Skyscrapers is NOT Something Costa Rica is Famous For

Torre 40 San Jose

However a USA-based real estate developer plans on changing that with the upcoming Torre 40.

Slated to begin construction in the 1st quarter of next year (2017), Torre 40 will measure nearly 500′ tall and consist of 41 floors. This will make it 11 floors taller than the current tallest building in the country Torre del Paseo Colon 2.

The real estate developer out of the US is Omnia Desarrolladora Inmobiliaria who plans to budget $35 million for the project and hopes to reach completion within 2 years of the start date in 2017.

La Nacion has quoted company representatives as saying, “We will invest $35 million in the 61,000 square meters of construction. It will provide 30% of the investment and the other 70% will come from financing from Costa Rican banks. The start of construction is scheduled for the first quarter of 2017 and it will take two years to complete, but the premises are already in the presale phase.”

In the past San Jose and the Central Valley as a whole, in absence of any “official regulations” have had skyline restrictions in place. It would appear that the country is loosing up on this subject and becoming more receptive to larger commercial developments. This could help increase interest – which Costa Rica has lost ground in over the past few years – from foreigner investors.