The project is conceived as a unique business opportunity in Costa Rica, at the level of the use of the natural conditions of a tip of land surrounded by sea, called on the official map sheet as Punta Piedra Amarilla. The property consists of approximately 360 hectares, which are titled up to the 50 meters from the line of the high tide. That means there is no concession area on this property which is a great advantage when compared with the regular Terrestrial Maritime Zone policy in Costa Rica. The coast line of this property has a length of 4,5 kilometers. The “Cóbano Preserve” is a mixed real estate condominium development project because of the ideology of the development team, which is to achieve an eco-development real estate, with the scope of preserving the natural conditions of the property as much as possible, using environmentally friendly construction techniques and hiring consulting and development teams that are pro sustainable development.
The project is divided into 6 zones. Zones 1 to 5 encompass the inland developments for retail and residential properties, hotels, entertainment and services.
Zone 6, located at the northern part of the property in Tambor Bay, will be the “Tambor Marina” development. Studies and technical diligences have indicated this is the ideal location for the development of a marina.
As a sample of the above, the various zones have been designed taking into account the natural environment of the property, respecting as much as possible sensitive natural areas and posing appropriate contingency measures in the areas that are impacted.
Another point to mention is that the architectural landscaping of “Cóbano Preserve” was designed with the idea of combining future constructions with the nature of the area and, in addition, it was designed to create lush natural scenarios in each of the developments to enhance reforestation, especially in the natural gardens planned in the areas surrounding the ravines. Everything described above makes this real estate proposal a unique place, which, when developed in a paradisaical area, adventure, excitement and adrenaline will be combined with rest, tranquility and relaxation.
Project Execution Phases
The “Cobano Preserve” project is divided into four phases
The first phase, consists of transforming a virgin land into a land with the necessary alignments and procedures to be sure what type of real estate development can be carried out on this land. In addition, during this phase, some tasks should be done to know the technical and financial pre- easibility of a real estate development proposal based on an initial master plan.
The second Phase consists of carrying out the Technical and Financial Feasibility of the Project in general, based on the pre-feasibility obtained from the first phase. During this Phase, the master plan is fully conceptualized, the area of the total land is subdivided into macro lots and The project obtains a general technical viability of the initial works (which mostly consist of a road that bypasses each of the development zones, and, in addition, works that will provide the property with basic services (Water, Electricity, Internet, WWTP, etc).)
The thirth phase consists of completing the technical and financial feasibility studies of each of the zones, the stamps of the Federated College of engineers and architects and the Municipal construction permit for each of the zones are paid.
During this phase, the payment of the property is contemplated and can be used as a guarantee during the development.
The fourth phase will involve the development of the zones of the Cóbano Preserve and the Tambor Marina. The development of each of the zones is independent, although they share infrastructure for common use and may be developed jointly or separately.
Phase 1 and the beginning of phase 2 have already been funded by the founding partners. The project is seeking a Seed Capital to continue with part A of phase 2 and a venture capital fund to complete Part B of Phase 2 and Phase 3 to end with an Infrastructure Capital for Phase 4.
For a better understanding of the investment needs and the utility of the project, we have divided the business into two (Greenfield and Real Estate Development).
For this financial evaluation, we will first analyze the Greenfield Business, then the Real estate development business for each of the five areas proposed in the master plan, and finally the development of a marina in the ocean, on land reclaimed from the ocean and land concession given by the government.
Investment Objectives
- To create a lifestyle destination that encompasses safety, entertainment and relaxation in a natural environment, including creating sources of employment and promoting ecology.
- To be a mixed real estate development incorporating the enjoyment of aquatic activities in Central America.
- To satisfy the need for recreation, housing and enjoyment by Costa Rican and foreign families in a real estate complex in balance with nature and the environment.