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date was accomplished. Nowadays it is almost 200 meters high and has 55 stories. The tower is the second highest skyscraper in Chile, and it is located between Vitacura, Providencia and Las Condes. Its total surface is 130.000 m2, 72.000 of which are offices. The holding formed by Bethia and ASL Sencorp Integracin Inmobiliaria shared the ownership of the building, which is also presided by the architect and businessman Abraham Senerman Lamas. The construction of Titanium represented a total investment of US$160 million. After the 27-F earthquake, Titanium tower only suffered mild damages in one of its laterals. This event confirmed that Titanium has been built under most strict security standards. An important structural device are the
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Titanium
Costanera Center
Adems, siempre en lnea con los actuales criterios de sustentabilidad energtica, los edificios del proyecto City Park contarn con la Certificacin LEED (Leadership in Energy & Environmental Design).
altos estndares de seguridad con los que fue diseada. Destacan en su construccin los disipadores de energa, estructuras tubulares en forma de X ubicadas cada tres pisos. Estas permiten absorber hasta un 40% de la energa de un sismo, disminuyendo la oscilacin de la estructura.
energy dispensers located every three floors. These devices absorb up to 40% of the energy generated by a quake, diminishing oscillatory movements of the structure.
towers will be 170 (towers 2 and 3) and 109 (tower 4) meters high. In 2012 it is expected that tower 4 will be completed. This new building will add 15.000 m2 of Class A and A+ offices to Providencia area.
An independent pole
In the northern area of Santiago (Huechuraba) there is an outstanding corporate project: the Business City. The area ended 2011 with a total stock of 43 buildings and 207.481 m2 of usable space. If we also consider the building Portal Riesco, which is close to the city but outside its boundaries, the total surface rises to 214.431 m2. There is a new project that is being developed in this area: City Park. This building will contribute to increase the attractive of this area of Santiago.
does not only have higher standards in terms of architecture, construction and finishing, but will also provide better life quality in terms of lightning, sustainability, energy savings and urban and common areas. City Park towers will all have a LEED Certification (Leadership in Energy & Environmental Design).
Prices
Las Condes consolidated as one of Santiagos great office centers, and this fact should translate into plots prices. A remarkable operation was the sale of Av. Presidente Riesco vacant plot, that was 15.000 m2 large and was sold at US$ 21 million. According to Alberto Alauf, CEO of Alauf Properties, the area has progressively increased land value, and each square meter is now
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Un Polo Independiente
En materia inmobiliaria corporativa, el sector denominado Ciudad Empresarial, ubicado al norte de Santiago en la comuna de Huechuraba, se analiza de forma independiente. El 2011 lo cerr con un inventario de 43 edificios y una superficie habilitada de 207.481 m. Si se cuenta el Edificio Portal Riesco, vecino a Ciudad Empresarial, el conteo asciende a 214.431 m y 44 edificios. Uno de los proyectos emblemticos que ya comenz su etapa de construccin en el corredor de Huechuraba es City Park, el que debido a sus caractersticas, contribuye a aumentar el inters de los inversionistas por este sector de Santiago.
Por su parte, en lo que respecta a precios de arriendo de oficinas, el promedio a diciembre de 2011 para oficinas Clase A y A+ alcanz 0,55 UF/m. Dividido por corredor, el valor ms alto fue para Las Condes con 0,587 UF/m, seguido de Providencia con 0,52 UF/m, Vitacura 0,5 UF/m, Santiago Centro 0,42 UF/m y Ciudad Empresarial 0,39 UF/m.
between 60 and 100 UF. A year ago, the areas value was set at 25 UF/m2. The UF (Unidad de Fomento) is a daily adjusted parameter that changes along the Consumer Prices Index. Therefore, the UF is a monetary measure that can be indexed according to inflationary rates. Nowadays, a UF is around US$45 or $22.000 Chilean pesos. Other office districts have also risen their value. Vitacura Avenue, from Providencia to Perez Zujovic traffic circle is one of the citys most expensive corridors. There, the lands square meter is over 100 UF. Vitacura axis has become more expensive because of several mega-projects like Titanium Tower and Costanera Center.
These developments promoted the arrival of new corporate centers. On the other hand, class A and A+ offices reached an average of 0,55 UF/ m2 in lease agreements. The highest value can be found in Las Condes (0,587 UF), followed by Providencia (0,55 UF), Vitacura (0,5 UF), Down Town Santiago (0,42 UF) and Business City (0,39 UF).
com, starting on 2012, the office market will concentrate in Las Condes, Providencia, Vitacura, Lo Barnechea and Huechuraba. Coincidently, Juan Ramos Campos, Commercial Manager at Senexco Realty, adds that Chile is passing through a favorable period for investments, mainly in Santiago. Foreign investors focus on growth and solidity of the national market. Senexco is considering several projects in Providencia, Vitacura and Las Condes. At Huechuraba, where the Business City is located, 8 new buildings will be completed during 2012: Compax Corporate Building, Vitra, Rotter & Krauss II, P&G II, Vanguardia II, Rotter
& Krauss II Building, and last but not least Mistral and Neruda towers. The area will increase by 41. 566 m. 2012 will be a very dynamic year for Chilean national industry. Forecasts back this assumption. 2013 is expected to increase the offer of Class A and A+ space, reaching up to 278.374 m. This figure will triple the number accomplished during 2011 (when 92. 864 m were built). The crisis threat appears to be farway.
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