Costa Rican, U.S. Impresarios Eager to Invest in Tourism Development

A group of American and Costa Rican businesspeople trumpeted their interest in making a megabuck investment in an assortment of tourist projects in Golfito, in southern Costa Rica.

The total cost of the plan that counts on the government’s support will hover around $400 million, Tourism Minister Rodrigo Castro was quoted as saying in local newspaper Al Dia.

Companies interested in pouring funds into Golfito are local Hacienda El Dorado and Miami-based Coastal Systems. Both firms are offering to build a yacht pier, a couple of hotels, a string of stores and several condos in the southern region.

Even though Mr. Castro admitted he doesn’t know for sure who these investors really are –he claims to have only talked to their developers- Mr. Castro indicated authorities will conduct whatever investigations are necessary.

Coastal Systems President Harvey Sasso told the same local daily that his company relies on funds chipped in by corporate people from Atlanta, though he failed to explain who these persons are. “I must talk to them first before revealing any information to the press,” he added.

For his part, Jaime Linsky of Hacienda El Dorado said he’s the owner of the Roca Verde and Ventanas Lodge hotels, both located in Dominical Beach, also in southern Costa Rica.

Mr. Linsky pointed out his group has already ponied up over $3 million to buy vacant lots near the Golfito wharf with a view to build a pier there that could accommodate up to 400 yachts.

The project’s first stage has an initial cost of approximately $20 million. Experts believe, though, some $400 million could be used up at the end of the day.

As we speak, the company is carrying out research studies on environmental impact and working hard to get all construction permits.