RECENT DEVELOPMENTS  


Costa Rican Island Prison To Become Tourist Destination
The island of San Lucas, 40 minutes away from the Port City of Puntarenas, in the Gulf of Nicoya, is soon to become a popular tourist destination. The San Lucas prison was created by the Costa Rican dictator Tomás Guardia and was Costa Rica’s most feared prison from 1873 to 1991. (more details)

Best Destination
At the International Tourism Fair (FITUR in Spanish), held in Spain, the U.S. Travel Weekly chose Costa Rica as the best destination in Latin America. The variety of attractions and the many chances a visitor has here to enjoy the best of vacations were among the reasons to bestow the award on Costa Rica, whose competitors included Panama, Chile, Peru, Argentina, and Brazil. The Costa Rican Minister of Tourism ,Ricardo Benavides, pointed out that the best feature of the award is that it results from the choice of the magazine’s 140,000 readers, who belong to the U.S. tourist industry. The readers also remarked that Costa Rica is one of the most saleable destinations in Central and South America because of its mild tropical weather, natural and adventure attractions, exotic sites, and the warmth of its inhabitants.

Spanish Company to Build a Billion Dollar Project Near Puerto Caldera
Akasvayu and Islas Pitusas S.A. Will spend $970 million developing La Roca project near Puerto Caldera, Puntarenas on the Pacific Coast. The project will include three five-star hotels, over 1000 homes, a casino and a golf course designed by Australian Greg Norman.

2006 was the Year of a Construction Boom in Costa Rica
by Karen Retana
Foreign investment and better access to credit contributed to Costa Rica’s construction and real estate boom in 2006. Construction permits increased 70% during the year. In 2005 construction permits were issued for nearly 3 million square meters of construction. This year the figure reached 5 million square meters. About one third of the permits were for the Central Valley because of the variety and infrastructure found here.



New Marinas on the Way
More than 21 new marinas are scheduled to be built in the coming years in Costa Rica. There will be a total investment of around $400 million dollars required to build the new marinas. With the construction of thee marinas almost 6000 boats will be able to dock in Costa Rica.

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The Spanish firm Grupo Nyesa says it will invest $600 million in a hotel and resort complex in Esparza.
The location is in the area known as La Roca in the province of Puntarenas east of the city by that name. The company is a principal player in the United States and Europe, frequently linked to Sol Meliá, but this is its first effort in Latin America. The company had purchased 200 hectares for development, about 494 acres.
The company made a courtesy call on President Oscar Arias Sánchez Tuesday. Later Casa Presidencial said that the project would generate 5,000 new jobs. The work would begin in three to four years and be finished in 10, said Casa Presidencial.

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