Costa Rica: $250 Million for Convention Center

The construction of the project that includes a convention center, 2 hotels, offices and a commercial center will begin in 2010, and it will last 4 or 5 years.

Monday, July 6, 2009

In fact, the investment made by the Spanish group “Feria de Valencia” together with the Costa Rican company “Feria de Costa Rica,” was programmed to begin in 2008, but it was postponed due to the global economic crisis. The corporate director of Feria de Valencia, Enrique Calamarde, commented to El Financiero de Costa Rica: “The job was never paralyzed; as a matter of fact a great effort has been put into finding investors. Without a doubt, the project continues to be just as profitable as before.”

The project will occupy a swath of 23 hectares in Cariari, Heredia, where the convention center with an 11,000 square meter exposition pavilion will be the first to be built.

More on this topic

Doubts Cast on Costa Rican Conventions Center

January 2010

The organization who will develop the Conventions Center project is unsure whether to invest in Costa Rica or Panama.

Known as "Feria Costa Rica", the $280-million project comprises an area for fairs and trade shows, two hotels, office space and a shopping mall.

"Difficulties in getting financing for buying the lots and developing the project in Costa Rica have prompted the company to explore options in Panama", reported Nacion.com. "The developers must decide where to invest in February".

Government Resumes Conference Center Project

August 2010

The project, which is 12 years in the making, has become a priority for the Costa Rican Ministry for Tourism.

Tourism Minister, Carlos Ricardo Benavides, indicated than in three months the feasibility study being carried out by the Innovation Group is due to be completed.

Conventions Center in Costa Rica

September 2010

Tourism authorities are making progress in negotiations for land where a convention center would be developed.

Tourism Minister, Carlos Ricardo Benavides, said it is negotiating with the "Programa Integral de Mercadeo Agropecuario" (PIMA), who owns the land located in Barreal de Heredia.

Costa Rica: Future of Conventions Center to be Decided

April 2010

In the next months the Government will decide who will build the government sponsored Conventions Center.

Some months ago Consortium “Feria Costa Rica” expressed its interest in the project, but the proposed financing scheme was not yet authorized in the country.

“The proposal comprised a $280 million securitization trust” reported Elfinancierocr.com.

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