Free Zones: New Project in Costa Rica

Portafolio Inmobiliario announced that it will begin the development of the Green Valley Free Trade Zone project, which in its first stage contemplates the construction of a Free Trade Zone located in the municipality of Grecia, province of Alajuela.

Wednesday, June 17, 2020

The total land on which the project will be located amounts to more than one million square meters, however, its construction will be carried out in stages. In the first phase, 140,000 square meters will be developed, whose investment will be around $10 million in infrastructure and its construction period is expected to be approximately one year, reported the Costa Rican Development Initiative Coalition (Cinde).

Check out the "Feasibility studies of real estate projects" that we carried out at CentralAmericaData.

José Antonio Herrero Harrington, President of Costa Rica Green Valley, explained that "... this important project was conceived under a unique, innovative and differentiated model, which contemplates a technological corridor in the areas where Costa Rica has been successful in attracting investment, complemented by a science park that will house universities, technical training centers, laboratory clusters and all the support services for these activities."

Once the first stage is completed it is estimated that approximately 7,000 new jobs will be generated in the various areas of operation, says the official statement.

According to those responsible for the project, since the construction of the Green Valley Free Trade Zone will be carried out in the context of the covid-19 outbreak, the work will have all the measures dictated by the Ministry of Health that are mandatory for all persons entering the site.

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