As part of the Palms International Costa Rica Real Estate portfolio, our Development and Resort Real Estate company released the following article regarding the new international airport in Costa Rica and its impact on the real estate and development markets across this ever-growing Central American country. According to our Costa Rica land development experts, the new international airport at Orotina is slated to begin construction earlier than anticipated with positive affects on real estate, tourism and the Costa Rican economy to be felt nationwide.
New International Airport to Ignite Costa Rica Real Estate and Development Boom
Palms International Real Estate Costa Rica, Development & Hotel Properties – Previously slated to begin construction in 2025, the new international airport at Orotina, Alajuela is seven years ahead of schedule, with construction on the new Costa Rica airport to begin in 2018. While the original plan for the new mega airport in Costa Rica was to begin construction upon the conclusion of the contract at Juan Santamaria International Airport, a recent surge in tourism in Costa Rica has given the country a pressing need for a larger facility that can accommodate larger aircraft with more gates.
As a positive indicator for Costa Rica real estate development, this new international airport is anticipated to spark a second real estate boom in the next decade.
Tripling International Access to the Country, Costa Rica Land Development and Real Estate will be the Hottest Commodity in Latin America by 2025
It is widely known that international access is the primary contributor in regards to infrastructure and real estate development and growth, and industry experts in Costa Rica real estate are predicting the new Orotina International Airport to be a major catalyst in the next Costa Rica real estate development and continuing tourism boom.
After the Liberia Airport in Costa Rica’s northern pacific region expanded its airport to accommodate international access in 2002, the Guanacaste province saw the largest boom in infrastructure, land development, real estate and tourism in Central America’s history. The tourism boom is spilling over into the Costa Rica real estate market at an exponential rate and the need for greater international access and improved infrastructure has sparked the early construction of the new international airport in Costa Rica.
Since Costa Rica is already the leader in tourism and real estate in Central America, the new Orotina International Airport is expected to move real estate development in Costa Rica even more to the forefront of international investment markets world-wide.
The new international airport in Costa Rica is to be constructed in the region of Orotina, near the Pacific Coast of the country. The concept is to construct a Central American Mega Worldport that would connect “the heart” of Latin America with the U.S., Canada, Europe and Asia.
The Orotina International Airport will double in size in comparison to Juan Santamaria. It will have two runways and a super terminal to accommodate larger airliners including the Airbus A-380s, A-350s and Boeing’s 747-800s, 777s and the 787s Dreamliners.
Upon completion of the new international airport in Costa Rica, Juan Santamaria International Airport will be used as a regional airport for Central American flights, charters and executive airplanes.
With the potential to triple international access to the country by 2025, the new Orotina International Airport will make Costa Rica land development and real estate the hottest commodity in all of Central and Latin America.