Israeli Developer Builds Asian-style Resort in Tamarindo

Israeli real estate tycoon Shon Kapeta has begun building his ultra-exclusive, Asian-style resort community on the edge of the fast-growing beach town of Tamarindo, in the northwest province of Guanacaste.

Lots are already available at four-stage real estate development Tamarindo Heights, which will also include 121 finished custom luxury homes, a 51-suite spa hotel, a three tiered Japanese clubhouse with a 17-meter waterfall, a high-end shopping area and a pool and hot tub with an ocean view, according to Melissa Vega, marketing director for the company.

Lots start at $400,000 and run to $2.7 million.

The company is currently in stage two, building the luxury shopping complex GardenBoutiquePlaza, which will include an AutoMercado grocery store, 29 shops and a food court, with underground parking for 160 cars. The mall is expected to open in July 2007.

The company is also working on building an artificial lake and river to irrigate lush landscaping in the development, as well as a wastewater treatment plant.