New US$200 million Costa Rica Beach Real Estate Project

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A Romanian firm – Global Financial Group – is investing US$100 million in the first stage of a new beach project located in Brasilito, Guanacaste which is 64 kilometres from the Liberia International airport.

The first stage will include the Hyatt Regency Azulera Resort with 215 rooms, 100 hotel condominiums and a golf course and is expected to be finished by the end of 2008. Constructions is expected to begin in July 2007 and will generate more than 2,000 jobs.

Brasilito is 250 kilometers north west of San Jose and according to the architect Ronald Zurcher of Zurcher Arquitectos, the second stage will cost around $200 million and will include 800 homes as well as a commercial centre with supermarket, stores, professional offices, a health clinic, a gas station, even a police station.

Zurcher Arquitectos has an excellent pedigree having designed the Four Seasons Hotel, the Hotel Marriott in Belen and the Los Suenos Hotel near Jaco and the Hotel Conchal.

Amidst the joy of announcing this substantial new Costa Rica real estate project, the new Costa Rica President Oscar Arias, did caution that since we do not presently have the resources to expand and renovate the airport in Liberia that it would have to be done on a concession basis.

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  1. What happens when it’s announced that a new luxury hotel is going to be built in a specific area where you own real estate?
  2. What normally happens when top notch Costa Rica real estate developers move in and start gentrifying an area? where you own real estate?

Prices Go Higher and You Make Money.

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