Developed by “Grupo Inmobiliario El Parque”, the project consists of two condominium towers, offices and shops.
Construction will begin on July and it will be locate in the capital city, in Paseo Colón.
Spokesperson José Luis Salinas reported that the project will be executed in two phases: the first involves building four shops, 69 offices and 118 apartments, for a total 35.000 square meters.
Market data are usually the basis for decision-making in order to develop, build, buy or sell real estate.
In Central America, there is no unified database to view the regional real estate market as a whole to compare and make decisions on investment. This report collected data from Costa Rica, Belize, Nicaragua and Panama, and it includes national economic indicators to help situate the investment climate in each country.
The real estate business has fallen by 90% since last year, according to representatives of Century 21 real estate.
An article by Reuters reporter John McPhaul described the situation of the construction industry in Tamarindo on the Pacific coast of Costa Rica and reported that most projects are at a standstill.
Among the reasons given is credit restriction, a product of the global crisis and the decline in tourism which, according to figures from the Chamber of Costa Rican Hotels, has dropped one third in the first two months of 2009, compared to the same period in 2008.
The company will administer the $70 million "Jade Condo Hotel Residences & Beach Club" project.
The 190 residence and 50 villa project is being developed by Space Source Inc. which plans to begin construction in the spring of 2009 and to inaugurate it in 2010.
It is located in Manuel Antonio in the pacific coast of Costa Rica.
DayStar Properties, an American company, is planning to build four more condominiums in Jaca, on Central Pacific coast.
These will be in addition to the three that were recently opened in said zone, called the Bahia Azul (Blue Bay), La Paloma Blanca (White Dove) and Bahia Encatada (Enchanted Bay). These complexes stand out for their seaside locations which were obtained when Pat Hundley, founder and president of the group, bought the properties five years ago.
Punta Leona will have a new real estate project, a condo-hotel type that is being developed by the Gordienko Family.
The construction of phase one, made up of 60 units, will begin in October at a cost of $5 million.
Limoncito, the name of the development, will have a total of 348 suites with prices start at $200 thousand and penthouses starting at $1 million.
Costa Rica-based real-estate developer the Zeta Group has completed construction of its US$100 million Jacó Bay Ramada condominium project on Costa Rica's Pacific Coast.
The project consists of 266 condominiums, a hotel and a shopping area. Zeta has already sold 100 of the condominiums and the new owners will be able to begin to move in from next month. Work on Jacó Bay Ramada began in June of last year on a 3.5-hectare site.