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CRDC Anticipates Doubling Size Following NAFTA with Panama

09-25-2008 10:41 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Costa Rican Development Corporation

/ PR Agency: SEM
CRDC Anticipates Doubling Size Following NAFTA with Panama

The North American Free Trade Agreement between Costa Rica and Panama has made an already good trade relationship even better, paving the way for Costa Rica real estate developer CRDC to attract even more interest in their first class residential communities from Panamanian investors.

The Costa Rican Development Corporation (CRDC) is expecting to double its current work force size as a result of the recent ratification of Costa Rica’s North American Free Trade Agreement (NAFTA) with Panama. The agreement is expected to stimulate the trade exchanges between Costa Rica and Panama as well as increase Panamanian investors’ interest in high-end real estate, such as CRDC’s Cerro Fresco.

The Costa Rica-Panama NAFTA must still pass a second vote by the Costa Rican Congress, and both countries are anxious for the official implementation of the agreement. Existing trade relations between Costa Rica and Panama are already favorable. In 2007, Costa Rica exported goods and services equaling US$327 million to Panama and imported over US$224 million goods and services from this country. Panama’s Minister of Commerce and Industry, Carmen Gisela Vergara, stated that the NAFTA treaty with Costa Rice “represents the strengthening of exchange” between the two countries and there is a push “to move on to the stage of implementation.”

The Costa Rican Development Corporation is positioning itself for the anticipated spike in Panamanian investors’ interest in Costa Rica real estate. The recent NAFTA ratification will serve to enhance already positive trade relations, and this will extend into financial arenas, including investments.
During the past decade, Costa Rica has quickly become one of the most sought after locations for retirement, vacations, and real estate investment. Luxury residential communities, such as CRDC’s Cerro Fresco (www.cerrofresco.com), are selling at a fast pace, and world-wide interest in these listings continues to climb. The Costa Rican Development Corporation sees great potential for generating interest among high-end Panamanian investors searching for a lucrative Costa Rica real estate investment.

Located in Jaco´, Cerro Fresco is a part of the rapidly growing Central Pacific area of Costa Rica. The Central Pacific area is the most popular tourist region of Costa Rica due to its proximity to both the beaches and mountain areas. The abundance of available activities, including surfing, canopy tours, and parasailing, and the local sites, such as rainforests, volcanoes, and tropical gardens, draw millions of travelers to this region, and specifically Jaco´, every year.

About CRDC: The Costa Rican Development Corporation (CRDC), a leader in today’s Costa Rica real estate market, specializes in the design and development of luxury residential communities. With an emphasis on total customer satisfaction, CRDC guarantees quality and excellence in their stylish estate homes. CRDC’s current developments are Cerro Fresco, Hermosa Highlands, Villas Altas, and Highland Estates. For more information about Cerro Fresco, please visit www.cerrofresco.com

About CRDC: The Costa Rican Development Corporation (CRDC), a leader in today’s Costa Rica real estate market, specializes in the design and development of luxury residential communities. With an emphasis on total customer satisfaction, CRDC guarantees quality and excellence in their stylish estate homes. CRDC’s current developments are Cerro Fresco, Hermosa Highlands, Villas Altas, and Highland Estates. For more information about Cerro Fresco, please visit www.cerrofresco.com

Costa Rican Development Corporation
Cerro Fresco Sales Center Atrium Corporate Plaza Escazu, Costa Rica
www.cerrofresco.com
Phone: US (800) 729-5212
CR (506) 2201-5250
info@cerrofresco.com
Contact: Bob Garcia
Office: (506) 2201-5250
(800) 729-5212

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