According to the Colombian Cablenoticias TV broadcaster, the explosion took place at 1 p.m. (18:00 GMT). Pedro Manosalva, the chief of the Bogota fire department, said that firefighters were at the scene tending to the victims.
The loud explosion tore through two levels of a brick building and also damaged several nearby vehicles and another building.
According to media reports, the Colombian authorities do not suspect the incident was terror-related and are reportedly looking into a possible cause.
Colombian authorities are also reportedly investigating whether the property was being used for the pproduction of gunpowder for use in the popular game of "tejo".
The centuries-old game is played by hurling a metal disc at little packets of gunpowder.
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