Las Palmas climbs 771 meters over 11.2km. It traverses Medellin's eastern slopes on the way to the airport and Bogota. Palmas is packed with cyclists early in the morning, especially on weekdays.
Friends of mine TT'd in 43 minutes. Last October, I TT'd Palmas in 46 minutes 53 seconds early in a 178km ride to El Penol and back. I only gave Palmas about 80-90% effort on that day and felt fine during the remaining 150+ km.
I was hoping for 45 minutes yesterday, so 46.24 was a little disappointing. However, its early in the season for me and I rested for 4 weeks over December/January. If I was in peak form, riding my Ridley/Mavic, and properly prepared and tapered, I think 42-43 minutes would be a reasonable target. Yesterday was also very hot (29C/84F), and I didn't have anyone setting the pace. Plus, I climbed Letras, La Linea (932 VAM at 95% effort) and Jerico (834 VAM at 80% effort) in the last week.
On the descent back to Medellin, I passed the GW Shimano team climbing Palmas. I think it was the Pro-Conti team. The photo above is a screen shot from my Contour HD Camera.