Residential Construction: $30 Million in New Investment

Calypso Developments announced that it plans to build a horizontal residential complex in the province of Limón, Costa Rica, which in its first stage will consist of 77 homes.

Friday, November 6, 2020

According to information released by the company developing the project, the new housing complex will be called "Condominio Hacienda Santa Rosa" and will be located in the Southern Caribbean, 15 minutes from downtown Limon, on the road to Cahuita.

Among the common amenities that the new condominium will have is the adaptation of a 5,000 square meter park, which will house a children's play area, multipurpose courts and artificial lakes.

Check out CentralAmericaData's "Feasibility Studies of Real Estate Projects"

Eduard Morgan, managing partner of Hacienda Santa Rosa, explained to that "... the project will have a commercial area made up of a supermarket and convenience stores."

In the pre-sale stage, each house will cost $105,000, a price that will allow for the qualification of the housing bond.

According to CentralAmericaData's reports, during the first semester of 2020, 53 environmental impact studies were presented to develop condominiums, apartment buildings and other housing projects in Costa Rica. It is estimated that close to $1,000 million will be invested in the construction of these housing complexes.

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More Condos and Apartments

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Between 1990 and 2017, the constructed area of residential complexes in the condominium and apartment format in the Grand Metropolitan Area of Costa Rica grew from 5% to 25% of total space.

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More High Rise Housing in Limón

March 2018

As part of the second phase of a residential project in Costa Rica, construction has started on two towers which will each contain 38 apartments.

The first phase of the "Condominios del Parque Caribe" housing project in the province of Limón consisted in the construction of two towers with 24 apartments. Representatives from the company Calypso Development Clayde, promoter of the project, stated that the second stage is in the pre-sale phase, and 60% has already been sold.

Panama: Residential Development for $26 million

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Plans are underway to build a complex of middle income town houses in an 30 hectare area in the district of Chepo, Province of Panama.

In the Environmental Impact Assessment (EIA) for the "RESIDENCIAL QUINTAS DE TANARA" project, presented by Viviendas de Calidad, S.A. to the Ministry of Environment of Panama in August 2015, it is indicated that the plan is to build medium income single family houses.

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