Costa Rican Malls
Tuesday, November 29, 2016
Of the 255 complex business operating in the greater metropolitan area, 11 are in the regional center format, 42 community, 75 neighborhood, 134 strip, 21 are urban, 7 lifestyle and 5 entertainment.
The figures from Colliers Costa Rica indicate that shopping centers in small formats, called life style and strip centers are those that are beginning to predominate in the metropolitan area. There are currently six projects under construction in the strip format and another 12 which are planned to be developed, according to Colliers.

Francisco Navarro, associate consultant at the company, told that called "strip" shopping malls , "... have a small shopping complex format with at least three stores in a series of continuous premises in front of a parking lot, but they do not have an anchor store. Despite being the category with the most projects underway, it is also the one with the highest availability rate with 9.93% (experts consider saturation has been reached when the availability level is above 10%). "

"...Following, in terms of number of projects under development, are the 13 properties in the category of lifestyle, which is known as mixed-use, and includes a residential apartment sector, an area for offices, a hotel and a commercial sector. In this case, the level of availability is relatively low when compared with strip malls, with 3.13%. "

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More on this topic
Costa Rica: Retail Growing in Malls
May 2015
So far in 2015 12 shopping centers have been opened, in different formats, and by December 36 more projects will have been inaugurated, plus another 30 next year.
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Costa Rica: Boom in Construction of Shopping Centers
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Projections are that this year about 149 thousand square meters of commercial spaces will be built in different parts of the country, mainly west of the Greater Metropolitan Area.
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Commercial Real Estate Market in Costa Rica
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Changes in people's habits, looking to cut commuting time from their place of work to their homes is influencing the investment decisions made by real estate developers who are focusing on building medium sized malls (between 1,000 and 5,000 m), located in the vicinity of residential areas and at high traffic points.
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The commercial property market has shown an increase in supply of 9.8%, totaling 884,135 m². Among the activities that have contributed the most to the dynamism of this market is the opening of fast food restaurant chains and projections are that it will continue to increase.
Key entities
Colliers Costa Rica Francisco Navarro
Costa Rica
Infrastructure & Construction
Real estate development
Colliers Costa Rica
Infrastructure & Construction
commercial sector
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