• Moments of crisis, the key to building KNOW HOW

    Moments of crisis, the key to building KNOW HOW

    The Business Group, like many companies dedicated to the construction and real estate sector, was affected by the economic crisis that Colombia experienced at the end of the 20th century. Although growth seemed promising in the 1990s, global problems and domestic politics would affect the country’s economic stability. National export products (coffee and oil) suffered price drops, affecting neighboring countries such as Venezuela, Ecuador, Chile, and Argentina. Colombia, for its part, mainly felt the weight of the decline in prices as it depended on continued external financing. The recession of 1999 evidenced the excess of public spending, high deficit, uncertainty, and economic instability that afflicted households and the real estate…