Company thrives following free-zone projects
During the past 15 years, Génesis Desarrolladores has developed a recipe for success in Costa Rica’s real estate market. When the company started, few people predicted the company would become key to the transformation of the then-empty Santa Ana landscape, southwest of San José. Since 1997, Génesis has excelled in markets as diverse as free zones and luxury residential.
The company has experienced fast-paced growth that built on the success of projects like Forum I, a free zone development on the new Caldera highway, and then Forum II, a free zone project that allows companies to incorporate in Santa Ana, a strategic location equidistant to the Juan Santamaría International Airport and the center of San José.
Génesis Desarrolladores also built Bosques de Lindora, a 170-unit, 30-hectare residential complex in Santa Ana. Following that success, the company launched La Hacienda, a complex of 108 lots in rural Santa Ana’s Río Oro neighborhood. All but eight of those lots are sold.
La Hacienda promotes a rural and peaceful lifestyle in a location with the amenities of a country club.
Like other real estate businesses, Génesis Desarrolladores was not immune to the industry-wide economic crisis. However, according to CEO Rolando Arias, the company was able to move forward because of its business values and talent. Despite the economic downturn, the company maintained an average of 10,000 square meters a year in sales and rentals.
“Our company has strong DNA that sets us apart. During tough times our board had such strong values that all of our debts were paid. We kept a team of the most talented people and set out to succeed with passion and innovation,” Arias said.
Forum I was Costa Rica’s first service-sector free zone and became the company’s selling point. Over 50 national and international service companies rent space in the free zone’s 15 modern office buildings. Forum II already promises to be equally attractive to companies. The 17-building complex hosts multinationals Oracle, Amway and Western Union, among others.
According to Arias, one of the company’s main advantages is its “land bank.” By owning properties in strategic places like Orotina, the Arenal Volcano region, San José, coastal areas and in Santa Ana, the company has the capacity to envision an array of developments.
According to Arias, having access to strategic properties sets Génesis Desarrolladores apart. At its business complexes, the company has attracted companies like Procter & Gamble by offering enough land to accommodate clients’ future expansion plans within the same free zone.
They also offer diversity.
“Although building offices is definitely our strong point, we have shown we know how to sell residences as a lifestyle [choice]. We are now dreaming of creating places that will enable more human interaction,” Arias said.
Génesis Desarrolladores is currently brainstorming for its next project, and the latest ideas point to not an office space or a residential area, but rather a place that would combine both of these elements with stores, restaurants and entertainment facilities.
Although the project details are still secret, the new development likely will be located in the Santa Ana area.
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