NOTE: The following article was translated into English by Paul Juan. The original, appears in Spanish, at the bottom of this page.

June 4, 2006
Donald Trump to work with Colombian industrialists on $500 million U.S. project

ADRIANA CAMARGO GANTIVA
ECONOMIC WRITING
El Tiempo

Carlos Alberto Serna, manager of the Colombian company, Urban Spaces, is credited with convincing Donald Trump to invest in a Colombia realty project.

It all began in November, 2005, when the Colombian industrialist had the opportunity to meet the real estate tycoon at a businesses meeting in Panama.

The Colombian was contacted by the Panamanian industrialist, Roger Khafif, who had plans for the conceptualization, design, and commercialization of Colombia real estate projects.

The meeting with Trump was also attended by Carlos and Eduardo Saravia, of Aryan Colombian Company, and Serna Saravia, a partner of Urban Spaces, a developer of several projects such as the Hotel Santa Clara in Cartagena, Colombia.

That first meeting lasted only 20 minutes, in which the industrialists spoke of the plans in Panama and made a pitch to include Colombia as an attractive investment opportunity.

After this meeting, Trump ordered to his daughter Ivanka Trump to take over the Panama project.

In January, 2006, Serna was with Ivanka to finalize details in Panama, and proposed that Ivanka speak with her father about the possibility of trying to interest Donald Trump in the Colombia opportunities. Serna questioned if Colombia was ready to develop projects in the style of Donald Trump, and felt her father was not going it to like the idea.


The day Trump said: "yes"

Donald Trump (who's plan is to tie his name to leading edge, world-class projects), received a message from Serna two days after the Ivanka meeting. Shortly thereafter, Serna, still in Panama, was surprised to receive a call from the tycoon himself, who told Serna: "If you believe Colombia has interesting potential, and that I should invest there, present me with a proposal"!

Serna pointed out that the Caribbean City of Cartagena, a favorite of tourists, would be a natural first or second home destination and investment opportunity for U.S. Baby Boomers; those who were born between 1946 and 1964. The idea is to take advantage Cartagena's established reputation for: history, romance, climate, the Caribbean, nearness to the states, and as a frequent host location for many large international events.

Trump has the rights for the three most important beauty contests in the world: Miss Universe, Miss USA, and Miss USA Teen. Cartagena is the home of the annual Colombia National Beauty Pageant. This too, figured in Trumps plan to pursue opportunities in Cartagena.

In April 25, 2006 the Colombians met with Trump in his New York offices where they publicly announced their plans for projects in Panama and Colombia.

The Cartagena Project will be constructed along the Cartagena/Barranquilla Highway at a projected cost of more than 500 million U.S. dollars.


Investigations done by the industrialists...

Indicate that each year, an average of 71,000 people with annual incomes greater than $100,000, retire in the United States, Asia, Europe, Canada and other countries.

The project will be promoted internationally, which in turn will attract more investment to Cartagena and Colombia. Sergio Mutis Horseman, President of Fedelonjas, says Cartagena is the ideal location. "In Florida, the warm weather is similar to Cartagena, but the hurricane threat is always a problem. Cartagena does not have this risk".

Article published by The Tiempo on June 4, 06.