Los Reyes was the first of its kind in Costa Rica. Located in a 324 hectare area in Alajuela, it combines residential solutions in large areas with other services like a club, swimming pool, golf, tennis and football facilities.
The property idea has grown and been followed by more residential projects, each with other integrated developments, the latest of which, Las Manzanas, is currently under construction.
The market seems to have much room to grow. An article in Elfinancierocr.com covers some of the major residential projects of this type currently in development around the country.
" Portafolio Inmobiliario inaugurated the first stage of Avenida Escazú in 2009, a project that when finished will incorporate medical towers which will also feature hotels, shops, offices, cinemas, vertical condominiums and parking."
In 2010 a 15-hectare project located in Escazú and Alajuelita called Rivergrand Estates was announced. With a total investment of $11 million, it will feature residences, a clubhouse and communal areas.
Others recently announced are Hacienda Espinal, 137 hectares and an investment of $20 million and Estancias de Escobal with 57 lots of 5,000 square meters.
Source: elfinancierocr.com
More on this topic
September 2011
The company Urbánica Desarrollos Inmobiliarios plans to develop an residential project, known as Portal Canarias in a 15.7 hectare area in El Espino.
The project, which includes four residential condominiums, will generate about five thousand jobs both direct and indirect, said Alvaro Barraza, Commercial Manager of the project.
March 2009
The real estate project "Avenida Escazú", to be launched in July includes the Residence Inn hotel, an area for movie theaters, shops and offices.
The Residence Inn hotel will open its doors in April with 100 rooms. In July, the first phase of the project, which includes several shops and 13 thousand square meters of office space, will be inaugurated.
January 2011
6 new shopping centers are planned for 2011, including Plaza Lincoln and an expansion to “Avenida Escazú”.
Plaza Lincoln will be built in Moravia, in a 90.000 square meter area, starting in June. Sylvia Casas, marketing head at project developer Pinmsa, told Elfinancierocr.com that its construction should require 18 months.
June 2011
A new urban project, Hacienda Espinal, will be developed on kilometre 17 of the new road to Caldera.
The project, to be developed by the firm Garnier & Garnier, will cover 37 hectares and has an investment for the first phase of $20 million. Included in the construction are residential units, restaurants, a school, a supermarket and offices.
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