Actual, Acierto Inmobilario and AshmoreAVENIDA announced the formation of an alliance to create a real estate platform in the Andean region. The combination of the real estate development businesses of Actual and Acierto will result in a combined development company (Actualcorp) in the region, with projected consolidated sales of ~USD 400 million and 60 potential projects under development in Santiago, Lima, Medellín and Bogotá, among others cities. AshmoreAVENIDA as an independent investment manager has created a fund exclusively focused on investing in Actualcorp’s projects.

This agreement is based on a business plan that includes the merger of Actual’s and Acierto’s operations in Colombia in the medium term and then the listing of the combined entity, Actualcorp, on the Santiago Stock Exchange, Chile.



The alliance will be formed by establishing two independent vehicles that will complement each other in the development of the platform:

Actualcorp: Parent company of local real estate companies in Chile, Peru, and Colombia that will operate under the Actual and Acierto brands in the residential and multifamily business segments in their respective markets. Actualcorp will be controlled by Actual and based in Chile with subsidiaries in Peru and Colombia.

AshmoreAVENIDA Development Platform: Investment fund based in Ontario, Canada with an initial capital target of USD 100 million (with USD 100 million in co-investments) and its sole purpose being to invest in Actualcorp’s projects through its local investment vehicles, in conjunction with other partners and investment funds. This fund will be managed by a General Partner controlled by AshmoreAVENIDA, and will also have subsidiaries in Chile, Peru, and Colombia.

Both entities will join previously to the public list of Actualcorp in the Santiago de Chile Stock Exchange


Actual founded in 1998 in Santiago, Chile, expanded its operations to Peru and Colombia in 2012. It has primarily developed residential and multifamily projects throughout the Andean region with integrated corporate services. Actual has developed more than 80 projects in the past years aimed at middle-income segments in urban areas. Today it has 35 projects in Santiago, Lima, and Bogotá.

Acierto Inmobilario is the leading Colombian company in the development of residential projects for middle-income segments and specialized in mixed use buildings, with a strong brand and customer loyalty. Its headquarters and main operations are located in Medellín and it also has a major operation in Bogotá and other Colombian cities. Acierto has developed more than 40 projects and built more than 900,000 m2 in its 22 years of successful operations.

AshmoreAVENIDA, headquartered in Bogota, Colombia, is a subsidiary of the British investment manager Ashmore Group plc, a specialist in emerging markets with total assets under management of USD 83.6 billion (as at 30 June 2020). It has a solid financial position and a sound track record of real estate investment in Latin America through different strategies and financial vehicles.


This association will allow us to consolidate our internationalization strategy designed and crafted years ago. The operations of Actual and Acierto create an optimal geographical diversification, since Acierto is a very strong brand in Medellín, both companies have complementary operations in Bogotá, and Actual has a solid and recognized presence in Santiago and Lima. This platform aimed to manage residential projects will be strengthened with AshmoreAVENIDA’s financial support, which will bring to the table its investor network, financial capacity, and business experience to continue growing in the Andean region”. 

Rodrigo Lyon, partner and CEO of Actualcorp

“For Acierto this important association will allow us to continue strengthening our leadership position in the Colombian market and expanding it to the Latin American spectrum by adding the operations of Actual and Acierto, and taking advantage of the synergies that will be generated. AshmoreAVENIDA’s financial support will be key to take positions in strategic locations in different cities of Colombia, Peru, and Chile.”

Juan Carlos Gonzalez, founding partner and President of Acierto.

“We are very pleased with this alliance that goes hand in hand with one of the strategies we envisioned for Latin America with the Ashmore Group – to build out an operating platform in the Andean region to provide direct investment opportunities for our investor base. We look forward to expanding our footprint into Chile and Peru led by Actual’s successful local operations and track record. With Actualcorp we do not rule out starting operations in a fourth country in Latin America in the coming years”.

Michael Teich, CEO and founding partner of AshmoreAVENIDA.


  • Av. Del Valle Sur 570,
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  • Avenida Carrera 7ª No. 156 -68 –
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Actualcorp | Chile - Colombia - Peru

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