MCM planning center in Columbia
By Furniture Today Staff -- Furniture Today, April 7, 2008
Dallas — Market Center Management, the company behind the Dallas Market Center, Shanghaimart and Brussels International Trade Mart, has announced plans to develop a market center in Bogota, Colombia.
To be known as the Latin-American Trade Mart, the 2.5 million-square-foot complex is scheduled to open in 2011. According to the developers, it will be the largest wholesale mart in South America.
Products offered will include apparel, textiles and handmade consumer goods and home décor products such as furniture and rugs from Colombian manufacturers. It is expected to have space for more than 500 permanent showrooms, 900 temporary booths and a 2,000-vehicle parking lot.
In addition, Hyatt has agreed to build a hotel with about 500 rooms near the site.
"This agreement further expands our worldwide presence and offers our partners unique and expanding options for global trade," said Bill Winsor, president and CEO of Market Center Management. "The timing for entry into the growing South America marketplace could not be better."
Market Center Management will collaborate with the Colombian owners as a management partner supporting the design, construction, leasing and trade event planning and execution of the project.
The ownership team includes Pedro Gomez y Cia S.A., one of the largest commercial developers in South America, and Organización Luis Carlos Sarmiento Angulo, a diversified private holding company.
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