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Latin America Investment News on Viva Tropical

Limon Costa Rica Attracts Investment, Prompting Government Officials to Call it “New Limon”

Article Summary:

The often forgotten Caribbean city of Limon, Costa Rica is about to become a land mark in construction. On tap is a luxury residential development near Playa Bonita, a new $1 million Moin Container Terminal, and improvement in existing infrastructure, all adding up to what government officials are calling a “New Lemon.”

Photo Credit: El Financiero

Original Article Text From El Financiero via Google Translate :

Playa Bonita in Limon Attract Residential Investment

The new container terminal that the government plans to run in the Atlantic province, coupled with a series of infrastructure projects that promise, for the moment are only on paper, to give a new facade to the city of Limon and will also attract private investment in residential developments.

Such is the case of the Park Condos Caribbean project, which will develop the company Calypso Developments near Playa Bonita. According to its spokesmen, is the first luxury residential initiative that will take this Caribbean city into what it has taken to calling “New Lemon.”

According to project manager Eduard Morgan plans to invest in infrastructure by about ¢ 3,200 million “triggers the need to provide housing options with high quality in the area.” With the above that refers not only to plan the new Container Terminal Moin (TCM), whose investment is estimated at $ 1,000 million, held up by pressure from the union of the port, but also the improvement of sewerage, construction of a dam.

The government has also promised a post office, restore the Cultural History Museum Lemon, build the municipal building and create the Cariari Park. In total is expected to Morgan recalled that the city will receive in the coming months about $ 3,200 billion in investments.

Construction: A Depressed Category
The condominiums will include single-entry security benefits and 24 hours, fine finishes, large common areas and beautiful spaces within the entertainment including soccer, basketball, tennis, swimming pools, clubhouse. The idea of signing that the project developer is able to meet the needs of middle and upper middle class.

The company has begun the pre-construction although first homes – is proposed for completion in the summer of 2013. If the promises of the presidential palace out of your rocky road , and if these condos are achieved materialize, construction indicators for this province could be more positive Atlantic.

According to data provided by the College of Engineers and Architects (CFIA), Limón showed last year and in 2010 the lowest performance in the square meters of construction management. From January to December 2011 were processed 381,039 meters square in this area less than those recorded a year ago: 414 503. This is equivalent (2011) only 5.3% of total square feet under management in the country- Lemon Pococí and center among the counties that showed greater dynamism.

Link to Original Article:

From El Financeriero

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