Costa Rican real-estate funds slow to take off
Real-estate development funds are a novelty in Costa Rica's financial markets and they have been slow to take off.
Tuesday, May 13, 2008
Although the market regulator, Sugeval, has authorized 13 projects to far, only one is actually under construction.
The decrease in the minimum asset level in Real Estate Funds to $5m encourages the undertaking of smaller real estate development projects.
Costa Rican financial group Interbolsa is looking for a partner to invest in its main asset, Interbolsa Sociedad Administradora de Fondos de Inversión.
Initial expectations for the placement of shares in real estate funds worth $2 million was far surpassed, with a total of $9 million in the first year.
Changes in the regulations that govern Costa Rican investment funds have received a mixed reaction.
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