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Real Estate development.

REAL ESTATE DEVELOPMENT. Nyesa Valores Corporacion signed a $330 million agreement with a North American investment fund to finance a construction project, reports (Sept. 6, 2010). The complex will be built in the Pacific port town of Puntarenas, featuring a golf course designed by Greg Norman, beach club, sports center and 1,400 residential units including villas, condos and vacant lots. Company sources say the cost is expected to exceed $1.6 billion. The project will be carried out in several phases, the first being general infrastructure development including the first SETAI branded hotel. This phase is predicted to cost $632 million, of which $330 million will be provided by the investment fund with a 10 year repayment term
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Title Annotation:COSTA RICA
Publication:Caribbean Update
Date:Oct 1, 2010
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