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Crowdfunded Skyscraper Is Owned By City Residents

Over 3,000 Colombian citizens have invested in what will be the tallest building in Columbia.

Karen Summerson
Karen Summerson on September 21, 2012. @KJSummerson

Most famous building projects, such as the Eiffel Tower, the Empire State Building, and the Burj Khalifa, were financed by its architects or investors worth billions. However, has the common person every financed a great construction? For the first time, a skyscraper has been built by its city’s citizens, creating the biggest product in the world and inspiring a new feat of urban renewal.

Instead of an advertising campaign, thousands of ordinary Colombian citizens have invested their own money to be shareholders in what will be the tallest building in Columbia, the BD Bacatá. Citizens bought small shares called FiDi’s, which entitle them to a portion of ownership and, also, portions of profits.

To educate the public, assuring them that they were not buying intangible stock, but a physical part of the building, Fidi Global pushed the concept of the 99% and its power, as well as educating the public through press conferences with experts, commercials and radio ads.

The project will be realized by 2014, and the campaign has already raised over $145,000,000 through 3,000+ investors. The end investment will cost $240 million. To find out more, visit the BD Bacatá webpage.

BD Bacatá

Images via Image Shack, Flickr

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