$100 Million Investment to Re-Imagine 1,400-Acre Peninsula Papagayo

by Business Wire | July 11, 2017 10:00 am

Latin America’s Premier Residential and Resort Destination to Undergo Initial Capital Improvements Project as Part of Major Transformation Featuring Renovated Four Seasons Resort Costa Rica, First-Ever Peninsula Amenities, Expansive Network of Nature Trails and Only-Here Explorations

MIAMI–(BUSINESS WIRE)–Gencom[1], a leading Miami-based international luxury hospitality and residential real estate investment and development firm, today announces a more than USD 100 million investment toward a major transformation of Peninsula Papagayo[2], a 1,400-acre premier residential and resort destination in the Guanacaste province in northwestern Costa Rica. Beginning in December 2017 with the debut of the re-imagined Four Seasons Resort Costa Rica[3], this investment will signal the launch of a long-term plan to connect and celebrate the sprawling peninsula from end to end for the first time, bringing an unprecedented new level of meaningful eco-luxury and transformative experiences to the Americas.

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“We are deeply proud and excited that our vision for the evolution of Peninsula Papagayo will give discerning travelers and homeowners compelling new reasons to discover Costa Rica as an enchanting and unparalleled luxury gateway to the Latin America region,” said Karim Alibhai, founder and principal of Miami-based Gencom. “As we invest in carefully shaping and preserving Peninsula Papagayo as an eco-rich paradise for generations to come, we look forward to also defining and bringing great awareness to the meaningful ultra-luxury segment of Costa Rica’s thriving tourism and real estate industries.”

With the completion of this upcoming capital improvements project, homeowners, resort guests and visitors to Costa Rica will experience the natural wonders of the 1,400-acre biodiverse peninsula through a combination of new builds; major enhancements including the multi-million renovation of Four Seasons Resort Costa Rica; first-ever Peninsula Papagayo amenities; transformative only-here explorations; and an ongoing focus on sustainability and wellness including a peninsula-wide network of more than eight miles of nature trails designed to integrate man and nature and help preserve one of the most extraordinary biological corridors on the planet.

“The momentous enhancements underway at Peninsula Papagayo are significant not only to Costa Rica’s flourishing tourism industry that is important to the economy, but to the country’s position as a thought-leader in the preservation and celebration of the native landscape and authentic local culture,” said Manuel Ardon, chief operating officer of Peninsula Papagayo. “As a native Costa Rican, I am very grateful that the vision for Peninsula Papagayo will bring more travelers from around the world to discover the peninsula’s 1,400 acres of incredible biodiversity and eco-rich land.”

This significant investment toward the continued transformation and preservation of Peninsula Papagayo will include:

• A major renovation of Four Seasons Resort Costa Rica, the only Forbes five-star resort in Central and South America; the resort makeover features a locally-inspired yet globally-considered modern design aesthetic from Meyer Davis Studio[6] spanning all 181 guest room, suites and villas; the expansive lobby; five culinary venues plus an all-new Añejo bar and Library lounge; and the signature pool area along with the introduction of new guest experiences rooted in a connection to self and nature
• A new peninsula-wide network of more than eight miles of nature trails that will connect guests with nature while preserving the bio-diverse corridor
• A new Macaw sanctuary designed to cultivate this native species through conservation and educational programming
• An enhancement of Marina Papagayo — a 180-slip luxury marina that is a premier destination for superyachts — with a new restaurant and lounge, gourmet grocery market and an array of new yacht charter offerings
• An enhancement of Peninsula Papagayo Golf Club that features an 18-hole Palmer Signature Course, five tennis courts (four Har-Tru courts and one grass court) and a signature restaurant
• A new Papagayo Explorers Club — a program of only-here experiences across active adventures, culture, wellness, fitness and volunteerism ranging from exhilarating spinner dolphin explorations and mountain biking to cheese making and pottery sessions with local artisans
• A continued investment in the growth of Creciendo Juntos — a nonprofit association founded by Peninsula Papagayo that supports the development of local Guanacaste communities including schools and a children’s clinic through various educational, health and leadership programs; resort guests and homeowners can help make an impact through immersive volunteerism opportunities
• An ongoing focus on sustainability and land preservation — which is the heart of Peninsula Papagayo — through the growth of environmental, maritime, archaeological, social and educational initiatives and an increased investment in the research and development of new programs

Peninsula Papagayo is located 30 minutes from Liberia International Airport, which offers more than 100 weekly flights seasonally from major cities in the U.S., Canada, U.K. and across Central America. It is home to 11 miles of dramatic coastline, eight miles of majestic bluff edges, seven sandy beaches and one of the few tropical dry forests on the planet.

ABOUT GENCOM

Founded in 1987 by Karim Alibhai, Gencom is a U.S.-based investment firm that owns and operates prized real estate around the world, with an emphasis on luxury hotels, resorts and residential properties. Iconic properties include Four Seasons Resort Costa Rica at Peninsula Papagayo, The Ritz-Carlton Key Biscayne, Miami in Fla., The Ritz-Carlton, Bachelor Gulch in Colorado and Rosewood Tucker’s Point in Bermuda. Headquartered in Miami, Gencom is fully integrated, with expertise in virtually every aspect of development, acquisition, financing, asset management and the sale of hospitality properties. Gencom has had success developing, purchasing and exiting single assets and hotel portfolios, as well as in creating, purchasing and growing hospitality platform investments throughout the United States, Caribbean and Europe. For more information about Gencom, please visit http://www.gencomgrp.com[7].

 

 

Contacts

Murphy O’Brien Public Relations
Niki Jensen, 310.453.2539
peninsulapapagayo@murphyobrien.com[8]

 

Source URL: https://www.constructionspecifier.com/100-million-investment-to-re-imagine-1400-acre-peninsula-papagayo/

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