Vertical Housing: Project Suspended in Costa Rica

The company HSolís decided to suspend definitively the construction of a residential complex composed of two towers of apartments of 25 levels each, arguing that the country is going through a "complicated economic situation."

Thursday, January 9, 2020

The two residential towers that were part of the development called "Foro 2-25" and that would be located in the canton of Curridabat, province of San José, planned to house 310 apartments.

You may be interested in "Residential Construction: Figures in the Region"

In a statement HSolís explained that after "... an extensive financial analysis, projection of future sales based on the current situation among other factors, we have taken the difficult situation of suspending the project definitively, despite this means a financial blow to our company, however, is the most responsible decision for our customers."

Carlos Carmiol, spokesman for HSolís, told Nacion.com that "... This commercial decision was taken based on the current situation of the real estate market, which has produced a significant decrease in sales, leading to the fact that this investment was not viable."

According to the interactive system "Construction in Central America", of the Commercial Intelligence Area of CentralAmericaData, the EIA of this project was presented to the authorities at the end of 2016. HSolís announced it at the beginning of 2017.

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More on this topic

Vertical Housing: $12 Million Investment Announced

April 2019

A 105 apartments building distributed in 12 levels is planned in the sector of La Villa, in Zone 14 of Guatemala City.

The project will be developed by the Conceptos Urbanos company, and will have amenities such as a lounge room for family or business meetings, a social room, a coworking center, a fitness center and a recreational space for children.

El Salvador: Greater Supply of High Rise Housing

August 2018

The construction of a ten story residential tower, estimated at $16 million, has been announced. The building will house 96 apartments and will be located in Colonia San Benito, in San Salvador.

The construction company Urbánica Desarrollos Inmobiliarios reported that it will start, in December of this year or in January of 2019, construction on a housing complex called "AM Tower", which is expected to be ready in the second half of 2020.

El Salvador: More Apartment Towers

February 2018

Construction has been completed of the first of the three towers that will make up the Florida Sky residential complex, and its developer plans to finish the two remaining buildings by 2019.

Representatives of the construction company Algasa stated that in December 2017 the first tower of the high rise residencial complex was finished, and that they have already started with the construction of the other two towers.

El Salvador: Residential Project for $14 million

May 2015

The developer Urbánica in San Salvador has started construction of 57 apartments in two towers each with 11 floors.

The towers will be built within the Conjunto Condominal Portal Canarias residential project, which with this new stage, will complete a total investment of $60 million, said Alejandro Dueñas, executive director of Urbánica to Elsalvador.com.

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