Costa Rican real-estate funds slow to take off

©image: jimmedia

Although the market regulator, Sugeval, has authorized 13 projects to far, only one is actually under construction.
Market specialists say that investors are wary of any new concept, but some complain that the system involves too much red tape.

Source: La República

More on this topic

Modifications for Investments Funds in Costa Rica

January 2009

The decrease in the minimum asset level in Real Estate Funds to $5m encourages the undertaking of smaller real estate development projects.

The measure adopted by the Superintendence of the Stock Market hopes to adapt the rules to the current financial and economic crisis to promote investment, especially in the construction sector.

Costa Rica: Interbolsa Seeks Fund Managing Partner

February 2010

Costa Rican financial group Interbolsa is looking for a partner to invest in its main asset, Interbolsa Sociedad Administradora de Fondos de Inversión.

50% of Interbolsa’s portfolio is composed of Real Estate Investment Trusts, considered the group’s key assets.
Interbolsa’s CEO, Danilo Montero, told Elfinancierocr.com that “they have been considering this possibility since last year, but there is nothing concrete yet”.

Costa Rica rings changes on investment funds

June 2008

Changes in the regulations that govern Costa Rican investment funds have received a mixed reaction.

According to the financial markets regulator, Sugeval, the aim of the changes is to clarify various aspects of the existing rules, which date from 2006, on the basis of practical experience.

Two new companies to join Panama Stock Exchange

August 2008

Multibank, a private bank with Panamanian capital, and the Sociedad Inversion Inmobiliaria Balboa, which belongs to the Costa Rica Group Financiero Improsa, plan to join the stock exchange.

Executive vice-president of Multibank, Isaac Btesh, said that the registration and approval of common stocks from the bank are awaiting the OK from the National Stock Commission.