Growth Of Guanacaste?

 

Door of the boardroom had barely been able to shut in the hermetically potted building of ours. Our CEO turned to face me and he said, “I think it’s time that we go and take a look around Costa Rica”. His comment was consequential to the second meeting with two unique company’s was recently engaged in developmental projects and were interested to find out whether our company was willing to participate as equity partners in development project in Costa Rica. The year was 1991. Within three months time I found myself in a flight southwards and the day after I arrived at San Jose, I climbed in to a plane that looked small and “oldish”. Mr. Pilot was on time, perfectly late by half an hour. He had dressed himself in cowboy boots, studded shirt with a Bolero, a pair of jeans, a cowboy hat and Ray Bans with gold rims. It made me wonder for a cigarillo or a toothpick, which I thought of gifting him. His attitude complemented his look and he helped himself climb up the right seat to help in navigation. Majority of instruments were working. The engine sprang to life and my adventure began.

 

My primary ambition was to locate and plot all potential beachfront real estate properties, fit for large-scale developmental projects. First, we flew direct off the Quepos coast, then heading northward. After having followed the coastline to the northe of Nicaragua border, we turned back and arrived at Tamarindo, after having flown by once to “shoo” some cows off the runway. Mr. Pilot was, not to mention, in his ultimate glory while “shooing” the cows. We set down safely and in my hands, I had my short property-list.

 

The main force that drew us to select beachfront properties in Guanacaste over others was the reason that the would offer more promising matches in comparison to standard criteria that are employed for choosing possible properties for developing resort communities.

 

A relatively dry season sets Guanacaste apart from other Costa Rican places and sun shines for most hours here. With North American citizens as the targeted market, it was considered that Guanacaste would be most preferable among these people than any other area in Costa Rica.

 

The next criterion is a crucial one and demands immense study and consideration before one actually decides about venturing in to developmental undertakings. Despite the fact that Costa Rica is the second country to have maximum rivers per unit area, drinkable water is still a problem here. Generally, any developmental entity has to perform extensive research in order to ensure that the property has its own potable water resource. Otherwise, it needs to find for other properties that have its resource and preferably it should be in the neighborhood. Unfortunately, you cannot rely too much up on the Costa Rican government or the local municipalities for providing standard water supply as in other developed countries.

 

Access is an equally potent crisis for developers. Access is the word that differentiates Guanacaste from any other area in Costa Rica and that is why the place is popular among most developers. The Daniel Odebur International Airport is the reason behind this. Professional developers realize the importance of an airport and the impact it can have on the success of their development program, sales and property evaluation. The primary attractions like the Conchal Resort & Golf Club, the Four Seasons Resort and the Hacienda Panilla are well connected to the airport and it take about an hour of drive from there to the airport. Other smaller developments and coastal hotels of varying magnitude that are on there way of realization are also situated similarly. Convenience access, local and international, plays a key role in the success of any community resort.

 

One thing about Costa Rica that disappoints tourists is the color of its beaches. There is no real white-sand beach in Costa Rica; rather, they are all beige in tone. Some are more akin to black and some are muted champagne. However, tourists forget spending time thinking about the sand color and get engrossed in the majestic beauty of the deep blue sea and the stunning spectacle of the green coastline. To your utter happiness, there are no multistoried buildings or condominiums to interrupt the view. The government of Costa Rica has laws and codes, generated to disarm high constructions and has endeavored to protect the actual shoreline for the future.

 

Costa Rica is popular among international visitors due to its numerous beach locales, and provides excellent scope for quality surfing, due to favorable wave conditions. These beaches, however, are ideally suited for swimming. Calm waters characterize Guanacaste, unlike any other provincial beach areas in Costa Rica, and that makes it perfect for swimming activities. Some of these beaches are private and small, whereas some are expansive and large.

 

The general topography of the shoreline ranging between the southern Pacific zone of Costa Rica and the northern zone does not change much, where steep volcanic cliff rocks generally separate long and short starches of beach area. Smaller but significant stretches of coastlines are endowed with mangroves that are protected against development. In choosing a particular property for development, developers have to keep two very important things in mind, that is, the cost of the land on which to develop and the cost off construction on that land. If there is not much of flat land, on which a developer may wish to build and if it is not reachable at a reasonable price, the idea of developing will not be very fetching. Among other things, you need to keep in mind the competitive forces and any deal should make financial sense so that it is not just a burden to sell homes, lots, or condominiums at standard prices.

 

The Conchal Beach Resort & Golf Club is one of the earliest large-scale resort developments in Guanacaste. The project offers over 300 suites and hotel rooms, a golf course with Robert Trent Jones Jr. as signatory, and golf-course condos ranging between $238,000 and $465,000. The property has a built on area of 2,000 acres and the master plan foresees five hotel sites, additional 27 golf-holes and manifold luxury residential sites, condominiums, and residential sites, each with a variety of ocean, valley and golf course views.

 

Neighboring to the Conchal project is a development, largest in Guanacaste, the Hacienda Pinilla Resort Community, built over a land area of 4,500 acres. With a water line more than 20 miles, 8-mile long road, a Mike Young golf course, a small hotel, and much more already, Hacienda Panilla has started offering oceanfront condos, exquisite homes, and other sites.

 

The condos are priced between $242,000 and $495,000, homes between $614,000 and $1,450,000, and home sites between $75,000 and $500,000. Future aspirations of Hacienda Panilla includes new hotel sites, tennis facilities, equestrian facilities, more golf courses and further amenities for the residents.

 

The Papagayo Resort Community project is already receiving enormous attention, though there is some time left for it to open. The first phase of the project includes 232 four seasons resort hotels and an Arnold Palmer Signature golf course, which are already under construction. Both of these are due to open in the late 2003 or during spring 2004. Further phases will include another Arnold Palmer signature golf course, seafront homes and condos. The anticipated project estimate is more than $300 millions.

 

Why Guanacaste? Why Now?

 

The reason behind Guanacaste demanding so much attention is due to the above-mentioned factors and because of the simple fact that 75 million people are gong to retire in North America in the coming 17 years. Much is owed to the Daniel Oduber International Airport, which has had major effects in the last couple of years. After being endowed with three consecutive presidential inaugurations, the airport is significantly affecting real estate business in Guanacaste. The airport is also been used by Canadian chartered flights since six years and since two years US charter flight companies, like Go Vacations, Apple Vacations and Vacation Express have started using the airport. The effect was dramatic, which caused a hike in demand of coastal residential properties in Guanacaste. It can be also heard that Delta will pioneer the commercial airline service directly from Atlanta to Liberia, thrice a week. The consequential changes that this will bring to Guanacaste is going to be immense and Guanacaste will be conveniently counted among the hottest vacation destinations of the world.

 

The moment is right. The space is just. Its time that you answer to opportunity… it is knocking at your door. Like a very astute and expert developer had once told me, “Find the path of development and get in its way”.