Three bills are being prepared to encourage construction of marinas and condominiums for tourism, and the promotion of sport fishing.
The initiative to reform the Law on Investments in Condominiums is being prepared by the union of construction, tourism and urbanization, and aims to "open the regime of condominiums up to tourism investment"in order to continue forming the basis of infrastructure necessary for the region to consolidate itself as tourism destination.
Preparations are being made in the country for the opening of two high rise condo projects which combine residential units with hotel facilities and services.
The first 'condo-hotel' project called Ocean, located in Jaco, Puntarenas, is expected to start operations in December and includes an infrastructure of 7,200 square meters. The second project will begin the first phase of construction in the Greater Metropolitan Area in 2016 and will focus on the corporate market.
The tourism developer Gran Pacifica is planning to complete the Gran Pacifica villa with 300 homes, hotels and condominiums, golf courses and parks, according to the master plan for investment.
Laprensa.com.ni reports that "Leveraging the signs of recovery shown in some of the world’s economies, which seem to have withstood the roughest stage of the global crisis, the tourism developer Gran Pacifica is expanding its growth targets toward agribusiness, energy generation and mining, without abandoning its goal of consolidating residential tourism. "
The Trujillo Beach Eco-Development has been announced, with an investment of $50 million in an 600 hectare area which will feature residences for Canadian and Israeli citizens, in the form of condominiums and a hotel.
To date 40% of the total planned cost has been invested, which is $50 million. The "Trujillo Beach Eco-Development" project will be developed in a 600 hectare area in the area of Viejo Marañones, in the vicinity of Lake Guaymoreto.
Grupo Krea plans to have the first phase of the project ready en Playa Monterrico, Santa Rosa by the first quarter of 2012.
The Guatemalan development project consists of hotels, villas and apartments distributed over an area of twenty hectares and will be built over a period of 5 years.
The USA’s emerging economic recovery and the growth in Guatemala's own economy are some of the reasons that have brought Grupo Krea to venture into this tourist development.
Along with construction of a cruise terminal, there are also housing projects.
The residential projects, among them Alta Vista Beach, are being developed by Desarrollos Vision de Vista.
This project, as well as the Banana Coast cruise terminal, which is developed by "Grande Trujillo Autoridad", is sponsored by the Canadian company Fast Track Capital.
Nyesa Valores Corporación has announced the signing of a $330 million agreement with a North American investment fund to finance the construction project.
The complex will be constructed in the Costa Rican Pacific port town of Puntarenas and will feature a world class golf course designed by champion golfer Greg Norman, beach club, sports center and 1,400 residential units including villas, condos and vacant lots.
It is called ‘Paseo de las Casas’, it is located in the province of Coclé and includes luxury residences and a golf course.
Construction of the first phase has already begun, comprising 4 apartment buildings. As for the golf course, it will feature 18 holes, and is expected to cost $18 million.
Juan Ramón Icaza, director of the project, explained that the apartment have been designed to satisfy ‘the most demanding requirements of the Panamanian market’.
$20 million will be invested in developing 350 new residences.
Marta Molina, spokesperson for Royal Decameron Golf Beach, Resort & Villas, explained they will also invest in enlarging the hotel and building a shopping center.
Prensa.com reports: “the mall will boast 30.000 square meters of commercial space”.
Pristine Bay Resort, a touristic complex spanning 180 hectares, is being built in Roatán.
The project will be developed over the next 10 years, and includes a golf course designed by Pete and Perry Dye, two five star hotels and residential units.
Pablo García Salas, sales manager, told Elperiodico.com.gt: "The first phase, currently under construction, consists of 70 lots, 30 villas and 16 condos. It is almost completely sold".
'Playa Secreta' (Secret Beach), a touristic project located in La Union's coastline is in hold, waiting for environmental permits.
The project comprises resorts, bungalows, marina, golf courses and the development of 11 hotels in the next 10 years.
"We are waiting for environmental permits. Once we have them, we will start the project", said
Mario Guerrero Argueta, president of 'Grupo Guerrero' and project leader.
In November, the Honduran Tourism Institute will hand the completed infrastructure of the public-private venture.
With a $15 million investment, Honduras government developed the project's infrastructure, including paving, water supply, sewerage and the sanitation system.
"According to the Honduran Tourism Institute, it would be Hilton, through its Westin brand, the company operating 'Bahía de Tela' (Tela Bay).
Grupo del Sol, GVA & Asociados and the Evergreen Institute are investing in a real estate development that includes condominiums, residences and boutique hotels.
Located 35 kilometers from Panama City, the 755 hectare Isla Saboga is part of the Las Perlas chain of islands.
The development plan includes initiatives for roads, water, treatment, and electricity following the necessary regulations to preserve the natural environment.
The construction of Condo Hotel Ibiza Corona Beach tourism development will have 12 floors and it will begin in late 2009 or January 2010.
The hotel project, to be built in the district of San Carlos, will occupy an area of 1,500 square meters, where a 12-story apartment building will be built and apartments will be sold at an initial value of $84,720.
Zcom Networks announced the acquisition of the Playa Paraíso Real Estate Development Project.
According to the press release issued by the company, the project will have 5 villas on the beach and 20 condominiums.
The total value is estimated at $ 1.5 million for the land and $2.5 million in construction, and it is hoped that it will generate sales of nearly $6 million, for a return on investment of 179%.