Mántica Group plans to invest $25 million in the construction of a shopping center on the road to Masaya and $21 million in an office building and commercial premises in the area of Villa Fontana, Managua.
Tuesday, November 8, 2016
The first project is scheduled to start in March 2017 and consists of a two-story shopping center, in which the company announced it will be investing $25 million. It will be completed in December of the same year.
Executives at Mántica Group explained to Laprensa.com.ni that "... the third project, consisting of two types of works is Plaza Fontana which includes a shopping plaza ... measuring 6,500 square meters and later the construction of two towers each with six floors for offices in the area of Villa Fontana in Managua. "
Lytton Cano, strategic marketing manager, added that it is expected that $21 million will be invested in this development."
Shopping centers and hotels in the city and on the coast are part of the new projects planned for this year and 2015.
Four commercial and mixed-use projects are predicted to boost the sector in 2015. These are City Mall, City Place in Santa Ana, Ocean Mall in Puntarenas and Jacó Beach Walk in in Jaco beach.
Industrial parks, shopping centers, office complexes and homes are the new developments announced by real estate groups.
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 housing development project will require an investment of $50 million in the first year alone.
The first phase of construction of the mega development, which will incorporate residences, medical clinics, shops and offices, begins shortly.
During this first phase of Paseo Cayalá, complete construction of which will take 15 years and consist of 63 hectares, houses, shops, restaurants, jewelry stores, and barber shops, among other things will be constructed in 7.2 hectares.
The east of the capital of Costa Rica has become an important pillar for real estate development, and will receive $40 million in investment for a Class A office center
From the press release:
San Jose, Costa Rica, July 21, 2011 - 4D Real Estate Development has announced the start of works at TERRA Corporate Campus, a Class A office center located in one of the sectors of the city with the fastest growing economic dynamism.
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