Friday 9 December 2022

More Than 60 Commercial Centres In 4km Of Escazú

Paying the bills

Latest

Peru’s President impeached and arrested!

Q24N - Peru's president, Pedro Castillo, was ousted by...

“Avenidazo” returns to San José

RICO's DIGEST - The Municipality of San José had...

Completion of San Ramon extensions and Ruta 27 will be for the next government

QCOSTARICA - The conclusion of the expansion works in...

Bukele’s surprise and private visit to Costa Rica

QCOSTARICA - El Salvador president Nayib Bukele made a...

Regular gas drop approved, while super and diesle go up

QCOSTARICA - The regulating authority of public services, the...

Kölbi has the fastest mobile network in Costa Rica

QCOSTARICA - Kölbi, the brand of the state-owned utility,...

Refund on Marchamo for early payers announced

QCOSTARICA - Paid your Marchamo in November? If you...

Dollar Exchange

¢589.01 Buy

¢595.62 Sell

9 December 2022 - At The Banks - BCCR

Paying the bills

Share

Not a good area to build a house, but great for a condo or a commerce according to municipal officials

ave2v

Escazú is known for hoarding malls and condominiums, more than any other city in the Gran Area Metropolitana (GAM) of San José. Specifically, in two areas where the commercial boom has been extreme.

The two areas add up to 4 kilometres of commercial strip that is home to some 60+ commercial centres.

- Advertisement -

The first, the “Milla de Oro” (Golden Mile) that runs from Walmart to the ICE on the old road to Santa Ana. Locals christened the area as such for its attraction of investment in infrastructure that translated into commercial premises, bringing the gold to Escazú.

In the Golden Mile a square metre costs between ¢550.000 and ¢1.000.000 colones (US$1.100 to US$2.000). The popularity of the area is owed to the first foreigners who came to Escazú.

With the arrival retailers and real estate developers realized that the area was heavily transited for it was one of the major routes to Santa Ana. And, coming from San José or Alajuelita headed to Escazú centre, it is one of the first areas you will coming into.

The development of the area was also a boom to local residents who were able to obtain employment in the area. For commerce, an adequate work force was at hand and not have to rely workers having to come from outlying areas.

The other stretch of gold in Escazus is the two kilometres from Multiplaza to Plaza Avenida (next to the CIMA hospital.

full-multiplaza-escazu420A square metre on this strip will range from ¢900.000 to ¢1.250.000 colones and more, depending on location, like facing the autopista or proximity to the hospital, Pricesmart or Multiplaza. Also the side of the autopista, north or south, will affect the value.

- Advertisement -

For example, figures provided by the Municipalidad de Escazú reveals that renting 100 square metres (1.100 square feet) of commercial space will cost about ¢15 million colones, which translates that the business must be highly profitable to afford those rents.

This type of development has never before been seen in Costa Rica. There are a large number of commercial developments throughout the GAM, however, none are as concentrated as the 4 kilometres of Escazú.

For residents of the area the boom is a mix blessing. The closeness of shopping, offices and medical centres, in addition to local employment is seen positive. However, all the activity has brought with tremendous traffic chaos, especially in the peak hours.

- Advertisement -
Paying the bills
Avatar photo
Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Cuba Plane Crash: Company ‘Had Safety Complaints’

Solidarity and investigations after the accident. Cuban authorities are investigating the...

The Volcanos Of Central America (By Country)

Among the things most loved by travelers to Central America is...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.