Real Estate Development Funds
in Central America
Monday, December 12, 2011
The crisis of 2008 halted the development of the ambitious project in the Gulf of Papagayo tourist hub, and solutions are being sought to maintain it.
The project is owned by Monte del Barco Real Estate Fund, administered by Aldesa Investment Funds.
There is need to resolve the financial situation of the project in order to continue with its development, so solutions have emerged such as the purchase of lots by the same investors in the Fund, which so far has not been successful, and the transfer of part the land to a group of providers in exchange for building the basic infrastructure so as to enable the project to continue.
Wednesday, December 8, 2010
Despite the international financial crisis, assets have grown by 8% in 2010 and the number of investors increased 10% to 33.432 customer accounts.
Among other options, stock funds won over many investors reappearing as an investment option with over 200 investors. Also open Growth Funds increased 12%, Megafunds with an 11% increase and Money Markets with 12%.
Tuesday, February 9, 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.
Monday, January 25, 2010
In Costa Rica, investment funds grew 16% in 2009, in spite of losing almost 10% of their investors.
During the past financial crisis, the Costa Rican market turned out to be more stable than international markets, making it a relatively safer place for storing capital.
Monday, January 19, 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.
Article 75 of the General Regulation of Administrative Agencies and Investment Funds currently says the following: "Net minimum assets - the property investment funds should have a net minimum assets of $5 million or the equivalent in Costa Rican Colones at the exchange rate used by the Central Bank of Costa Rica. This net assets is applicable for all new funds that are set up.:
Monday, September 29, 2008
The Real Estate Development Funds have recorded an increase in their net assets of 539% from January to first half of September.
The number of investors has increased by 270%. This important increase is due to greater familiarity with the Funds in the market, according to various companies (called Safi in Spanish) that manage the Funds.
Thursday, July 24, 2008
Business centers in Costa Rica are being sought by several funds operating in the country, because they see these real estate investments as good opportunities for a high return on investment.
For example, the Fondo de Inversión Popular Inmobiliario (Fimpo) is putting up 13.5 million dollars to buy the Paseo de Las Flores Business Center in Heredia.
Monday, June 30, 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.
The changes include new rules on the certification of fund managers, the updating of prospectuses, and a broadening of the scope of real-estate funds.
Monday, May 12, 2008
Real-estate development funds are a novelty in Costa Rica's financial markets and they have been slow to take off.
Although the market regulator, Sugeval, has authorized 13 projects to far, only one is actually under construction.
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