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Latinoamérica",false,"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002Fcrear-cimientos-gestion-obra-cadena-valor-inmobiliario-latinoamerica.webp","2026-03-07T00:00:00.000Z",744,"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},3638,"Crear Cimientos and the construction management model redefining real estate value chains in Latin America","Construction management firms capture strategic margins by separating technical execution from capital risk, transforming regional development.","\u003Ch2>A new strategic link emerges in the Latin American real estate chain\u003C\u002Fh2>\n\u003Cp>For decades, the discussion on value creation in Latin American real estate revolved around two poles: the developer who structures the deal and the investor who provides the capital. Between both, construction was relegated to an operational function—a cost center to be compressed in order to maximize returns. That reading is no longer sufficient.\u003C\u002Fp>\n\u003Cp>A group of firms specializing in construction management is demonstrating that physical execution constitutes, in itself, a business model with its own competitive advantages, differentiated margins, and the ability to scale without assuming the land's equity risk. Crear Cimientos, a Colombian developer headquartered in Medellín, operates under what it defines as "pure project management": it separates physical execution from investment and acts as a central gear in the value chain, according to information published by GRI Hub. Grupo Campos, from Chile, is investing 160 million dollars to expand a vertically integrated model into Peru and Colombia, according to Diario Financiero. Arquitectoma, in Mexico, is consolidating a developer-builder approach. Each represents a different response to the same question: who captures the value generated between the architectural blueprint and the handover of keys.\u003C\u002Fp>\n\u003Cp>The construction market in Latin America is projected to reach a value of 905 billion dollars by 2030, according to estimates from Scotts International. That figure underscores the scale of the territory in dispute. The relevant question is no longer how much will be built, but who will control the most profitable links in that production chain.\u003C\u002Fp>\n\u003Ch2>How does the pure project management model work and why does it represent a competitive advantage?\u003C\u002Fh2>\n\u003Cp>The model implemented by Crear Cimientos is based on a structural premise: the construction management firm does not invest in the land nor assume the financial risk of development. Its role is to coordinate, optimize, and execute construction as a comprehensive technical service. This separation between capital and execution generates three specific advantages.\u003C\u002Fp>\n\u003Cp>First, it enables scaling without the liquidity constraints faced by traditional developers. While a developer needs to raise equity or debt for each new project, the construction management firm can multiply operational mandates with significantly lower capital requirements.\u003C\u002Fp>\n\u003Cp>Second, it concentrates the value proposition on measurable operational efficiency: schedule compliance, direct cost control, and execution quality. These three indicators translate into predictable margins for the developer and reduced execution risk for the funder.\u003C\u002Fp>\n\u003Cp>Third, it positions the builder as a neutral actor in the project's capital structure, which facilitates its participation in transactions with multiple co-investors, institutional funds, or investment vehicles that demand clear governance and separation of functions.\u003C\u002Fp>\n\u003Cp>\u003Cstrong>Specialized construction management becomes a strategic asset when it can demonstrate that it reduces execution risk without diluting the developer's return.\u003C\u002Fstrong> This formula, which for years operated in the shadow of the value chain, now attracts institutional attention because it addresses a concrete market need: more complex projects require more sophisticated operators.\u003C\u002Fp>\n\u003Cp>The Colombian context favors this dynamic. Camacol projects a rebound in housing sales in Bogotá and Cundinamarca for 2025, following the decline recorded in 2024. A sales recovery cycle pressures the market's execution capacity, creating demand for firms that can manage construction to institutional standards. Crear Cimientos positions itself precisely at this intersection between reactivated demand and available operational capacity.\u003C\u002Fp>\n\u003Ch2>What distinguishes Grupo Campos' vertical integration from the pure management model?\u003C\u002Fh2>\n\u003Cp>The most revealing contrast in the region occurs between the approaches of Crear Cimientos and Grupo Campos. The Chilean firm is executing a 160-million-dollar investment to expand its vertically integrated model—encompassing design, construction, and operations—into Peru and Colombia, as reported by Diario Financiero. Its logistics portfolio plans a 60% expansion during 2025.\u003C\u002Fp>\n\u003Cp>While pure project management disaggregates functions to gain flexibility, vertical integration consolidates them to capture margins at every stage. Grupo Campos controls everything from the architectural concept to the management of the finished asset, allowing it to optimize design decisions based on construction costs and, subsequently, on operational efficiency.\u003C\u002Fp>\n\u003Cp>\u003Cstrong>Both models share a conviction: physical execution can no longer be treated as an outsourced commodity, but as a core competency that defines the project's economic viability.\u003C\u002Fstrong> The difference lies in the risk ownership structure. In vertical integration, the same entity assumes both capital and execution risk. In pure management, these risks are distributed among distinct actors with contractually aligned incentives.\u003C\u002Fp>\n\u003Cp>In Peru, Legislative Decree No. 1362 regulates private investment through public-private partnerships and asset projects. Its regulations, amended in December 2024 through DS 277-2024-EF, seek to streamline processes. This regulatory framework opens space for both integrated models and specialized construction managers that can operate within PPP structures with the technical discipline they demand.\u003C\u002Fp>\n\u003Cp>Grupo Campos' expansion into Colombia and Peru raises an additional strategic question: how do local operators react when a regional firm with capital and integrated capabilities enters their markets? The answer, in many cases, is by specializing. Firms like Crear Cimientos can differentiate themselves precisely because they do not compete for the same type of mandate. Their value proposition complements, rather than displaces, that of the developer or fund.\u003C\u002Fp>\n\u003Ch2>What does Mexico's public spending contraction mean for regional builders?\u003C\u002Fh2>\n\u003Cp>The Mexican landscape introduces a contrasting variable. The Mexican Chamber of the Construction Industry (CMIC) projects a sector contraction in Mexico for 2025 due to reduced public spending on infrastructure. For builders like GIA Constructora, whose profile is more closely tied to large-scale public works, this contraction represents a direct challenge.\u003C\u002Fp>\n\u003Cp>However, Mexico simultaneously offers a significant stimulus for private investment. Plan México provides tax incentives including immediate deductions of 41% to 91% on fixed assets and an additional 25% on training, aimed at fostering new investments and attracting nearshoring. \u003Cstrong>A contraction in public spending does not equate to a contraction in the construction market when private investment, driven by tax incentives and nearshoring demand, can partially offset that gap.\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp>This dual scenario confirms that construction and project management firms need to diversify their mandate sources. Those that depend exclusively on public tenders face fiscal austerity cycles. Those that manage to position themselves as technical managers serving private capital, institutional funds, or developers with access to tax incentives find a more stable demand base.\u003C\u002Fp>\n\u003Cp>Arquitectoma, as a Mexican firm that integrates development and construction, operates in a market where this distinction is especially relevant. Its developer-builder model allows it to capture value on both sides of the equation, though with the capital risk exposure that entails.\u003C\u002Fp>\n\u003Ch2>The link that defines the new regional competitiveness\u003C\u002Fh2>\n\u003Cp>The evolution of the construction sector in Latin America reveals a structural trend that transcends individual market cycles. Firms that manage construction to institutional standards—whether through pure project management, vertical integration, or hybrid models—are capturing a growing share of the value generated in the real estate chain.\u003C\u002Fp>\n\u003Cp>GRI Institute has documented this transformation through its research program and leadership gatherings in the region, where developers, builders, and investment funds debate the operational implications of these models. Discussion at recent GRI ecosystem forums confirms that institutional investors increasingly pay attention to execution capability as a project selection criterion, not just projected financial returns.\u003C\u002Fp>\n\u003Cp>The Latin American construction market, with its projection toward 905 billion dollars by 2030, offers sufficient room for multiple models. The relevant competition will not be among builders over price, but among business models over efficiency, transparency, and the ability to scale without compromising quality. The firms that understand this dynamic—such as Crear Cimientos in Colombia, Grupo Campos in the Southern Cone, or Arquitectoma in Mexico—will define the operational standards of the next decade.\u003C\u002Fp>","A new strategic link emerges in the Latin American real estate chain: specialized construction management firms capturing value by separating technical execution from capital risk. Crear Cimientos (Colombia) operates under \"pure project management,\" Grupo Campos (Chile) pursues vertical integration with a 160-million-dollar regional expansion, and Arquitectoma (Mexico) consolidates a developer-builder model. With a market projected at 905 billion dollars by 2030, the relevant competition is no longer over price but over efficiency, transparency, and scalability.","\u003Cul>\n\u003Cli>Construction management firms like Crear Cimientos capture strategic margins by separating physical execution from capital risk, scaling without liquidity constraints.\u003C\u002Fli>\n\u003Cli>Latin America's construction market is projected to reach 905 billion dollars by 2030.\u003C\u002Fli>\n\u003Cli>Grupo Campos is investing 160 million dollars in vertical integration, expanding into Peru and Colombia.\u003C\u002Fli>\n\u003Cli>Mexico's public spending contraction is partially offset by tax incentives for nearshoring and private investment.\u003C\u002Fli>\n\u003Cli>Institutional investors increasingly prioritize execution capability as a key project selection criterion.\u003C\u002Fli>\n\u003C\u002Ful>\n","Crear Cimientos: construction management in LatAm","crear cimientos, gia constructora, grupo campos, arquitectoma, construction management, latin america construction, project management, vertical integration","Strategic analysis of how firms like Crear Cimientos, Grupo Campos, and Arquitectoma are redefining Latin America's real estate value chain through differentiated construction management models.","https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002Fcrear-cimientos-gestion-obra-cadena-valor-inmobiliario-latinoamerica-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},3639,"Crear Cimientos e o modelo de gestão de obras que redefine a cadeia de valor imobiliário na América Latina","Firmas de execução física capturam margens estratégicas ao separar a gestão técnica do risco de capital, transformando o desenvolvimento regional.","\u003Ch2>Um novo elo estratégico surge na cadeia imobiliária latino-americana\u003C\u002Fh2>\n\u003Cp>Durante décadas, a discussão sobre criação de valor no setor imobiliário latino-americano girou em torno de dois polos: o incorporador que estrutura o negócio e o investidor que aporta o capital. Entre ambos, a construção ficou relegada a uma função operacional, um centro de custo que precisava ser comprimido para maximizar retornos. Essa leitura já se mostra insuficiente.\u003C\u002Fp>\n\u003Cp>Um grupo de firmas especializadas em gestão de obras está demonstrando que a execução física constitui, por si só, um modelo de negócio com vantagens competitivas próprias, margens diferenciadas e capacidade de escalar sem assumir o risco patrimonial da terra. Crear Cimientos, incorporadora colombiana com sede em Medellín, opera sob o que define como "project management puro": separa a execução física do investimento e atua como engrenagem central na cadeia de valor, segundo informações publicadas pelo GRI Hub. Grupo Campos, a partir do Chile, investe 160 milhões de dólares para expandir um modelo de integração vertical para Peru e Colômbia, segundo o Diario Financiero. Arquitectoma, no México, consolida uma abordagem de incorporador-construtor. Cada uma representa uma resposta distinta à mesma pergunta: quem captura o valor gerado entre o projeto arquitetônico e a entrega das chaves.\u003C\u002Fp>\n\u003Cp>O mercado de construção na América Latina projeta alcançar um valor de 905 bilhões de dólares até 2030, de acordo com estimativas da Scotts International. Esse número sublinha a dimensão do terreno em disputa. A pergunta relevante já não é quanto será construído, mas quem controlará os elos mais rentáveis dessa cadeia produtiva.\u003C\u002Fp>\n\u003Ch2>Como funciona o modelo de project management puro e por que representa uma vantagem competitiva?\u003C\u002Fh2>\n\u003Cp>O modelo implementado pela Crear Cimientos parte de uma premissa estrutural: a firma de gestão de obras não investe no terreno nem assume o risco financeiro do empreendimento. Sua função consiste em coordenar, otimizar e executar a construção como um serviço técnico integral. Essa separação entre capital e execução gera três vantagens concretas.\u003C\u002Fp>\n\u003Cp>Primeira, permite escalar sem as restrições de liquidez enfrentadas pelos incorporadores tradicionais. Enquanto um incorporador precisa levantar equity ou dívida para cada novo projeto, a firma de gestão de obras pode multiplicar mandatos operacionais com requisitos de capital significativamente menores.\u003C\u002Fp>\n\u003Cp>Segunda, concentra a proposta de valor em eficiência operacional mensurável: cumprimento de prazos, controle de custos diretos e qualidade de execução. Esses três indicadores se traduzem em margens previsíveis para o incorporador e em uma redução do risco de execução para o financiador.\u003C\u002Fp>\n\u003Cp>Terceira, posiciona a construtora como um ator neutro na estrutura de capital do projeto, o que facilita sua participação em operações com múltiplos coinvestidores, fundos institucionais ou veículos de investimento que exigem governança clara e separação de funções.\u003C\u002Fp>\n\u003Cp>\u003Cstrong>A gestão de obras especializada se torna um ativo estratégico quando consegue demonstrar que reduz o risco de execução sem diluir o retorno do incorporador.\u003C\u002Fstrong> Essa fórmula, que durante anos operou na sombra da cadeia de valor, hoje atrai atenção institucional porque responde a uma necessidade concreta do mercado: projetos mais complexos exigem operadores mais sofisticados.\u003C\u002Fp>\n\u003Cp>O contexto colombiano favorece essa dinâmica. A Camacol projeta uma retomada nas vendas de habitação em Bogotá e Cundinamarca para 2025, após a queda registrada em 2024. Um ciclo de recuperação de vendas pressiona a capacidade de execução do mercado, criando demanda para firmas capazes de gerir obras com padrões institucionais. Crear Cimientos se posiciona precisamente nessa intersecção entre demanda reativada e capacidade operacional disponível.\u003C\u002Fp>\n\u003Ch2>O que diferencia a integração vertical do Grupo Campos do modelo de gestão pura?\u003C\u002Fh2>\n\u003Cp>O contraste mais revelador na região se dá entre a abordagem da Crear Cimientos e a do Grupo Campos. A firma chilena executa um investimento de 160 milhões de dólares para expandir seu modelo de integração vertical, que abrange projeto, construção e operação, para Peru e Colômbia, conforme reportou o Diario Financiero. Seu portfólio logístico planeja uma expansão de 60% durante 2025.\u003C\u002Fp>\n\u003Cp>Enquanto o project management puro desagrega funções para ganhar flexibilidade, a integração vertical as consolida para capturar margens em cada etapa. Grupo Campos controla desde o conceito arquitetônico até a gestão do ativo concluído, o que lhe permite otimizar decisões de projeto em função de custos de construção e, posteriormente, de eficiência operacional.\u003C\u002Fp>\n\u003Cp>\u003Cstrong>Ambos os modelos compartilham uma convicção: a execução física já não pode ser tratada como uma commodity subcontratada, mas como uma competência central que define a viabilidade econômica do projeto.\u003C\u002Fstrong> A diferença reside na estrutura de propriedade do risco. Na integração vertical, a mesma entidade assume risco de capital e de execução. Na gestão pura, esses riscos se distribuem entre atores distintos com incentivos alinhados contratualmente.\u003C\u002Fp>\n\u003Cp>No Peru, o Decreto Legislativo N° 1362 regula o investimento privado mediante associações público-privadas e projetos em ativos. Seu regulamento, modificado em dezembro de 2024 pelo DS 277-2024-EF, busca agilizar processos. Esse marco regulatório abre espaço tanto para modelos integrados quanto para gestores de obras especializados que possam operar dentro de estruturas de PPP com a disciplina técnica que estas exigem.\u003C\u002Fp>\n\u003Cp>A expansão do Grupo Campos para Colômbia e Peru levanta uma questão estratégica adicional: como reagem os operadores locais quando uma firma regional com capital e capacidade integrada entra em seus mercados? A resposta, em vários casos, é especializando-se. Firmas como Crear Cimientos podem se diferenciar precisamente porque não competem pelo mesmo tipo de mandato. Sua proposta de valor complementa, em vez de deslocar, a do incorporador ou do fundo.\u003C\u002Fp>\n\u003Ch2>O que a contração do gasto público no México implica para as construtoras da região?\u003C\u002Fh2>\n\u003Cp>O panorama mexicano introduz uma variável de contraste. A Câmara Mexicana da Indústria da Construção (CMIC) projeta uma contração do setor no México para 2025 devido à redução do gasto público em infraestrutura. Para construtoras como GIA Constructora, cujo perfil está mais vinculado a obras públicas de grande escala, essa contração representa um desafio direto.\u003C\u002Fp>\n\u003Cp>No entanto, o México oferece simultaneamente um estímulo significativo para o investimento privado. O Plan México concede estímulos fiscais que incluem dedução imediata de 41% a 91% em ativos fixos e 25% adicional em capacitação, orientados a fomentar novos investimentos e atrair nearshoring. \u003Cstrong>A contração do gasto público não equivale a uma contração do mercado de construção quando o investimento privado, impulsionado por incentivos fiscais e demanda de nearshoring, pode compensar parcialmente esse vazio.\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp>Esse cenário dual confirma que as firmas de construção e gestão de obras precisam diversificar suas fontes de mandato. As que dependem exclusivamente de licitações públicas enfrentam ciclos de austeridade fiscal. As que conseguem se posicionar como gestoras técnicas a serviço do capital privado, fundos institucionais ou incorporadores com acesso a incentivos fiscais encontram uma base de demanda mais estável.\u003C\u002Fp>\n\u003Cp>Arquitectoma, como firma mexicana que integra incorporação e construção, opera em um mercado onde essa distinção é especialmente relevante. Seu modelo de incorporador-construtor permite capturar valor em ambos os lados da equação, embora com a exposição ao risco de capital que isso implica.\u003C\u002Fp>\n\u003Ch2>O elo que define a nova competitividade regional\u003C\u002Fh2>\n\u003Cp>A evolução do setor de construção na América Latina revela uma tendência estrutural que transcende os ciclos de mercado individuais. As firmas que gerem obras com padrões institucionais, seja por meio de project management puro, integração vertical ou modelos híbridos, estão capturando uma parcela crescente do valor gerado na cadeia imobiliária.\u003C\u002Fp>\n\u003Cp>O GRI Institute tem documentado essa transformação por meio de seu programa de pesquisa e seus encontros de liderança na região, onde incorporadores, construtoras e fundos de investimento debatem as implicações operacionais desses modelos. A discussão em fóruns recentes do ecossistema GRI confirma que os investidores institucionais prestam cada vez mais atenção à capacidade de execução como critério de seleção de projetos, e não apenas ao retorno financeiro projetado.\u003C\u002Fp>\n\u003Cp>O mercado latino-americano de construção, com sua projeção de 905 bilhões de dólares até 2030, oferece espaço suficiente para múltiplos modelos. A competição relevante não será entre construtoras por preço, mas entre modelos de negócio por eficiência, transparência e capacidade de escalar sem comprometer qualidade. As firmas que compreenderem essa dinâmica, como Crear Cimientos na Colômbia, Grupo Campos no Cone Sul ou Arquitectoma no México, definirão os padrões operacionais da próxima década.\u003C\u002Fp>","Um novo elo estratégico surge na cadeia imobiliária latino-americana: firmas especializadas em gestão de obras que capturam valor separando a execução técnica do risco de capital. Crear Cimientos (Colômbia) opera sob \"project management puro\", Grupo Campos (Chile) aposta na integração vertical com 160 milhões de dólares em expansão regional, e Arquitectoma (México) consolida um modelo incorporador-construtor. Com um mercado projetado em 905 bilhões de dólares até 2030, a competição relevante já não é por preço, mas por eficiência, transparência e capacidade de escalar.","\u003Cul>\n\u003Cli>Firmas de gestão de obras como Crear Cimientos capturam margens estratégicas separando execução física do risco de capital, escalando sem restrições de liquidez.\u003C\u002Fli>\n\u003Cli>O mercado de construção na América Latina projeta alcançar 905 bilhões de dólares até 2030.\u003C\u002Fli>\n\u003Cli>Grupo Campos investe 160 milhões de dólares em integração vertical, expandindo-se para Peru e Colômbia.\u003C\u002Fli>\n\u003Cli>A contração do gasto público no México é parcialmente compensada por incentivos fiscais ao nearshoring e investimento privado.\u003C\u002Fli>\n\u003Cli>Investidores institucionais priorizam cada vez mais a capacidade de execução como critério de seleção de projetos.\u003C\u002Fli>\n\u003C\u002Ful>\n","Crear Cimientos: gestão de obras na América Latina","crear cimientos, gia constructora, grupo campos, arquitectoma, gestão de obras, construção américa latina, project management, integração vertical","Análise estratégica sobre como firmas como Crear Cimientos, Grupo Campos e Arquitectoma redefinem a cadeia de valor imobiliário na América Latina por meio de modelos diferenciados de gestão de obras.",{"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},3640,"Firmas de ejecución física capturan márgenes estratégicos al separar la gestión técnica del riesgo de capital, transformando el desarrollo regional.","\u003Ch2>Un nuevo eslabón estratégico emerge en la cadena inmobiliaria latinoamericana\u003C\u002Fh2>\n\u003Cp>Durante décadas, la discusión sobre creación de valor en el sector inmobiliario latinoamericano giró en torno a dos polos: el desarrollador que estructura el negocio y el inversor que aporta el capital. Entre ambos, la construcción quedó relegada a una función operativa, un centro de costo que debía comprimirse para maximizar retornos. Esa lectura ya resulta insuficiente.\u003C\u002Fp>\n\u003Cp>Un grupo de firmas especializadas en gestión de obra está demostrando que la ejecución física constituye, en sí misma, un modelo de negocio con ventajas competitivas propias, márgenes diferenciados y capacidad de escalar sin asumir el riesgo patrimonial de la tierra. Crear Cimientos, desarrolladora colombiana con sede en Medellín, opera bajo lo que define como "project management puro": separa la ejecución física de la inversión y actúa como engranaje central en la cadena de valor, según información publicada por GRI Hub. Grupo Campos, desde Chile, invierte 160 millones de dólares para expandir un modelo de integración vertical hacia Perú y Colombia, según Diario Financiero. Arquitectoma, en México, consolida un enfoque de desarrollador-constructor. Cada una representa una respuesta distinta a la misma pregunta: quién captura el valor que se genera entre el plano arquitectónico y la entrega de llaves.\u003C\u002Fp>\n\u003Cp>El mercado de construcción en América Latina se proyecta a alcanzar un valor de 905 mil millones de dólares para 2030, de acuerdo con estimaciones de Scotts International. Esa cifra subraya la dimensión del terreno en disputa. La pregunta relevante ya no es cuánto se construirá, sino quién controlará los eslabones más rentables de esa cadena productiva.\u003C\u002Fp>\n\u003Ch2>¿Cómo funciona el modelo de project management puro y por qué representa una ventaja competitiva?\u003C\u002Fh2>\n\u003Cp>El modelo que implementa Crear Cimientos parte de una premisa estructural: la firma de gestión de obra no invierte en el terreno ni asume el riesgo financiero del desarrollo. Su función consiste en coordinar, optimizar y ejecutar la construcción como un servicio técnico integral. Esta separación entre capital y ejecución genera tres ventajas concretas.\u003C\u002Fp>\n\u003Cp>Primera, permite escalar sin las restricciones de liquidez que enfrentan los desarrolladores tradicionales. Mientras un desarrollador necesita levantar equity o deuda para cada nuevo proyecto, la firma de gestión de obra puede multiplicar mandatos operativos con requerimientos de capital significativamente menores.\u003C\u002Fp>\n\u003Cp>Segunda, concentra la propuesta de valor en eficiencia operativa medible: cumplimiento de plazos, control de costos directos y calidad de ejecución. Estos tres indicadores se traducen en márgenes predecibles para el desarrollador y en una reducción del riesgo de ejecución para el fondeador.\u003C\u002Fp>\n\u003Cp>Tercera, posiciona a la constructora como un actor neutral en la estructura de capital del proyecto, lo que facilita su participación en operaciones con múltiples coinversores, fondos institucionales o vehículos de inversión que exigen gobernanza clara y separación de funciones.\u003C\u002Fp>\n\u003Cp>\u003Cstrong>La gestión de obra especializada se convierte en un activo estratégico cuando logra demostrar que reduce el riesgo de ejecución sin diluir el retorno del desarrollador.\u003C\u002Fstrong> Esta fórmula, que durante años operó en la sombra de la cadena de valor, hoy atrae atención institucional porque responde a una necesidad concreta del mercado: proyectos más complejos requieren operadores más sofisticados.\u003C\u002Fp>\n\u003Cp>El contexto colombiano favorece esta dinámica. Camacol proyecta un repunte en las ventas de vivienda en Bogotá y Cundinamarca para 2025, tras la caída registrada en 2024. Un ciclo de recuperación de ventas presiona la capacidad de ejecución del mercado, creando demanda para firmas que puedan gestionar obra con estándares institucionales. Crear Cimientos se posiciona precisamente en esa intersección entre demanda reactivada y capacidad operativa disponible.\u003C\u002Fp>\n\u003Ch2>¿Qué diferencia a la integración vertical de Grupo Campos frente al modelo de gestión pura?\u003C\u002Fh2>\n\u003Cp>El contraste más revelador en la región se da entre el enfoque de Crear Cimientos y el de Grupo Campos. La firma chilena ejecuta una inversión de 160 millones de dólares para expandir su modelo de integración vertical, que abarca diseño, construcción y operación, hacia Perú y Colombia, según reportó Diario Financiero. Su portafolio logístico planea una expansión del 60% durante 2025.\u003C\u002Fp>\n\u003Cp>Mientras el project management puro desagrega funciones para ganar flexibilidad, la integración vertical las consolida para capturar márgenes en cada etapa. Grupo Campos controla desde el concepto arquitectónico hasta la gestión del activo terminado, lo que le permite optimizar decisiones de diseño en función de costos de construcción y, posteriormente, de eficiencia operativa.\u003C\u002Fp>\n\u003Cp>\u003Cstrong>Ambos modelos comparten una convicción: la ejecución física ya no puede tratarse como una commodity subcontratada, sino como una competencia central que define la viabilidad económica del proyecto.\u003C\u002Fstrong> La diferencia radica en la estructura de propiedad del riesgo. En la integración vertical, la misma entidad asume riesgo de capital y de ejecución. En la gestión pura, estos riesgos se distribuyen entre actores distintos con incentivos alineados contractualmente.\u003C\u002Fp>\n\u003Cp>En Perú, el Decreto Legislativo N° 1362 regula la inversión privada mediante asociaciones público privadas y proyectos en activos. Su reglamento, modificado en diciembre de 2024 mediante el DS 277-2024-EF, busca agilizar procesos. Este marco regulatorio abre espacio tanto para modelos integrados como para gestores de obra especializados que puedan operar dentro de estructuras APP con la disciplina técnica que estas exigen.\u003C\u002Fp>\n\u003Cp>La expansión de Grupo Campos hacia Colombia y Perú plantea una pregunta estratégica adicional: ¿cómo reaccionan los operadores locales cuando una firma regional con capital y capacidad integrada entra en sus mercados? La respuesta, en varios casos, es especializándose. Firmas como Crear Cimientos pueden diferenciarse precisamente porque no compiten por el mismo tipo de mandato. Su propuesta de valor complementa, en lugar de desplazar, la del desarrollador o el fondo.\u003C\u002Fp>\n\u003Ch2>¿Qué implica la contracción del gasto público en México para las constructoras de la región?\u003C\u002Fh2>\n\u003Cp>El panorama mexicano introduce una variable de contraste. La Cámara Mexicana de la Industria de la Construcción (CMIC) proyecta una contracción del sector en México para 2025 debido a la reducción del gasto público en infraestructura. Para constructoras como GIA Constructora, cuyo perfil está más vinculado a obra pública de gran escala, esta contracción representa un desafío directo.\u003C\u002Fp>\n\u003Cp>Sin embargo, México ofrece simultáneamente un estímulo significativo para la inversión privada. El Plan México otorga estímulos fiscales que incluyen deducción inmediata del 41% al 91% en activos fijos y un 25% adicional en capacitación, orientados a fomentar nuevas inversiones y atraer nearshoring. \u003Cstrong>La contracción del gasto público no equivale a una contracción del mercado de construcción cuando la inversión privada, impulsada por incentivos fiscales y demanda de nearshoring, puede compensar parcialmente ese vacío.\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp>Este escenario dual confirma que las firmas de construcción y gestión de obra necesitan diversificar sus fuentes de mandato. Las que dependen exclusivamente de licitaciones públicas enfrentan ciclos de austeridad fiscal. Las que logran posicionarse como gestoras técnicas al servicio de capital privado, fondos institucionales o desarrolladores con acceso a incentivos fiscales, encuentran una base de demanda más estable.\u003C\u002Fp>\n\u003Cp>Arquitectoma, como firma mexicana que integra desarrollo y construcción, opera en un mercado donde esta distinción resulta especialmente relevante. Su modelo de desarrollador-constructor le permite capturar valor en ambos lados de la ecuación, aunque con la exposición al riesgo de capital que eso implica.\u003C\u002Fp>\n\u003Ch2>El eslabón que define la nueva competitividad regional\u003C\u002Fh2>\n\u003Cp>La evolución del sector construcción en América Latina revela una tendencia estructural que trasciende los ciclos de mercado individuales. Las firmas que gestionan obra con estándares institucionales, ya sea mediante project management puro, integración vertical o modelos híbridos, están capturando una porción creciente del valor generado en la cadena inmobiliaria.\u003C\u002Fp>\n\u003Cp>GRI Institute ha documentado esta transformación a través de su programa de investigación y sus encuentros de liderazgo en la región, donde desarrolladores, constructoras y fondos de inversión debaten las implicaciones operativas de estos modelos. La discusión en foros recientes del ecosistema GRI confirma que los inversores institucionales prestan cada vez más atención a la capacidad de ejecución como criterio de selección de proyectos, no solo al retorno financiero proyectado.\u003C\u002Fp>\n\u003Cp>El mercado latinoamericano de construcción, con su proyección hacia los 905 mil millones de dólares para 2030, ofrece espacio suficiente para múltiples modelos. La competencia relevante no se dará entre constructoras por precio, sino entre modelos de negocio por eficiencia, transparencia y capacidad de escalar sin comprometer calidad. Las firmas que comprendan esta dinámica, como Crear Cimientos en Colombia, Grupo Campos en el Cono Sur o Arquitectoma en México, definirán los estándares operativos de la próxima década.\u003C\u002Fp>\n","Un nuevo eslabón estratégico emerge en la cadena inmobiliaria latinoamericana: firmas especializadas en gestión de obra que capturan valor separando la ejecución técnica del riesgo de capital. Crear Cimientos (Colombia) opera bajo \"project management puro\", Grupo Campos (Chile) apuesta por integración vertical con 160 millones de dólares en expansión regional, y Arquitectoma (México) consolida un modelo desarrollador-constructor.\n\nCon un mercado proyectado a 905 mil millones de dólares para 2030, la competencia relevante ya no es por precio sino por eficiencia, transparencia y capacidad de escalar. Los inversores institucionales valoran cada vez más la capacidad de ejecución como criterio clave de inversión.","\u003Cul>\n\u003Cli>Firmas de gestión de obra como Crear Cimientos capturan márgenes estratégicos separando ejecución física del riesgo de capital, escalando sin restricciones de liquidez.\u003C\u002Fli>\n\u003Cli>El mercado de construcción en Latinoamérica se proyecta a 905 mil millones de dólares para 2030.\u003C\u002Fli>\n\u003Cli>Grupo Campos invierte 160 millones de dólares en integración vertical expandiéndose a Perú y Colombia.\u003C\u002Fli>\n\u003Cli>La contracción del gasto público en México se compensa parcialmente con incentivos fiscales al nearshoring y la inversión privada.\u003C\u002Fli>\n\u003Cli>Inversores institucionales priorizan cada vez más la capacidad de ejecución como criterio de selección de proyectos.\u003C\u002Fli>\n\u003C\u002Ful>\n","Crear Cimientos: gestión de obra en Latinoamérica","crear cimientos, gia constructora, grupo campos, arquitectoma","Análisis estratégico sobre cómo firmas como Crear Cimientos, Grupo Campos y Arquitectoma redefinen la cadena de valor inmobiliario en Latinoamérica mediante modelos de gestión de obra diferenciados.",{"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],{"id":65,"label":1231,"translations":1500},[1501,1503,1505],{"label":1231,"slug":1242,"language":1502},{"code":13},{"label":1245,"slug":1246,"language":1504},{"code":18},{"label":1249,"slug":1250,"language":1506},{"code":23},{"id":81,"label":1359,"translations":1508},[1509,1511,1513],{"label":1359,"slug":1370,"language":1510},{"code":13},{"label":1373,"slug":1374,"language":1512},{"code":18},{"label":1377,"slug":1378,"language":1514},{"code":23},{"id":93,"label":1253,"translations":1516},[1517,1519,1521],{"label":1253,"slug":1264,"language":1518},{"code":13},{"label":1267,"slug":1268,"language":1520},{"code":18},{"label":1271,"slug":1272,"language":1522},{"code":23},[1524,1526,1528,1531,1533],{"name":82,"enName":82,"ptName":82,"iso2":1525},"AR",{"name":220,"enName":220,"ptName":220,"iso2":1527},"CL",{"name":233,"enName":233,"ptName":1529,"iso2":1530},"Colômbia","CO",{"name":567,"enName":567,"ptName":567,"iso2":1532},"MX",{"name":676,"enName":676,"ptName":676,"iso2":1534},"PE",[1536],{"name":1537,"slug":1538,"image":8,"order":115},"GRI Institute","gri-institute",{"en":1540,"pt-BR":1541,"es":1542},"\u002Freal-estate\u002Fcrear-cimientos-gestion-obra-cadena-valor-inmobiliario-latinoamerica","\u002Fmercado-imobiliario\u002Fcrear-cimientos-gestion-obra-cadena-valor-inmobiliario-latinoamerica","\u002Fmercado-inmobiliario\u002Fcrear-cimientos-gestion-obra-cadena-valor-inmobiliario-latinoamerica",[1544,1545,1546,1547,1548,1549],"Infra Brazil","Infra Latam","Real Estate Brazil","Real Estate Europe","Real Estate India","Real Estate Latam"]