"name":740,"phoneCode":739},239,"Sao Tome and Principe",{"id":742,"name":743,"phoneCode":744},139,"Saudi Arabia",966,{"id":746,"name":747,"phoneCode":548},148,"Senegal",{"id":749,"name":750,"phoneCode":751},136,"Serbia",381,{"id":214,"name":753,"phoneCode":754},"Seychelles",248,{"id":756,"name":753,"phoneCode":757},144,290,{"id":759,"name":760,"phoneCode":761},147,"Sierra Leone",232,{"id":763,"name":764,"phoneCode":385},143,"Singapore",{"id":470,"name":766,"phoneCode":47},"Sint Maarten (Dutch part)",{"id":768,"name":769,"phoneCode":770},146,"Slovakia",421,{"id":772,"name":773,"phoneCode":774},145,"Slovenia",386,{"id":776,"name":777,"phoneCode":778},140,"Solomon Is.",677,{"id":780,"name":781,"phoneCode":782},149,"Somalia",252,{"id":784,"name":785,"phoneCode":47},177,"Somaliland",{"id":787,"name":788,"phoneCode":275},179,"South Africa",{"id":790,"name":791,"phoneCode":115},207,"South Georgia and the South Sandwich Islands",{"id":793,"name":794,"phoneCode":461},88,"South Korea",{"id":796,"name":797,"phoneCode":223},50,"Spain",{"id":43,"name":799,"phoneCode":504},"Sri Lanka",{"id":761,"name":801,"phoneCode":802},"St. Pierre and Miquelon",508,{"id":804,"name":805,"phoneCode":806},141,"Sudan",249,{"id":808,"name":809,"phoneCode":810},150,"Suriname",597,{"id":199,"name":812,"phoneCode":115},"Svalbard and Jan Mayen Islands",{"id":814,"name":815,"phoneCode":816},154,"Swaziland",268,{"id":818,"name":819,"phoneCode":311},142,"Sweden",{"id":368,"name":821,"phoneCode":283},"Switzerland",{"id":823,"name":824,"phoneCode":825},153,"Syria",963,{"id":827,"name":828,"phoneCode":829},165,"Taiwan",886,{"id":831,"name":832,"phoneCode":833},159,"Tajikistan",992,{"id":835,"name":836,"phoneCode":837},166,"Tanzania",255,{"id":839,"name":840,"phoneCode":393},158,"Thailand",{"id":842,"name":843,"phoneCode":844},160,"Timor-Leste",670,{"id":846,"name":847,"phoneCode":634},157,"Togo",{"id":346,"name":849,"phoneCode":850},"Tokelau",690,{"id":242,"name":852,"phoneCode":853},"Tonga",676,{"id":855,"name":856,"phoneCode":857},164,"Trinidad and Tobago",1868,{"id":859,"name":860,"phoneCode":208},162,"Tunisia",{"id":862,"name":863,"phoneCode":465},163,"Türkiye",{"id":865,"name":866,"phoneCode":867},161,"Turkmenistan",993,{"id":305,"name":869,"phoneCode":870},"Turks and Caicos Islands",1649,{"id":277,"name":872,"phoneCode":873},"Tuvalu",688,{"id":875,"name":876,"phoneCode":156},168,"Uganda",{"id":878,"name":879,"phoneCode":880},167,"Ukraine",380,{"id":25,"name":882,"phoneCode":883},"United Arab Emirates",971,{"id":234,"name":885,"phoneCode":53},"United Kingdom",{"id":887,"name":888,"phoneCode":47},169,"United States",{"id":67,"name":890,"phoneCode":115},"United States Minor Outlying Islands",{"id":892,"name":893,"phoneCode":894},170,"Uruguay",598,{"id":896,"name":897,"phoneCode":898},171,"Uzbekistan",998,{"id":900,"name":901,"phoneCode":902},174,"Vanuatu",678,{"id":904,"name":905,"phoneCode":351},172,"Venezuela",{"id":907,"name":908,"phoneCode":468},173,"Vietnam",{"id":910,"name":911,"phoneCode":912},247,"Virgin Islands (British)",1284,{"id":754,"name":914,"phoneCode":915},"Virgin Islands (U.S.)",1340,{"id":686,"name":917,"phoneCode":47},"W. Sahara",{"id":806,"name":919,"phoneCode":920},"Wallis and Futuna Islands",681,{"id":922,"name":923,"phoneCode":924},178,"Yemen",967,{"id":837,"name":926,"phoneCode":8},"Yugoslavia",{"id":928,"name":929,"phoneCode":930},180,"Zambia",260,{"id":932,"name":933,"phoneCode":934},181,"Zimbabwe",263,{"id":782,"name":936,"phoneCode":8},"Zona del Canal de Panamá",{"id":938,"name":939,"phoneCode":940},24,"Беларусь",375,[942,965,985,1006,1028,1050,1072,1102,1130,1158,1186,1208,1230,1252,1274,1296,1318,1336,1358,1380,1402,1424],{"id":159,"label":943,"segment":944,"translations":952},"Basic sanitation",{"id":5,"title":6,"translations":945},[946,948,950],{"title":6,"slug":11,"language":947},{"code":13},{"title":15,"slug":16,"language":949},{"code":18},{"title":20,"slug":21,"language":951},{"code":23},[953,957,961],{"label":954,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":955,"language":956},"Basic Sanitation","basic-sanitation",{"code":13},{"label":958,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":959,"language":960},"Saneamento Básico","saneamento-basico",{"code":18},{"label":962,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":963,"language":964},"Saneamiento Básico","saneamiento-basico",{"code":23},{"id":212,"label":966,"segment":967,"translations":975},"Data Center",{"id":25,"title":26,"translations":968},[969,971,973],{"title":26,"slug":30,"language":970},{"code":13},{"title":33,"slug":34,"language":972},{"code":23},{"title":37,"slug":38,"language":974},{"code":18},[976,980,983],{"label":977,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":978,"language":979},"Data Centres","",{"code":13},{"label":981,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":978,"language":982},"Data Centers",{"code":18},{"label":981,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":978,"language":984},{"code":23},{"id":120,"label":986,"segment":987,"translations":995},"Energy",{"id":5,"title":6,"translations":988},[989,991,993],{"title":6,"slug":11,"language":990},{"code":13},{"title":15,"slug":16,"language":992},{"code":18},{"title":20,"slug":21,"language":994},{"code":23},[996,999,1003],{"label":986,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":997,"language":998},"energy",{"code":13},{"label":1000,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1001,"language":1002},"Energia","energia",{"code":18},{"label":1004,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1001,"language":1005},"Energía",{"code":23},{"id":189,"label":1007,"segment":1008,"translations":1016},"Environmental Assets",{"id":5,"title":6,"translations":1009},[1010,1012,1014],{"title":6,"slug":11,"language":1011},{"code":13},{"title":15,"slug":16,"language":1013},{"code":18},{"title":20,"slug":21,"language":1015},{"code":23},[1017,1020,1024],{"label":1007,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1018,"language":1019},"environmental-assets",{"code":13},{"label":1021,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1022,"language":1023},"Ativos Ambientais","ativos-ambientais",{"code":18},{"label":1025,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1026,"language":1027},"Activos Ambientales","activos-ambientales",{"code":23},{"id":97,"label":1029,"segment":1030,"translations":1038},"ESG & Sustainability",{"id":25,"title":26,"translations":1031},[1032,1034,1036],{"title":26,"slug":30,"language":1033},{"code":13},{"title":33,"slug":34,"language":1035},{"code":23},{"title":37,"slug":38,"language":1037},{"code":18},[1039,1042,1046],{"label":1029,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1040,"language":1041},"esg-sustainability",{"code":13},{"label":1043,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1044,"language":1045},"ESG & Sustentabilidade","esg-sustentabilidade",{"code":18},{"label":1047,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1048,"language":1049},"ESG y Sostenibilidad","esg-y-sostenibilidad",{"code":23},{"id":136,"label":1051,"segment":1052,"translations":1060},"Financing & Capital Markets",{"id":5,"title":6,"translations":1053},[1054,1056,1058],{"title":6,"slug":11,"language":1055},{"code":13},{"title":15,"slug":16,"language":1057},{"code":18},{"title":20,"slug":21,"language":1059},{"code":23},[1061,1064,1068],{"label":1051,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1062,"language":1063},"financing-capital-markets",{"code":13},{"label":1065,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1066,"language":1067},"Financiamento & Mercado de Capitais","financiamento-mercado-de-capitais",{"code":18},{"label":1069,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1070,"language":1071},"Financiación y Mercados de Capitales","financiacion-y-mercados-de-capitales",{"code":23},{"id":132,"label":1073,"segment":1074,"translations":1084},"GRI Analisa",{"id":589,"title":1075,"translations":1076},"Latin America",[1077,1080,1082],{"title":1075,"slug":1078,"language":1079},"latin-america",{"code":13},{"title":1075,"slug":1078,"language":1081},{"code":18},{"title":1075,"slug":1078,"language":1083},{"code":23},[1085,1091,1096],{"label":1086,"title":1087,"subtitle":1088,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1089,"language":1090},"GRI Analyses","Strategic thought leadership","The GRI Analyses series presents in-depth diagnostics and original studies by the GRI Institute on high-impact themes. It translates contemporary challenges into technical analysis. That analysis grounds strategic debate.","gri-analyses",{"code":13},{"label":1073,"title":1092,"subtitle":1093,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1094,"language":1095},"Liderança de pensamento estratégico","A série GRI Analisa apresenta diagnósticos aprofundados e estudos originais do GRI Institute sobre temas de alto impacto. Traduz desafios contemporâneos em análise técnica. Essa análise fundamenta o debate estratégico.","gri-analisa",{"code":18},{"label":1097,"title":1098,"subtitle":1099,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1100,"language":1101},"GRI Analiza","Liderazgo de pensamiento estratégico","La serie GRI Analiza presenta diagnósticos en profundidad y estudios originales del GRI Institute sobre temas de alto impacto. Traduce los desafíos contemporáneos en análisis técnico. Ese análisis sustenta el debate estratégico.","gri-analiza",{"code":23},{"id":163,"label":1103,"segment":1104,"translations":1112},"GRI Antecipa",{"id":589,"title":1075,"translations":1105},[1106,1108,1110],{"title":1075,"slug":1078,"language":1107},{"code":13},{"title":1075,"slug":1078,"language":1109},{"code":18},{"title":1075,"slug":1078,"language":1111},{"code":23},[1113,1119,1124],{"label":1114,"title":1115,"subtitle":1116,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1117,"language":1118},"GRI Foresees","Trend analysis","The GRI Foresees series anticipates market trends and movements. It consolidates the critical data captured by the GRI Barometer. The Barometer is the GRI Institute's research tool for measuring the current state of the industry.","gri-foresees",{"code":13},{"label":1103,"title":1120,"subtitle":1121,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1122,"language":1123},"Análise de tendências","A série GRI Antecipa projeta tendências e movimentos de mercado. Consolida os dados críticos captados pelo GRI Barometer. O Barometer é a ferramenta de pesquisa do GRI Institute para medir o estado atual do setor.","gri-antecipa",{"code":18},{"label":1125,"title":1126,"subtitle":1127,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1128,"language":1129},"GRI Anticipa","Análisis de tendencias","La serie GRI Anticipa proyecta tendencias y movimientos del mercado. Consolida los datos críticos captados por el GRI Barometer. El Barometer es la herramienta de investigación del GRI Institute para medir el estado actual del sector.","gri-anticipa",{"code":23},{"id":938,"label":1131,"segment":1132,"translations":1140},"GRI Monitora",{"id":589,"title":1075,"translations":1133},[1134,1136,1138],{"title":1075,"slug":1078,"language":1135},{"code":13},{"title":1075,"slug":1078,"language":1137},{"code":18},{"title":1075,"slug":1078,"language":1139},{"code":23},[1141,1147,1152],{"label":1142,"title":1143,"subtitle":1144,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1145,"language":1146},"GRI Monitors","Leading-edge monitoring","The GRI Monitors series tracks the regulatory landscape in depth. This tracking is essential for sound decision-making. The GRI Institute develops the specialized technical content of the series.","gri-monitors",{"code":13},{"label":1131,"title":1148,"subtitle":1149,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1150,"language":1151},"Monitoramento de vanguarda","A série GRI Monitora acompanha em profundidade o cenário regulatório. Esse acompanhamento é essencial para decisões seguras. O GRI Institute desenvolve o conteúdo técnico especializado da série.","gri-monitora",{"code":18},{"label":1153,"title":1154,"subtitle":1155,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1156,"language":1157},"GRI Monitorea","Monitoreo de vanguardia","La serie GRI Monitorea acompaña en profundidad el escenario regulatorio. Ese seguimiento es esencial para decisiones seguras. El GRI Institute desarrolla el contenido técnico especializado de la serie.","gri-monitorea",{"code":23},{"id":105,"label":1159,"segment":1160,"translations":1168},"GRI Propõe",{"id":589,"title":1075,"translations":1161},[1162,1164,1166],{"title":1075,"slug":1078,"language":1163},{"code":13},{"title":1075,"slug":1078,"language":1165},{"code":18},{"title":1075,"slug":1078,"language":1167},{"code":23},[1169,1175,1180],{"label":1170,"title":1171,"subtitle":1172,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1173,"language":1174},"GRI Proposes","Policy & legal framework proposals","The GRI Proposes series presents strategic recommendations for public policy and legal frameworks. It draws on the collective intelligence of the GRI Institute. It mobilizes the public sector and the market to enable structural transformation across the industry.","gri-proposes",{"code":13},{"label":1159,"title":1176,"subtitle":1177,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1178,"language":1179},"Propostas de marcos legais e regulatórios","A série GRI Propõe apresenta recomendações estratégicas para políticas públicas e marcos legais. Nasce da inteligência coletiva do GRI Institute. Mobiliza o setor público e o mercado para viabilizar transformações estruturais no setor.","gri-propoe",{"code":18},{"label":1181,"title":1182,"subtitle":1183,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1184,"language":1185},"GRI Propone","Propuestas de marcos legales y regulatorios","La serie GRI Propone presenta recomendaciones estratégicas para políticas públicas y marcos legales. Nace de la inteligencia colectiva del GRI Institute. Moviliza al sector público y al mercado para viabilizar transformaciones estructurales en el sector.","gri-propone",{"code":23},{"id":85,"label":1187,"segment":1188,"translations":1196},"Hotel & Hospitality",{"id":25,"title":26,"translations":1189},[1190,1192,1194],{"title":26,"slug":30,"language":1191},{"code":13},{"title":33,"slug":34,"language":1193},{"code":23},{"title":37,"slug":38,"language":1195},{"code":18},[1197,1200,1204],{"label":1187,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1198,"language":1199},"hotel-hospitality",{"code":13},{"label":1201,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1202,"language":1203},"Hotelaria & Hospitalidade","hotelaria-hospitalidade",{"code":18},{"label":1205,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1206,"language":1207},"Hotelería y Hospitalidad","hoteleria-y-hospitalidad",{"code":23},{"id":49,"label":1209,"segment":1210,"translations":1218},"Industrial & Logistics",{"id":25,"title":26,"translations":1211},[1212,1214,1216],{"title":26,"slug":30,"language":1213},{"code":13},{"title":33,"slug":34,"language":1215},{"code":23},{"title":37,"slug":38,"language":1217},{"code":18},[1219,1222,1226],{"label":1209,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1220,"language":1221},"industrial-logistics",{"code":13},{"label":1223,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1224,"language":1225},"Industrial & Logística","industrial-logistica",{"code":18},{"label":1227,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1228,"language":1229},"Industrial y Logístico","industrial-y-logistico",{"code":23},{"id":65,"label":1231,"segment":1232,"translations":1240},"Investments & Finance",{"id":25,"title":26,"translations":1233},[1234,1236,1238],{"title":26,"slug":30,"language":1235},{"code":13},{"title":33,"slug":34,"language":1237},{"code":23},{"title":37,"slug":38,"language":1239},{"code":18},[1241,1244,1248],{"label":1231,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1242,"language":1243},"investments-finance",{"code":13},{"label":1245,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1246,"language":1247},"Investimentos & Fundos Imobiliários","investimentos-e-fundos-imobiliarios",{"code":18},{"label":1249,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1250,"language":1251},"Inversiones y Fondos Inmobiliarios","fondos-inmobiliarios-y-financiacion",{"code":23},{"id":93,"label":1253,"segment":1254,"translations":1262},"Legal\u002FCorporate\u002FGeopolitics",{"id":25,"title":26,"translations":1255},[1256,1258,1260],{"title":26,"slug":30,"language":1257},{"code":13},{"title":33,"slug":34,"language":1259},{"code":23},{"title":37,"slug":38,"language":1261},{"code":18},[1263,1266,1270],{"label":1253,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1264,"language":1265},"legal-corporate-geopolitics",{"code":13},{"label":1267,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1268,"language":1269},"Legislação & Jurídico","legislacao-juridico",{"code":18},{"label":1271,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1272,"language":1273},"Legislación y Legal","legislacion-y-legal",{"code":23},{"id":25,"label":1275,"segment":1276,"translations":1284},"Offices",{"id":25,"title":26,"translations":1277},[1278,1280,1282],{"title":26,"slug":30,"language":1279},{"code":13},{"title":33,"slug":34,"language":1281},{"code":23},{"title":37,"slug":38,"language":1283},{"code":18},[1285,1288,1292],{"label":1275,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1286,"language":1287},"offices",{"code":13},{"label":1289,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1290,"language":1291},"Lajes Corporativas","lajes-corporativas",{"code":18},{"label":1293,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1294,"language":1295},"Oficinas","oficinas",{"code":23},{"id":47,"label":1297,"segment":1298,"translations":1306},"Residential & BTR",{"id":25,"title":26,"translations":1299},[1300,1302,1304],{"title":26,"slug":30,"language":1301},{"code":13},{"title":33,"slug":34,"language":1303},{"code":23},{"title":37,"slug":38,"language":1305},{"code":18},[1307,1310,1314],{"label":1297,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1308,"language":1309},"residential-btr",{"code":13},{"label":1311,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1312,"language":1313},"Residencial & BTR","residencial-btr",{"code":18},{"label":1315,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1316,"language":1317},"Residencial y Multifamily","residencial-y-multifamily",{"code":23},{"id":5,"label":1319,"segment":1320,"translations":1328},"Shopping & Retail",{"id":25,"title":26,"translations":1321},[1322,1324,1326],{"title":26,"slug":30,"language":1323},{"code":13},{"title":33,"slug":34,"language":1325},{"code":23},{"title":37,"slug":38,"language":1327},{"code":18},[1329,1332,1334],{"label":1319,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1330,"language":1331},"shopping-retail",{"code":13},{"label":1319,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1330,"language":1333},{"code":18},{"label":1319,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1330,"language":1335},{"code":23},{"id":181,"label":1337,"segment":1338,"translations":1346},"Social Infrastructure",{"id":5,"title":6,"translations":1339},[1340,1342,1344],{"title":6,"slug":11,"language":1341},{"code":13},{"title":15,"slug":16,"language":1343},{"code":18},{"title":20,"slug":21,"language":1345},{"code":23},[1347,1350,1354],{"label":1337,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1348,"language":1349},"social-infrastructure",{"code":13},{"label":1351,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1352,"language":1353},"Infraestrutura Social","infraestrutura-socia",{"code":18},{"label":1355,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1356,"language":1357},"Infraestructura Social","infraestructura-social",{"code":23},{"id":81,"label":1359,"segment":1360,"translations":1368},"Technology & Innovation",{"id":25,"title":26,"translations":1361},[1362,1364,1366],{"title":26,"slug":30,"language":1363},{"code":13},{"title":33,"slug":34,"language":1365},{"code":23},{"title":37,"slug":38,"language":1367},{"code":18},[1369,1372,1376],{"label":1359,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1370,"language":1371},"technology-innovation",{"code":13},{"label":1373,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1374,"language":1375},"Tecnologia & Inovação","tecnologia-inovacao",{"code":18},{"label":1377,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1378,"language":1379},"Tecnología e Innovación","tecnologia-y-innovacion",{"code":23},{"id":128,"label":1381,"segment":1382,"translations":1390},"Telecommunications",{"id":5,"title":6,"translations":1383},[1384,1386,1388],{"title":6,"slug":11,"language":1385},{"code":13},{"title":15,"slug":16,"language":1387},{"code":18},{"title":20,"slug":21,"language":1389},{"code":23},[1391,1394,1398],{"label":1381,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1392,"language":1393},"telecommunications",{"code":13},{"label":1395,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1396,"language":1397},"Telecomunicações","telecomunicacoes",{"code":18},{"label":1399,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1400,"language":1401},"Telecomunicaciones","telecomunicaciones",{"code":23},{"id":101,"label":1403,"segment":1404,"translations":1412},"Transport & Logistics",{"id":5,"title":6,"translations":1405},[1406,1408,1410],{"title":6,"slug":11,"language":1407},{"code":13},{"title":15,"slug":16,"language":1409},{"code":18},{"title":20,"slug":21,"language":1411},{"code":23},[1413,1416,1420],{"label":1403,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1414,"language":1415},"transport-logistics",{"code":13},{"label":1417,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1418,"language":1419},"Transportes & Logística","transportes-logistica",{"code":18},{"label":1421,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1422,"language":1423},"Transporte y Logística","transporte-y-logistica",{"code":23},{"id":185,"label":1425,"segment":1426,"translations":1434},"Urban Mobility",{"id":5,"title":6,"translations":1427},[1428,1430,1432],{"title":6,"slug":11,"language":1429},{"code":13},{"title":15,"slug":16,"language":1431},{"code":18},{"title":20,"slug":21,"language":1433},{"code":23},[1435,1438,1442],{"label":1425,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1436,"language":1437},"urban-mobility",{"code":13},{"label":1439,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1440,"language":1441},"Mobilidade Urbana","mobilidade-urbana",{"code":18},{"label":1443,"title":8,"subtitle":8,"seoTitle":8,"seoDescription":8,"videoPlaylistUrl":8,"videoTitle":8,"videoSubtitle":8,"slug":1444,"language":1445},"Movilidad Urbana","movilidad-urbana",{"code":23},{"id":1447,"status":1448,"segmentId":25,"slug":1449,"title":1450,"editorsPick":1451,"topImage":1452,"coverImage":1452,"slideImage":8,"publishDate":1453,"readTime":8,"maxRelatedEvents":5,"image":8,"imageCredit":8,"imageCreditColor":8,"breakNewsUntil":8,"seoTagConversionId":8,"seoTag":8,"seoTitle":8,"seoKeywords":8,"seoDescription":8,"seoAbstract":8,"seoImage":8,"visitCounter":1454,"createdAt":1455,"updatedAt":8,"translations":1456,"segment":1490,"categories":1498,"countries":1531,"authors":1543,"urls":1547},3294,"TRUE","colombia-2026-ciclo-tasas-demanda-residencial-hospitalidad-estructura-capital","Colombia 2026: el ciclo de tasas redefine quién captura la demanda residencial y hospitalaria reprimida",false,"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002Fcolombia-2026-ciclo-tasas-demanda-residencial-hospitalidad-estructura-capital.webp","2026-03-17T00:00:00.000Z",1331,"2026-03-17T20:14:15.000Z",[1457,1469,1480],{"id":1458,"newsId":1447,"languageId":47,"title":1459,"subtitle":1460,"content":1461,"summary":1462,"takeaways":1463,"seoTagConversionId":8,"seoTag":8,"seoTitle":1464,"seoKeywords":1465,"seoDescription":1466,"seoAbstract":8,"seoImage":1467,"createdAt":1455,"updatedAt":8,"language":1468},3871,"Colombia 2026: the rate cycle redefines who captures pent-up residential and hospitality demand","With rates at 10.25% and sales growing at double digits, the strategic window favors institutional capital over the traditional financed buyer.","\u003Ch2>The macro context reshaping real estate capital structure in Colombia\u003C\u002Fh2>\n\u003Cp>Colombia is going through a juncture that demands a rethink of investment theses in residential and hospitality. The Banco de la República set the monetary policy rate at 10.25% in early 2026, according to data from the central bank itself and BBVA Research. This level raises the cost of conventional mortgage credit but simultaneously creates fertile ground for players with equity capital or access to international financing. The result is a profound reconfiguration of who buys, how capital is structured, and what type of real estate product concentrates demand.\u003C\u002Fp>\n\u003Cp>The Colombian economy is growing at an estimated 2.7% GDP rate for 2026, according to projections by Convexo Real Estate Law, driven by domestic demand and gradual macroeconomic stabilization. This moderate growth, combined with still-elevated rates, paints a scenario where the real estate recovery does not depend on massive credit expansion but rather on the selective entry of institutional and cross-border capital finding attractive valuations.\u003C\u002Fp>\n\u003Cp>Pent-up demand already showed strong signals in 2025: 173,632 homes were sold in Colombia, a 12.4% increase over the previous year, according to Camacol. For 2026, Convexo Real Estate Law projects an additional 11.5% growth in new housing sales, with particularly strong performance in the non-social housing (No VIS) segment. These figures confirm that demand exists and is accumulating. The central question is who has the capital structure to capture it.\u003C\u002Fp>\n\u003Ch2>Why do high rates favor institutional capital rather than stalling investment?\u003C\u002Fh2>\n\u003Cp>The conventional reading associates high rates with real estate paralysis. In Colombia, the reality is more nuanced. Rates at 10.25% effectively shrink the universe of buyers dependent on local mortgage credit. But for private equity funds, family offices, and institutional vehicles with access to dollar-denominated financing or equity capital, the current environment offers a window to acquire assets below replacement cost.\u003C\u002Fp>\n\u003Cp>This phenomenon is clearly visible in the Andean region. The Independencia Rentas Inmobiliarias fund, led by Fernando Sánchez, reported 2025 as its most profitable year on record, according to Diario Financiero. This result demonstrates that vehicles structured with corporate governance discipline capture value precisely during restrictive rate cycles, when less-capitalized competitors withdraw from the market.\u003C\u002Fp>\n\u003Cp>The institutionalization of Andean capital is advancing irreversibly. The case of Cristian Menichetti, who lost control of Grupo Patio under pressure from creditor banks and institutional investors, as reported by GRI Hub News in February 2026, illustrates a structural transition. The market now demands platforms with robust governance, transparency in ownership structure, and alignment of interests with investors. Personal or family vehicles lacking these attributes face growing difficulties in accessing financing and retaining capital.\u003C\u002Fp>\n\u003Cp>For Colombia, this regional trend has direct implications. Chilean, Peruvian, and Mexican capital flowing into Colombian residential and hospitality arrives increasingly channeled through regulated funds rather than direct investments by individuals. Whoever structures the vehicle better captures the capital.\u003C\u002Fp>\n\u003Ch2>How do residential and hospitality converge to capture 2026 demand?\u003C\u002Fh2>\n\u003Cp>The boundary between residential and hospitality is blurring rapidly in markets like Medellín, Cartagena, and Bogotá. Short-term rental yields in Colombia reach between 10% and 15% annually, driven by the boom in digital nomads and tourism, according to data from Builds and Buys for the 2025-2026 period. These figures far exceed traditional residential rental yields and explain why developers and investors are repositioning assets to operate at the intersection of both segments.\u003C\u002Fp>\n\u003Cp>The mixed-use model, combining residential units with hospitality and service components, is emerging as the typology with the greatest capacity to absorb diverse demand. In the Andean region, Urbanova Inmobiliaria, part of Grupo Breca, leads the development of financial districts and mixed-use spaces such as Las Begonias in Peru, according to data from Fynsa and Tinsa. This type of urban regeneration project sets the standard for Colombia, where demand requires products that simultaneously serve the permanent resident, the executive on an extended stay, and the short-term tourist.\u003C\u002Fp>\n\u003Cp>The residential-hospitality convergence is not just a product trend—it is a risk mitigation strategy. An asset that can operate as a long-term rental when tourist occupancy dips, or capture hospitality premiums when seasonal demand rises, has a more resilient cash flow profile than a purely residential or purely hotel asset.\u003C\u002Fp>\n\u003Ch2>Infrastructure as a silent catalyst\u003C\u002Fh2>\n\u003Cp>No residential or hospitality investment thesis holds without connectivity infrastructure. Grupo Ortiz consolidated its presence in Colombia by closing the financing of the Puerto Salgar-Barrancabermeja and Sabana de Torres-Curumaní road corridors for up to 2.3 and 2 trillion Colombian pesos respectively, according to information from Cuatrecasas. These road infrastructure investments not only improve national logistics but also open real estate development corridors in areas that previously lacked sufficient connectivity to attract institutional capital.\u003C\u002Fp>\n\u003Cp>The relationship between transport infrastructure and real estate appreciation is well documented. For residential and hospitality investors, mapping the execution timelines of these road corridors allows them to identify entry windows in secondary markets before the connectivity improvement is fully reflected in land prices.\u003C\u002Fp>\n\u003Ch2>What regulatory risks could alter the investment thesis?\u003C\u002Fh2>\n\u003Cp>The main regulatory risk that institutional investors are monitoring in Colombia is the decree under discussion that would require pension funds to transfer resources to the government. If materialized, this measure would reduce the long-term investment capacity of pension funds in institutional real estate, eliminating a significant source of patient capital that has historically anchored large-scale projects.\u003C\u002Fp>\n\u003Cp>This fiscal risk underscores the importance of diversifying capital sources. Developers and operators that rely exclusively on local institutional investors face a structural vulnerability. Those that have built relationships with cross-border capital, sovereign wealth funds, or pan-regional investment platforms have greater resilience against adverse regulatory changes.\u003C\u002Fp>\n\u003Cp>The tension between fiscal policy and the real estate capital market will be one of the central discussion topics at upcoming GRI Institute events dedicated to the Colombian market, where residential and hospitality sector leaders periodically analyze how to navigate these cycles.\u003C\u002Fp>\n\u003Ch2>The strategic window and its implications\u003C\u002Fh2>\n\u003Cp>Colombia offers in 2026 a rare combination: pent-up demand gradually being released, rates that filter out competition, double-digit hospitality yields, and infrastructure improvements under execution. The window is not permanent. As rates decline, as analysts' base scenarios anticipate, the cost of entry will rise and discounted acquisition opportunities will close.\u003C\u002Fp>\n\u003Cp>Capital that positions itself now—with institutional structure, transparent governance, and the ability to operate at the residential-hospitality convergence—will capture a disproportionate share of the value generated by the recovery. Operators waiting for \"perfect\" credit conditions will arrive when prices already reflect monetary normalization.\u003C\u002Fp>\n\u003Cp>Structured funds with a proven track record, such as those reporting record returns in the Andean region, have a competitive advantage in raising capital in this environment. The professionalization of the investor base in Latin America, a recurring theme in GRI Institute ecosystem discussions, is the factor that enables turning a high-rate cycle into a long-term positioning opportunity.\u003C\u002Fp>\n\u003Cp>The Colombian residential and hospitality market does not reward those with access to the cheapest credit, but rather those who understand that capital structure defines capture capacity at each phase of the cycle.\u003C\u002Fp>","Colombia faces elevated rates (10.25%) in 2026 that raise mortgage costs but create opportunities for institutional capital with equity or international financing. Home sales grew 12.4% in 2025, with an additional 11.5% projected, while short-term rental yields reach 10%-15% annually. The convergence of residential and hospitality, major road infrastructure projects, and Andean capital institutionalization define the current strategic window. The key risk is regulatory: a potential decree forcing pension funds to transfer resources to the government.","\u003Cul>\n\u003Cli>At 10.25% rates, institutional and cross-border capital displaces traditional mortgage buyers as the driver of Colombian real estate demand.\u003C\u002Fli>\n\u003Cli>Home sales grew 12.4% in 2025, with an additional 11.5% projected for 2026, confirming accumulated pent-up demand.\u003C\u002Fli>\n\u003Cli>Short-term rentals yield 10%-15% annually, driving residential-hospitality convergence.\u003C\u002Fli>\n\u003Cli>Trillion-peso road corridors open new secondary markets for real estate investment.\u003C\u002Fli>\n\u003Cli>Regulatory risk targeting pension funds threatens a key source of local patient capital.\u003C\u002Fli>\n\u003C\u002Ful>\n","Colombia 2026: rates and pent-up residential demand","grupo ortiz colombia, cristian menichetti, urbanova, fernando sanchez independencia, colombia real estate, institutional capital, hospitality investment","Strategic analysis of how the Banco de la República's rate cycle is reshaping capital structure in Colombian residential and hospitality, and which institutional players are capturing pent-up demand in 2026.","https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002Fcolombia-2026-ciclo-tasas-demanda-residencial-hospitalidad-estructura-capital-seo.jpg",{"code":13},{"id":1470,"newsId":1447,"languageId":25,"title":1471,"subtitle":1472,"content":1473,"summary":1474,"takeaways":1475,"seoTagConversionId":8,"seoTag":8,"seoTitle":1476,"seoKeywords":1477,"seoDescription":1478,"seoAbstract":8,"seoImage":1467,"createdAt":1455,"updatedAt":8,"language":1479},3872,"Colômbia 2026: o ciclo de juros redefine quem captura a demanda residencial e hoteleira reprimida","Com juros a 10,25% e vendas crescendo em dois dígitos, a janela estratégica favorece o capital institucional sobre o comprador financiado tradicional.","\u003Ch2>O contexto macro que reordena a estrutura de capital imobiliário na Colômbia\u003C\u002Fh2>\n\u003Cp>A Colômbia atravessa uma conjuntura que obriga a repensar as teses de investimento em residencial e hospitalidade. O Banco de la República fixou a taxa de política monetária em 10,25% no início de 2026, segundo dados do próprio banco central e BBVA Research. É um patamar que encarece o crédito hipotecário convencional, mas que, simultaneamente, gera um terreno fértil para atores com capital próprio ou acesso a financiamento internacional. O resultado é uma reconfiguração profunda de quem compra, como se estrutura o capital e que tipo de produto imobiliário concentra a demanda.\u003C\u002Fp>\n\u003Cp>A economia colombiana cresce a um ritmo estimado de 2,7% do PIB para 2026, segundo projeções da Convexo Real Estate Law, impulsionada pela demanda interna e estabilização macroeconômica gradual. Esse crescimento moderado, combinado com taxas ainda elevadas, desenha um cenário onde a recuperação imobiliária não depende de uma expansão creditícia massiva, mas da entrada seletiva de capital institucional e cross-border que encontra valuations atrativos.\u003C\u002Fp>\n\u003Cp>A demanda reprimida já deu sinais contundentes em 2025: foram vendidas 173.632 moradias na Colômbia, um incremento de 12,4% em relação ao ano anterior, de acordo com a Camacol. Para 2026, a Convexo Real Estate Law projeta um crescimento adicional de 11,5% nas vendas de habitação nova, com desempenho particularmente forte no segmento No VIS. Esses números confirmam que a demanda existe e se acumula. A questão central é quem tem a estrutura de capital para capturá-la.\u003C\u002Fp>\n\u003Ch2>Por que juros altos favorecem o capital institucional e não freiam o investimento?\u003C\u002Fh2>\n\u003Cp>A leitura convencional associa taxas elevadas com paralisia imobiliária. Na Colômbia, a realidade é mais matizada. As taxas de 10,25% efetivamente reduzem o universo de compradores que dependem de crédito hipotecário local. Mas para fundos de capital privado, family offices e veículos institucionais com acesso a financiamento em dólares ou capital próprio, o ambiente atual oferece uma janela de aquisição de ativos abaixo do seu valor de reposição.\u003C\u002Fp>\n\u003Cp>Esse fenômeno se observa com clareza na região andina. O fundo Independencia Rentas Inmobiliarias, liderado por Fernando Sánchez, reportou em 2025 seu ano de maior rentabilidade histórica, segundo o Diario Financiero. Esse resultado demonstra que os veículos estruturados com disciplina de governança corporativa capturam valor precisamente em ciclos de taxas restritivas, quando os competidores menos capitalizados se retiram do mercado.\u003C\u002Fp>\n\u003Cp>A institucionalização do capital andino avança de forma irreversível. O caso de Cristian Menichetti, que perdeu o controle do Grupo Patio ante a pressão de bancos credores e investidores institucionais, conforme reportou o GRI Hub News em fevereiro de 2026, ilustra uma transição estrutural. O mercado exige agora plataformas com governança robusta, transparência na estrutura acionária e alinhamento de interesses com os investidores. Os veículos pessoais ou familiares que carecem desses atributos enfrentam dificuldades crescentes para acessar financiamento e reter capital.\u003C\u002Fp>\n\u003Cp>Para a Colômbia, essa tendência regional tem implicações diretas. O capital chileno, peruano e mexicano que flui para o residencial e a hospitalidade colombiana chega cada vez mais canalizado por meio de fundos regulados, e não de investimentos diretos de pessoas físicas. Quem estrutura melhor o veículo, captura o capital.\u003C\u002Fp>\n\u003Ch2>Como convergem residencial e hospitalidade para capturar a demanda de 2026?\u003C\u002Fh2>\n\u003Cp>A fronteira entre residencial e hospitalidade se dissolve com rapidez em mercados como Medellín, Cartagena e Bogotá. As rentabilidades para aluguéis de curto prazo na Colômbia alcançam entre 10% e 15% ao ano, impulsionadas pelo auge de nômades digitais e turismo, segundo dados da Builds and Buys para o período 2025-2026. Esses números superam amplamente os rendimentos de aluguel residencial tradicional e explicam por que incorporadores e investidores reposicionam ativos para operar na interseção de ambos os segmentos.\u003C\u002Fp>\n\u003Cp>O modelo de uso misto, que combina unidades residenciais com componentes de hospitalidade e serviços, emerge como a tipologia com maior capacidade de absorção de demanda diversa. Na região andina, a Urbanova Inmobiliaria, parte do Grupo Breca, lidera o desenvolvimento de distritos financeiros e espaços de uso misto como Las Begonias no Peru, segundo dados da Fynsa e Tinsa. Esse tipo de projeto de regeneração urbana marca a pauta para a Colômbia, onde a demanda exige produtos que sirvam simultaneamente ao residente permanente, ao executivo em estadia prolongada e ao turista de curto prazo.\u003C\u002Fp>\n\u003Cp>A convergência residencial-hospitalidade não é apenas uma tendência de produto, é uma estratégia de mitigação de risco. Um ativo que pode operar como aluguel de longo prazo quando a ocupação turística cai, ou capturar prêmios de hospitalidade quando a demanda sazonal sobe, tem um perfil de fluxo de caixa mais resiliente do que um ativo puramente residencial ou puramente hoteleiro.\u003C\u002Fp>\n\u003Ch2>A infraestrutura como catalisador silencioso\u003C\u002Fh2>\n\u003Cp>Nenhuma tese de investimento residencial ou de hospitalidade se sustenta sem infraestrutura de conectividade. O Grupo Ortiz consolidou sua presença na Colômbia ao fechar o financiamento dos corredores viários Puerto Salgar-Barrancabermeja e Sabana de Torres-Curumaní por até 2,3 e 2 trilhões de pesos colombianos respectivamente, segundo informações da Cuatrecasas. Esses investimentos em infraestrutura viária não apenas melhoram a logística nacional, mas abrem corredores de desenvolvimento imobiliário em zonas que anteriormente careciam de conectividade suficiente para atrair capital institucional.\u003C\u002Fp>\n\u003Cp>A relação entre infraestrutura de transporte e valorização imobiliária está amplamente documentada. Para os investidores em residencial e hospitalidade, mapear os cronogramas de execução desses corredores viários permite identificar janelas de entrada em mercados secundários antes que a melhoria na conectividade se reflita plenamente nos preços do solo.\u003C\u002Fp>\n\u003Ch2>Quais riscos regulatórios poderiam alterar a tese de investimento?\u003C\u002Fh2>\n\u003Cp>O principal risco regulatório que os investidores institucionais monitoram na Colômbia é o decreto em discussão que exigiria que os fundos de pensão transferissem recursos ao governo. Se materializado, essa medida reduziria a capacidade de investimento de longo prazo dos fundos de pensão em imóveis institucionais, eliminando uma fonte significativa de capital paciente que historicamente ancorou projetos de grande escala.\u003C\u002Fp>\n\u003Cp>Esse risco fiscal ressalta a importância de diversificar as fontes de capital. Os incorporadores e operadores que dependem exclusivamente de investidores institucionais locais enfrentam uma vulnerabilidade estrutural. Aqueles que construíram relações com capital cross-border, fundos soberanos ou plataformas de investimento pan-regionais têm maior capacidade de resiliência diante de mudanças regulatórias adversas.\u003C\u002Fp>\n\u003Cp>A tensão entre política fiscal e mercado de capitais imobiliário será um dos temas centrais de discussão nos próximos encontros do GRI Institute dedicados ao mercado colombiano, onde líderes dos setores residencial e de hospitalidade analisam periodicamente como navegar esses ciclos.\u003C\u002Fp>\n\u003Ch2>A janela estratégica e suas implicações\u003C\u002Fh2>\n\u003Cp>A Colômbia oferece em 2026 uma combinação pouco frequente: demanda reprimida que se libera gradualmente, taxas que filtram concorrência, yields de hospitalidade de dois dígitos e melhorias de infraestrutura em execução. A janela não é permanente. À medida que as taxas caírem, como antecipam os cenários base dos analistas, o custo de entrada subirá e as oportunidades de aquisição com desconto se fecharão.\u003C\u002Fp>\n\u003Cp>O capital que se posiciona agora, com estrutura institucional, governança transparente e capacidade de operar na convergência residencial-hospitalidade, capturará uma parcela desproporcional do valor que a recuperação gerará. Os operadores que esperam condições creditícias \"perfeitas\" chegarão quando os preços já refletirem a normalização monetária.\u003C\u002Fp>\n\u003Cp>Os fundos estruturados com track record comprovado, como os que reportam rentabilidades recordes na região andina, têm vantagem competitiva para captar capital nesse ambiente. A profissionalização da base investidora na América Latina, tema recorrente nas discussões do ecossistema GRI Institute, é o fator que permite converter um ciclo de juros altos em uma oportunidade de posicionamento de longo prazo.\u003C\u002Fp>\n\u003Cp>O mercado residencial e de hospitalidade colombiano não premia quem tem acesso ao crédito mais barato, mas quem entende que a estrutura de capital define a capacidade de captura em cada fase do ciclo.\u003C\u002Fp>","A Colômbia enfrenta em 2026 juros elevados (10,25%) que encarecem o crédito hipotecário, mas geram oportunidades para capital institucional com financiamento próprio ou internacional. As vendas de moradias cresceram 12,4% em 2025, com projeção de 11,5% adicional, enquanto aluguéis de curto prazo rendem 10%-15% ao ano. A convergência residencial-hospitalidade, megaprojetos de infraestrutura viária e a institucionalização do capital andino definem a janela estratégica. O principal risco é regulatório: possível decreto obrigando fundos de pensão a transferir recursos ao governo.","\u003Cul>\n\u003Cli>Com juros a 10,25%, o capital institucional e cross-border desloca o comprador hipotecário tradicional como motor da demanda imobiliária colombiana.\u003C\u002Fli>\n\u003Cli>As vendas de moradias cresceram 12,4% em 2025 e projeta-se 11,5% adicional em 2026, confirmando demanda reprimida acumulada.\u003C\u002Fli>\n\u003Cli>Aluguéis de curto prazo rendem entre 10% e 15% ao ano, impulsionando a convergência residencial-hospitalidade.\u003C\u002Fli>\n\u003Cli>Corredores viários de trilhões de pesos abrem novos mercados secundários para investimento imobiliário.\u003C\u002Fli>\n\u003Cli>O risco regulatório sobre fundos de pensão ameaça uma fonte-chave de capital paciente local.\u003C\u002Fli>\n\u003C\u002Ful>\n","Colômbia 2026: juros e demanda residencial reprimida","grupo ortiz colômbia, cristian menichetti, urbanova, fernando sanchez independencia, mercado imobiliário colômbia, capital institucional, hospitalidade colômbia","Análise estratégica sobre como o ciclo de juros do Banco de la República redefine a estrutura de capital em residencial e hospitalidade na Colômbia, e quais atores institucionais capturam a demanda reprimida de 2026.",{"code":18},{"id":1481,"newsId":1447,"languageId":5,"title":1450,"subtitle":1482,"content":1483,"summary":1484,"takeaways":1485,"seoTagConversionId":8,"seoTag":8,"seoTitle":1486,"seoKeywords":1487,"seoDescription":1488,"seoAbstract":8,"seoImage":1467,"createdAt":1455,"updatedAt":8,"language":1489},3873,"Con tasas en 10,25% y ventas creciendo a doble dígito, la ventana estratégica favorece al capital institucional sobre el comprador financiado tradicional.","\u003Ch2>El contexto macro que reordena la estructura de capital inmobiliario en Colombia\u003C\u002Fh2>\n\u003Cp>Colombia atraviesa una coyuntura que obliga a repensar las tesis de inversión en residencial y hospitalidad. El Banco de la República fijó la tasa de política monetaria en 10,25% a principios de 2026, según datos del propio banco central y BBVA Research. Es un nivel que encarece el crédito hipotecario convencional pero que, simultáneamente, genera un terreno fértil para actores con capital propio o acceso a financiamiento internacional. El resultado es una reconfiguración profunda de quién compra, cómo se estructura el capital y qué tipo de producto inmobiliario concentra la demanda.\u003C\u002Fp>\n\u003Cp>La economía colombiana crece a un ritmo estimado de 2,7% del PIB para 2026, según proyecciones de Convexo Real Estate Law, impulsada por demanda interna y estabilización macroeconómica gradual. Este crecimiento moderado, combinado con tasas aún elevadas, dibuja un escenario donde la recuperación inmobiliaria no depende de una expansión crediticia masiva, sino de la entrada selectiva de capital institucional y cross-border que encuentra valoraciones atractivas.\u003C\u002Fp>\n\u003Cp>La demanda reprimida ya dio señales contundentes en 2025: se vendieron 173.632 viviendas en Colombia, un incremento del 12,4% frente al año anterior, de acuerdo con Camacol. Para 2026, Convexo Real Estate Law proyecta un crecimiento adicional del 11,5% en ventas de vivienda nueva, con desempeño particularmente fuerte en el segmento No VIS. Estas cifras confirman que la demanda existe y se acumula. La pregunta central es quién tiene la estructura de capital para capturarla.\u003C\u002Fp>\n\u003Ch2>¿Por qué las tasas altas favorecen al capital institucional y no frenan la inversión?\u003C\u002Fh2>\n\u003Cp>La lectura convencional asocia tasas elevadas con parálisis inmobiliaria. En Colombia, la realidad es más matizada. Las tasas de 10,25% efectivamente reducen el universo de compradores que dependen de crédito hipotecario local. Pero para fondos de capital privado, family offices y vehículos institucionales con acceso a financiamiento en dólares o capital propio, el entorno actual ofrece una ventana de adquisición de activos por debajo de su valor de reposición.\u003C\u002Fp>\n\u003Cp>Este fenómeno se observa con claridad en la región andina. El fondo Independencia Rentas Inmobiliarias, liderado por Fernando Sánchez, reportó en 2025 su año de mayor rentabilidad histórica, según Diario Financiero. Este resultado demuestra que los vehículos estructurados con disciplina de gobierno corporativo capturan valor precisamente en ciclos de tasas restrictivas, cuando los competidores menos capitalizados se retiran del mercado.\u003C\u002Fp>\n\u003Cp>La institucionalización del capital andino avanza de forma irreversible. El caso de Cristian Menichetti, quien perdió el control de Grupo Patio ante la presión de bancos acreedores e inversores institucionales, según reportó GRI Hub News en febrero de 2026, ilustra una transición estructural. El mercado exige ahora plataformas con gobernanza robusta, transparencia en la estructura accionaria y alineación de intereses con los inversionistas. Los vehículos personales o familiares que carecen de estos atributos enfrentan crecientes dificultades para acceder a financiamiento y retener capital.\u003C\u002Fp>\n\u003Cp>Para Colombia, esta tendencia regional tiene implicaciones directas. El capital chileno, peruano y mexicano que fluye hacia el residencial y la hospitalidad colombiana llega cada vez más canalizado a través de fondos regulados, no de inversiones directas de personas naturales. Quien estructura mejor el vehículo, captura el capital.\u003C\u002Fp>\n\u003Ch2>¿Cómo convergen residencial y hospitalidad para capturar la demanda de 2026?\u003C\u002Fh2>\n\u003Cp>La frontera entre residencial y hospitalidad se desdibuja con rapidez en mercados como Medellín, Cartagena y Bogotá. Las rentabilidades para alquileres a corto plazo en Colombia alcanzan entre el 10% y el 15% anual, impulsadas por el auge de nómadas digitales y turismo, según datos de Builds and Buys para el período 2025-2026. Estas cifras superan ampliamente los rendimientos de alquiler residencial tradicional y explican por qué desarrolladores e inversionistas reposicionan activos para operar en la intersección de ambos segmentos.\u003C\u002Fp>\n\u003Cp>El modelo de uso mixto, que combina unidades residenciales con componentes de hospitalidad y servicios, emerge como la tipología con mayor capacidad de absorción de demanda diversa. En la región andina, Urbanova Inmobiliaria, parte del Grupo Breca, lidera el desarrollo de distritos financieros y espacios de uso mixto como Las Begonias en Perú, según datos de Fynsa y Tinsa. Este tipo de proyectos de regeneración urbana marca la pauta para Colombia, donde la demanda exige productos que sirvan simultáneamente al residente permanente, al ejecutivo en estadía extendida y al turista de corto plazo.\u003C\u002Fp>\n\u003Cp>La convergencia residencial-hospitalidad no es solo una tendencia de producto, es una estrategia de mitigación de riesgo. Un activo que puede operar como alquiler de largo plazo cuando la ocupación turística baja, o capturar primas de hospitalidad cuando la demanda estacional sube, tiene un perfil de flujo de caja más resiliente que un activo puramente residencial o puramente hotelero.\u003C\u002Fp>\n\u003Ch2>La infraestructura como catalizador silencioso\u003C\u002Fh2>\n\u003Cp>Ninguna tesis de inversión residencial o de hospitalidad se sostiene sin infraestructura de conectividad. Grupo Ortiz consolidó su presencia en Colombia al cerrar la financiación de los corredores viales Puerto Salgar-Barrancabermeja y Sabana de Torres-Curumaní por hasta 2,3 y 2 billones de pesos colombianos respectivamente, según información de Cuatrecasas. Estas inversiones en infraestructura vial no solo mejoran la logística nacional, sino que abren corredores de desarrollo inmobiliario en zonas que anteriormente carecían de conectividad suficiente para atraer capital institucional.\u003C\u002Fp>\n\u003Cp>La relación entre infraestructura de transporte y valorización inmobiliaria está ampliamente documentada. Para los inversionistas en residencial y hospitalidad, mapear los cronogramas de ejecución de estos corredores viales permite identificar ventanas de entrada en mercados secundarios antes de que la mejora en conectividad se refleje plenamente en los precios del suelo.\u003C\u002Fp>\n\u003Ch2>¿Qué riesgos regulatorios podrían alterar la tesis de inversión?\u003C\u002Fh2>\n\u003Cp>El principal riesgo regulatorio que monitorean los inversionistas institucionales en Colombia es el decreto en discusión que requeriría a los fondos de pensiones transferir recursos al gobierno. Si se materializa, esta medida reduciría la capacidad de inversión a largo plazo de los fondos pensionales en bienes raíces institucionales, eliminando una fuente significativa de capital paciente que históricamente ha anclado proyectos de gran escala.\u003C\u002Fp>\n\u003Cp>Este riesgo fiscal subraya la importancia de diversificar las fuentes de capital. Los desarrolladores y operadores que dependen exclusivamente de inversionistas institucionales locales enfrentan una vulnerabilidad estructural. Aquellos que han construido relaciones con capital cross-border, fondos soberanos o plataformas de inversión panregionales tienen mayor capacidad de resiliencia ante cambios regulatorios adversos.\u003C\u002Fp>\n\u003Cp>La tensión entre política fiscal y mercado de capitales inmobiliario será uno de los temas centrales de discusión en los próximos encuentros del GRI Institute dedicados al mercado colombiano, donde líderes del sector residencial y de hospitalidad analizan periódicamente cómo navegar estos ciclos.\u003C\u002Fp>\n\u003Ch2>La ventana estratégica y sus implicaciones\u003C\u002Fh2>\n\u003Cp>Colombia ofrece en 2026 una combinación poco frecuente: demanda reprimida que se libera gradualmente, tasas que filtran competencia, yields de hospitalidad de doble dígito y mejoras de infraestructura en ejecución. La ventana no es permanente. A medida que las tasas desciendan, como anticipan los escenarios base de los analistas, el costo de entrada subirá y las oportunidades de adquisición a descuento se cerrarán.\u003C\u002Fp>\n\u003Cp>El capital que se posiciona ahora, con estructura institucional, gobernanza transparente y capacidad de operar en la convergencia residencial-hospitalidad, capturará una porción desproporcionada del valor que genere la recuperación. Los operadores que esperan condiciones crediticias "perfectas" llegarán cuando los precios ya reflejen la normalización monetaria.\u003C\u002Fp>\n\u003Cp>Los fondos estructurados con track record probado, como los que reportan rentabilidades récord en la región andina, tienen ventaja competitiva para levantar capital en este entorno. La profesionalización de la base inversora en América Latina, tema recurrente en las discusiones del ecosistema GRI Institute, es el factor que permite convertir un ciclo de tasas altas en una oportunidad de posicionamiento de largo plazo.\u003C\u002Fp>\n\u003Cp>El mercado residencial y de hospitalidad colombiano no premia a quien tiene acceso al crédito más barato, sino a quien entiende que la estructura de capital define la capacidad de captura en cada fase del ciclo.\u003C\u002Fp>\n","Colombia enfrenta en 2026 un entorno de tasas elevadas (10,25%) que encarece el crédito hipotecario pero genera oportunidades para capital institucional con acceso a financiamiento propio o internacional. Las ventas de vivienda crecieron 12,4% en 2025, con proyección de 11,5% adicional, mientras los rendimientos de alquiler a corto plazo alcanzan 10%-15% anual.\n\nLa convergencia entre residencial y hospitalidad, los mega-proyectos de infraestructura vial y la institucionalización del capital andino definen la ventana estratégica actual. El principal riesgo es regulatorio: un posible decreto que obligue a fondos de pensiones a transferir recursos al gobierno reduciría el capital disponible para inversión inmobiliaria de largo plazo.","\u003Cul>\n\u003Cli>Con tasas en 10,25%, el capital institucional y cross-border desplaza al comprador hipotecario tradicional como motor de la demanda inmobiliaria colombiana.\u003C\u002Fli>\n\u003Cli>Las ventas de vivienda crecieron 12,4% en 2025 y se proyecta un 11,5% adicional en 2026, confirmando demanda reprimida acumulada.\u003C\u002Fli>\n\u003Cli>Los alquileres de corto plazo rinden entre 10% y 15% anual, impulsando la convergencia residencial-hospitalidad.\u003C\u002Fli>\n\u003Cli>Corredores viales por billones de pesos abren nuevos mercados secundarios para inversión inmobiliaria.\u003C\u002Fli>\n\u003Cli>El riesgo regulatorio sobre fondos de pensiones amenaza una fuente clave de capital paciente local.\u003C\u002Fli>\n\u003C\u002Ful>\n","Colombia 2026: tasas y demanda residencial reprimida","grupo ortiz colombia, cristian menichetti, urbanova, fernando sanchez independencia","Análisis estratégico sobre cómo el ciclo de tasas del Banco de la República redefine la estructura de capital en residencial y hospitalidad en Colombia, y qué actores institucionales capturan la demanda reprimida de 2026.",{"code":23},{"id":25,"color":27,"translations":1491},[1492,1494,1496],{"title":26,"slug":30,"language":1493},{"code":13},{"title":37,"slug":38,"language":1495},{"code":18},{"title":33,"slug":34,"language":1497},{"code":23},[1499,1507,1515,1523],{"id":47,"label":1297,"translations":1500},[1501,1503,1505],{"label":1297,"slug":1308,"language":1502},{"code":13},{"label":1311,"slug":1312,"language":1504},{"code":18},{"label":1315,"slug":1316,"language":1506},{"code":23},{"id":85,"label":1187,"translations":1508},[1509,1511,1513],{"label":1187,"slug":1198,"language":1510},{"code":13},{"label":1201,"slug":1202,"language":1512},{"code":18},{"label":1205,"slug":1206,"language":1514},{"code":23},{"id":65,"label":1231,"translations":1516},[1517,1519,1521],{"label":1231,"slug":1242,"language":1518},{"code":13},{"label":1245,"slug":1246,"language":1520},{"code":18},{"label":1249,"slug":1250,"language":1522},{"code":23},{"id":136,"label":1051,"translations":1524},[1525,1527,1529],{"label":1051,"slug":1062,"language":1526},{"code":13},{"label":1065,"slug":1066,"language":1528},{"code":18},{"label":1069,"slug":1070,"language":1530},{"code":23},[1532,1534,1536,1539,1541],{"name":82,"enName":82,"ptName":82,"iso2":1533},"AR",{"name":220,"enName":220,"ptName":220,"iso2":1535},"CL",{"name":233,"enName":233,"ptName":1537,"iso2":1538},"Colômbia","CO",{"name":567,"enName":567,"ptName":567,"iso2":1540},"MX",{"name":676,"enName":676,"ptName":676,"iso2":1542},"PE",[1544],{"name":1545,"slug":1546,"image":8,"order":115},"GRI Institute","gri-institute",{"en":1548,"pt-BR":1549,"es":1550},"\u002Freal-estate\u002Fcolombia-2026-ciclo-tasas-demanda-residencial-hospitalidad-estructura-capital","\u002Fmercado-imobiliario\u002Fcolombia-2026-ciclo-tasas-demanda-residencial-hospitalidad-estructura-capital","\u002Fmercado-inmobiliario\u002Fcolombia-2026-ciclo-tasas-demanda-residencial-hospitalidad-estructura-capital",[1552,1553,1554,1555,1556,1557],"Infra Brazil","Infra Latam","Real Estate Brazil","Real Estate Europe","Real Estate India","Real Estate Latam"]