Upon completion, BD Bacata Downtown will be a sixty-six story skyscraper and will become Columbia’s tallest building. It has also been dubbed the ‘biggest product in the world’ and the world’s first crowdfunded skyscraper. Developers of the building have handed over power to the people, asking the community to invest in its development.
Developers are seeking to revolutionise consumers power and allow them to become apart of the city’s future. To do so, the building has been divided into thousands of identifiable parts called Figura Internacional de Inversión Inmobiliaria (FiDi). This has allowed three thousand ‘ordinary Colombians’ to acquire physical parts of the structure. This share gives the investor ownership of part of the property as well as a stake. The FiDi’s cost $20, 000 over two years with a down payment of ten percent. Investors will also receive monthly payments reflecting the profitability of the building.
So far the project has raised $145 million of its $240 million goal. The project was established to start an urban renewal movement with high social impacts in downtown Bogota. Upon completion it will house apartments, retail spaces, offices and entertainment venues.
The project handled by Prodigy Network included an integrated marketing campaign of TV, live radio broadcasting, digital media and press to communicate the message to Colombians.