Gencom to invest $100 million in Costa Rica luxury hotel
Miami-based Gencom Real Estate Services Corporation will invest $100 Million in Peninsula Papagayo, which includes the Four Seasons Resort Costa Rica, part of a 1,400-acre (560 hectare) property on Costa Rica’s Pacific Coast,.
Gencom plans to renovate the resort, develop eight miles (13 kilometers) of nature trails, create a macaw sanctuary, and expand facilities at the 180- slip Marina Papagayo, among other improvements.
The design team includes local firm Zurcher Arquitectos and New York-based Meyer Davis.
Together wirh local developer Sinergo Group, a Gencom affiliate last year acquired Peninsula Papagayo for an undisclosed amount.
Founded in 1987 by Karim Alibhai, who is a principal of the company, Gencom operates in the hospitality and real estate sectors, mainly in North America, with projects which include seven Ritz-Carlton hotels in the United States, and the Tucker’s Point resort in Bermuda.
The privately-held company does evaluations, structures financing, and develops managing plans and exit strategies.
The Papagayo peninsula is half an hour from Daniel Oduber International Airport, in the Province of Guanacaste.