Propuesta translates to "proposal" or "proposition". It's a word that immediately creates a sense of intrigue and suspense.
In the song, Maluma sings "Tres de la mañana, yo te tengo una propuesta" (Three in the morning, I have a proposal for you). This isn't a marriage proposal; coming at 3 AM, it implies a bold and tempting offer to convince a girl she should leave her boyfriend for him. This clever use of a formal-sounding word in a late-night, flirtatious context is what makes it so catchy and memorable.
In "11 PM", Colombian superstar Maluma tracks a late-night rescue mission hour by hour. It starts at "Once de la noche y todavía no contesta" [Eleven at night and she still doesn't answer], drags on through 1:00 AM, and finally shifts at "Dos de la mañana, me dice que está dispuesta" [Two in the morning, she tells me she's ready]. Maluma sees a girl wasting her tears on someone who ignores her and claims he is busy with "cosas más importantes" [more important things]. He bluntly calls that guy "la nube que no deja ver el sol brillante" [the cloud that doesn't let the bright sun shine] and tells her not to let him dim her light.
His solution? Total luxury and attention. He drops the designer name Christian Dior when bragging that "El cuarto huele a Christian Dior" [The room smells of Christian Dior], using expensive cologne to tempt her away from an unappreciative boyfriend. Maluma lays it all on the line with "Eres muy bonita para llorar por él" [You're too pretty to cry over him] and "No merece que seas fiel" [He doesn't deserve you being loyal]. It is bold, flashy, and very direct: he thinks she looks better riding in his car than sitting around waiting for someone who clearly takes her for granted.