More Investment in Property in Costa Rica

Industrial parks, shopping centers, office complexes and homes are the new developments announced by real estate groups.

Monday, February 25, 2013

Among the projects for this year include the extension of Avenida Escazú, the opening of Mango Plaza Mall in Alajuela and the inauguration of the fourth office tower El Cedral in Escazú, all scheduled for May. The same company, Portafolio Inmobiliario, is also building two restaurants at the Pez Vela Marina in Quepos and the second phase of Plaza Brasil in Heredia.

Meanwhile GTU Desarrollos announced for this year, the completion of the first phase of the mixed-use project (mall, residential and office towers) in District 4 in Guachipelín.

Among the plans of Garnier & Garnier, is the construction of an industrial park in an area of ​​70 hectares in La Lima, Cartago.

Caesar Brenes's article in Elfinancierocr.com adds the following,

"According to data from Colliers International, the country now has an inventory of over 1 million square meters of offices, 1.7 million m² in industrial space and 819,000 m² in commercial space.

In addition, at the moment, 100,000 m² are being built in the first category, 27,000 of which are industrial premises and 31,000 are shops.

In 2012, it was the latter sector which registered the highest with growth (12.4%), followed by offices (11.3%) and industry (5.2%). "



More on this topic

Costa Rica: Growing Supply of Office Centers

August 2017

To the west of the capital, construction has started on an office building which will have 36 thousand square meters of construction and 700 parking spaces, with an estimated investment of $25 million.

'Oficentro 310' will be located in Pozos de Santa Ana, and its construction will be completed by mid-2018, according to the developer, HVC Inmobiliaria. The office center is built on a plot of 10 thousand square meters and will have 36 thousand square meters of construction, of which 14 thousand will be allocated to a leasable area. 

"Life, Work, Shopping and Entertainment"

August 2013

All in one place. In the west of the capital of Costa Rica "mini-cities" are being built which meet the needs of this new lifestyle trend.

In the west of San José, four real estate projects are attempting to impose a new lifestyle. The first is "Avenida Escazú, whose initial phase was started in 2009 (medical towers, cinema, hotel, parking and residences) and which then added more cinemas, restaurants and shops," noted an article in Elfinancierocr.com.

Large Residential Communities on the Rise in Costa Rica

August 2011

Inspired by the growth of Los Reyes, multiple residential developments are being built in vast areas.

Los Reyes was the first of its kind in Costa Rica. Located in a 324 hectare area in Alajuela, it combines residential solutions in large areas with other services like a club, swimming pool, golf, tennis and football facilities.

New Shopping Malls in Costa Rica

January 2011

6 new shopping centers are planned for 2011, including Plaza Lincoln and an expansion to “Avenida Escazú”.

Plaza Lincoln will be built in Moravia, in a 90.000 square meter area, starting in June. Sylvia Casas, marketing head at project developer Pinmsa, told Elfinancierocr.com that its construction should require 18 months.

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