Luxury Housing: New $17 Million Investment

In Costa Rica, the Saxum business group plans to build an apartment tower categorized as luxury, which will be located in Barrio Dent, in the Montes de Oca canton.

Friday, May 14, 2021

The project, called DEN7, will house 12 luxury apartments that will have a market price of $560 thousand each, will have three bedrooms and a size ranging between 180 m2 and 200 m2.

The residential tower, which will begin construction in January 2022, will have nine floors and its last three floors will be reserved for penthouses.

Learn more about CentralAmericaData's "Commercial Feasibility Studies".

Nacion.com reports that "... the project will also have 31 apartments, starting at $165 thousand each, with one or two bedrooms. The property will be located between Avenida 7 and Dent Boulevard, and the construction process is expected to be completed in the first quarter of 2023."

Ivannia Jaikel, Saxum's Commercial Director, said that "... we are currently in the pre-sale process and we are working on solutions for families and investors. Due to the location of the project, it is estimated that there is an important rental market, so there is interest for both residential and commercial properties."

CentralAmericaData reports state that in 2020 Costa Rica was the country in the region that concentrated the largest estimated investment in terms of residential construction, with approximately $1,043 million in apartment building and horizontal residential projects, corresponding to 59 EIAs.

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On December 27, 2019, construction began on Céntrico, which will be located in Zone 5 of Guatemala City and will consist of four towers, which will house 495 apartments and commercial premises.

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Construction work has started on a residential complex estimated at $60 million, which will be composed of three apartment towers and will be located in Antiguo Cuscatlán.

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