Arguing that a complete report on the financial situation of the companies owning the development was not presented, the Costa Rican Tourism Institute decided to cancel the concession of the Monte del Barco project, in the Papagayo Tourist Pole.
Aldesa Fondos de Inversión reported that Inversiones Monte del Barco S.A. and Inversiones GODA S.A., companies owning the tourism development, were notified last July 4th, but the concessionary companies will proceed to file in time and form, the appeal for replacement or revocation before the Board of Directors of the Costa Rican Tourism Institute.
The continuous acquisition of real estate and the diversification in the type of infrastructure invested, are the reasons for the growth of real estate funds, which monopolize nearly 40% of the industry's assets.
According to data from the General Superintendence of Securities (Sugeval), the proportion of real estate funds concentrated in the market has been growing for years, since in November 2013 they represented 29% of the industry and in the same of 2018 it rose to 41%.
Grupo Prival has received authorization to operate an investment fund management company in the local market.
The Superintendency of Securities has authorized Grupo Prival to open a fund company, and it has a term of a year in which to register at least one investment fund.
The market regulator is preparing rules for a new type of short-term investment fund, which will be available before July.
The Superintendency of Securities (Sugeval) in Costa Rica announced that it will add to its portfolio an investment fund focused on very short term securities which are low risk and high liquidity, reported El financierocr.com. This new instrument will be approved in the first half of 2016.
The $90 million invested in property in 2012 represented an increase of 86% compared with purchases made during 2011.
According to the Superintendency of Securities (Sugeval), until the last half of May this year, real estate portfolios had under their administration $871 million in net assets (including properties and some securities), 7% more than in the same period in 2012.
A real estate investment fund owned by Banco de Costa Rica has bought 60% of the facilities of Global Business Park in Heredia.
Elfinancierocr.com reports that "The acquisition will add 21 new tenants to the Fund, including domestic and foreign companies primarily within the medical industry. It will also increase by 50% the assets managed by the real estate investment trust."
The Inter-American Development Bank will provide $153 million to a new capital investment platform for Latin America and the Caribbean, in partnership with the Export-Import Bank of China.
A statement from the Inter-American Development Bank (IDB) reads:
IDB approves $153 million in loans to establish an IDB and China Eximbank capital investment platform
CoreCo Central America Fund is a $54 million private investment fund, which aims to invest in SMEs in Central America that have potential for growth, stimulating the expansion of industry.
Although not limited by sector, investments are primarily aimed at companies in the following sectors: healthcare, financial services, computer / software, consumer goods, retail, logistics business and telecommunications.