How has the commercial and residential development of Laureles been?

How has the commercial sector recovered?

Due to the pandemic, several merchants were forced to close their businesses in their rented premises in Laureles. However, in recent months, the area has welcomed new business models that have boosted certain sectors thanks to the different economic activities found there. Nutibara Avenue and Jardín Avenue have even become a “zona rosa” (entertainment district) where people can enjoy the area's commercial and gastronomic diversity. In addition, in recent years, major shopping centers have been built in the area, such as the Unicentro Shopping Center and the Viva Laureles Shopping Center, which have attracted large chain stores and international brands.

In fact, according to data from the Medellín Secretariat of Economic Development, by the end of 2020, Medellín had a business base of 97,534 companies. Of that total, 7,694 were located in Belén and 9,423 in Laureles.

In 2022, the numbers showed a clear improvement thanks to economic recovery strategies and the resilience of the city's entrepreneurs and business owners. Medellín ended the year with 101,698 companies, of which 10,670 are located in Laureles, representing a growth of 1,247 new business ideas. As such, and as indicated by the Medellín Secretariat of Economic Development, “there are more business ventures in Belén and Laureles. The most dynamic sectors are accommodation, gastronomy, and vehicle repair.” This sector has also become a new opportunity for entrepreneurs who want to launch their business idea in a rented space in Laureles.