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Latin America Investment News on Viva Tropical

Billion Dollar Mega-Project Gets Green Light for La Cruz and Guanacaste, Costa Rica

Article Summary:

An ambitious project ran by Santa Elena Preserve of Costa Rica is poised to invest $1 billion in a master plan to develop the La Cruz and Guanacaste region into a mega tourist hub.

Photo Credit: El Financierocr

Original Article Text From El Financierocr via Google Translate :

Million Dollar Project reaches La Cruz

A hotel of 423 rooms will be built in the canton of La Cruz and Guanacaste is the first investment to be made in this part of the country the Nicaraguan businessman Carlos Pellas Chamorro, along with Costa Rican and Panamanian partners.

The hotel is located in Playa El Jobo-Punta Descartes, an unspoilt area with poor social development, tourism and commercial and with few job options.

The initiative is run by Pellas Development Group, created in 2005 as a specialized unit for investment in tourism development and real estate.

The hotel will be the first in a series of investments made in the area. Details of the company realize that in these seven years has invested more than $200 million for the purchase and development of land in Central America, purchased together with local entrepreneurs.

In the case of the project in Costa Rica was formed a group called Santa Elena Preserve. It consists of Carlos Pellas, the Ticos Francis Durman, President of Monte Cristo Group and Ernesto Castegnaro, president of the board of BAC-Credomatic, the Motta Group’s strategic partner and, AM Resorts of America, which will be the hotel operator. In the past also participated André Garnier, but EF knew that selling its shares.

15 year Agenda
Santa Elena Preserve acquired 1,500 hectares in which several projects that will kick off this year and will continue for the next 15 years. Carlos Hernandez, general manager of Santa Elena Preserve, said that the master plan includes investments that could exceed $ 1,000 million, which would include urban tourism infrastructure and regional level.

Apparently, they will use other beaches near El Jobo, including Rajada and Rajadita. So far, managed to leave the hotel Dreams Tides, whose investment is estimated at $ 125 million.

AM Resorts manages several hotel brands. According to the site web of the firm in its portfolio is the Dreams, Zoetry, Secrets, Now and Sunscape. The first resources for this huge investment is managed four years ago. On that date, the group signed a loan with Banco de Costa Rica (BCR) for $ 7.8 million will be the basis for moving forward with the project.

The plan is to achieve the first international certification under the LEED green standards (Leadership in Energy & Environmental Design) for a five star hotel.

Working with community
“The vision of entrepreneurs is to convert the Santa Elena project in a model of modern development initiative and sustainable, based on principles of growth ‘intelligent’, so as to achieve a harmony between economic development and welfare of the area people “, stated Hernandez.

The company, he added, wants to achieve sustainable economic inclusive, not exclusive, and achieve the social chain. Hernandez said the project has spent the last four years about ¢ 50 million in social programs (schools, environment and fishermen). In addition, donated $ 3.8 million aqueduct will be ready in April.

As explained by Deputy Mayor of La Cruz, Luis Alonso Alan, this kind of development could be the trigger for other investments that could improve the quality of life of the population and bring basic services like water. In fact, communities of Puerto Soley, Jobo, and Bello Horizonte Tempatal suffer from lack of drinking water, especially in summer time, a problem solved with Water and Sewer trucks.

Alan said the liquid coming from the water supply of Santa Cruz has a wealth of important and which will be used only a small portion. The developer also donated designs for the road to the Ministry of Public Works and Transportation (MOPT). Currently, access is gravel and is in poor condition.

“We have had several meetings with them and communication has been good. We want to be facilitators of this process and ensure that buildings are made under the principles of environmental sustainability and community benefit, “said Alan. The municipality claims that the aquifer where it feeds Cross and soon, El Jobo and other communities, has a capacity of 1,600 liters per second in both the Cross requires 28 liters per second and El Jobo, 6.

“A 20-year period with the development that could exist by then the water needs to reach 80 liters per second,” admitted Deputy Mayor.As master plans, the official said that the lands acquired by the group are ordered.

Hotels and more
Plan: Santa Elena Preserve includes a development plan called Santa Elena Costa including:

Tourism: In the tourist lodge or a luxury boutique low density campus and retiree medical tourism, regional hospitals, recreational areas. Also a tourist dock with ferry service between San Juan del Sur in Nicaragua and other destinations in Costa Rica.

Housing: Aimed at middle-class and professional park and basic services, housing, tourism.

Trade: Also planned regional shopping center in La Cruz, shopping areas with plazas of artisans and a community center for development of small business development and partnerships El Jobo.

Link to Original Article:

From El Financierocr

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