AOL founder Steve Case's $800 million project in Costa Rica delayed until 2010
The financial problems in the United States are taking a toll on Costa Rica.
Wednesday, October 15, 2008
Construction was scheduled to begin next year on the much-discussed Cacique development, which includes two boutique hotels, a spa, an array of high-end home sites and a tennis facility designed by Andre Agassi and Steffi Graf. But now the project won’t break ground until 2010, at the earliest.
The property crisis in Guanacaste, Costa Rica’s main tourist center, reads like two sides of the same coin.
$1.2 billion in real estate investment have been suspended until project viability can be assured.
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