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El Edén Plaza, located at Avenida Boyacá with Calle 12 in southwestern Bogotá, serves the Kennedy locality with a population exceeding 987,000 residents, primarily low to middle-income working families. The property spans approximately 162,000 square meters of gross leasable area and features a family-oriented tenant mix emphasizing essential retail such as Alkosto as an anchor department store, pharmacies, and supermarkets, alongside dining options and emerging fashion outlets.
Entertainment attractions include a ropes course, aerial activities, sports facilities, and a new cinema complex opening in November 2024 with nine halls seating 1,240, equipped with Dolby Atmos and VIP services.
Market position in Bogotá's competitive landscape of over 50 centers totaling more than 2 million square meters GLA places El Edén as a community-focused destination in a growing residential area, with LEED Platinum certification highlighting sustainable operations like 51% water savings. Current occupancy stands at 74%, targeting 85% by year-end through expansions, amid citywide averages of 85-95%.
Footfall reached 620,000 monthly visitors in 2023, projected to rise to 750,000 in 2024 and 1 million in 2025, driven by events and family programming.
Leasing advantages include competitive rents in the range of $15-25 per square meter monthly for secondary spaces, favorable for value-oriented retailers, with strong accessibility via major arterials connecting to northern and southern Bogotá, though traffic congestion poses risks. Drawbacks encompass economic pressures from inflation affecting discretionary spending in fashion and full-service dining categories, which have underperformed, and saturation in essential goods segments.
Overall, the center supports steady traffic from local demographics but faces challenges from nearby competitors like Multiplaza and broader market recovery post-pandemic.
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Hours of Operation
Hours
| Monday | 08:00 AM — 11:00 PM |
| Tuesday | 08:00 AM — 11:00 PM |
| Wednesday | 08:00 AM — 11:00 PM |
| Thursday | 08:00 AM — 11:00 PM |
| Friday | 08:00 AM — 11:00 PM |
| Saturday | 08:00 AM — 11:00 PM |
| Sunday | 08:00 AM — 11:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
Kennedy locality features a dense population of nearly 988,000, with predominantly low to middle-income households averaging below the citywide $1,200 monthly income, focusing on essential and family-oriented purchases. This supports consistent footfall of 620,000 monthly visitors in 2023, with projections to 750,000 in 2024 amid economic stabilization, benefiting necessity-driven retailers but limiting luxury or high-margin categories due to spending constraints and high unemployment rates around 12% in the area.
Accessibility and Infrastructure
Prime location on Avenida Boyacá and Calle 13 provides direct links to northern Bogotá, adjacent municipalities like Madrid and Funza, and TransMilenio trunk lines, enhancing draw from a 2 million-plus catchment. Modern LEED Platinum infrastructure ensures energy efficiency and pet-friendly amenities, but aging urban roads contribute to congestion, potentially reducing impulse visits during peak hours and increasing delivery reliance for e-commerce integrated tenants.
Competition and Lease Terms
Intense rivalry from over 50 Bogotá malls, including nearby Multiplaza and high-traffic Plaza Imperial, pressures tenant acquisition in saturated apparel and dining, with El Edén's 74% occupancy reflecting slower recovery in non-essentials. Lease terms offer flexibility with base rents of $15-25 per square meter monthly plus 8-12% overage on sales, advantageous for anchors like Alkosto, but risks include market saturation and inflation-driven escalations up to 5% annually, advising due diligence on co-tenancy clauses amid projected citywide rent growth of 3-5% in 2025.
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Bogotá
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Bogotá
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