A real estate development is distinguished by much more than its location, design, and environment. Services and amenities create value, becoming differentiators that also encourage a society’s social and economic development.
Grecia Free Trade Zone is Costa Rica’s first and only industrial free trade zone being developed as part of a mixed-use project, Costa Rica Green Valley, which will consist of industrial, corporate, commercial, and residential components. Conceived as a unique, sustainable, and innovative model, the project envisages an ideal space for attracting leading global corporate service providers and manufacturers.
The 300-hectare development is capable of offering a wide array of services, amenities, and protected green areas for the enjoyment of the established companies’ employees, visitors, and the communities in its area of influence.
In 2020, Portafolio Inmobiliario kicked off the initial stage of the project by initiating the development of the first phase of the Grecia Free Trade Zone, 12 hectares out of a total of 72 aimed at attracting technological and innovation-oriented manufacturing and logistics firms with a holistic approach to sustainability.
The masterplan for Costa Rica Green Valley also includes commercial-use stages that will offer strategic services and amenities for the enjoyment of neighboring communities.
The mixed use of this project gives investors, the workforce, and neighboring communities multiple benefits such as the following:
- Formal, well-paid jobs: Attracted corporate service and manufacturing firms will need to employ thousands of people who will be entering an environment of well-paid, formal jobs that offer them both professional and personal growth opportunities, providing a major boost to the local and regional economy. Costa Rica Green Valley will contribute to job growth during the project’s entire life cycle, from the construction stages of each of its phases to its operation.
- Mobilization of productive linkages: Costa Rica Green Valley will enable mutually beneficial linkages and partnering between companies, increasing, and strengthening their competitiveness and contributing to the economic recovery of the country and its western region.
- Mobility: The project seeks to attract investment where there is talent outside the greater metropolitan area. People will be able to work and enjoy their free time in a single spot in the western region without having to go somewhere else in the country – an aspect that makes Costa Rica Green Valley a mixed-use project where a vibrant, diverse community can be created. For people, this means shorter distances and less travel time, contributing to a better quality of life.
- Access to first-class infrastructure: Being a mixed-use project, its water, sewer, electricity, and telecommunications infrastructure was designed to meet the highest international standards.
- Electricity: With respect to electricity, Costa Rica is known for being highly sustainable, since some 99% of the electricity matrix comes from renewable sources such as hydroelectric, geothermal, wind, solar, and biomass sources. Costa Rica Green Valley has three substations and five distribution lines, ensuring reliable, sustainable energy for the project with 24/7 backup.
- Potable water supply: Different sources are used for Costa Rica Green Valley’s water supply infrastructure, such as the ASADAS (local water administrators), wells, and the Grecia municipal aqueduct, to ensure sufficient, reliable supply for residents and visitors. It also has a well within the project with a concession for 8.33 liters/second and a 300 m3 elevated reserve tank for successful distribution throughout the project. Redundancy is also provided with the municipal aqueduct. Additionally, a water management system will be put in place to reduce the environmental impact and improve quality of life for all.
- Telecommunications and fiber optic infrastructure: In place are two different telecommunications channels that have power backup and meet the highest quality standards. Each platform has two access routes.Infrastructure and services such as access roads, green areas, energy grids, water, and telecommunications, among others, can be shared between the project’s different components, resulting in reduced costs and more efficient use of resources.
The vision shared by Costa Rica Green Valley and its developing partner Portafolio Inmobiliario is to contribute to the western region’s sustainable development through work opportunities and business linkages that prioritize local talent in an inclusive manner, with an urban development that ensures protection of natural resources, thus connecting the project with the different social needs of its neighboring communities.
This gives a seal of guarantee, quality, and confidence to investors, workers, residents, and users who will be enjoying a mixed use that meets the highest possible standards of quality and sustainability.