Adding Value to Real Estate Developments

Fabricio Riggioni - MAY 31, 2019
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Live Happy. Invest Wisely: Adding Value to Real Estate Developments.  The way we travel, shop and live has changed drastically in the last 10 years. So why are we seeing commercial and residential projects still being created with the old success formulas? Is it lack of creativity, or are developers just not taking into consideration the whole picture?

There used to be a time when big malls and big department stores, along with “anchor companies” onsite, would do the trick for investors and shareholders. However, with all-time low occupancy rates in shopping malls in the U.S. and Canada, there has been a growth of different types of developments in recent years. It’s our job as professionals in the real estate industry to identify which are the most successful trends and find innovative ways to invest. We seek unique ways to develop and increase value in the regions we work, achieving a balance between protecting the environment and what we create as developers and investors. 

The most beautiful natural scenery
can harmonize with healthy
and creative real estate developments.

 

Human behavior and state of mind are directly affected by our environment, which entails both natural and humanly created spaces. It’s the correct balance between these two that enables us as human beings to develop a better quality of life. The regions of Costa Rica have tremendous potential as places where the most beautiful natural scenery can harmonize with healthy and creative real estate developments. It’s really sad to see great locations for a lot or bigger piece of land destroyed by short-sided developers and investors. That’s why our efforts should always be focused on adding value to real estate developments, while also achieving a solid return on investment.

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The future of commercial and residential development

Technology startups in the last 15 years have shown that someone is always trying to revolutionize how we live. Amazon has changed the way we shop and Airbnb the way we travel. Real estate companies like RealtyMogul have added new possibilities for viewing and investing in commercial properties. The one thing all these companies have in common is a culture that is constantly looking to add value for clients.

As real estate investors analyzing a particular development, we should always ask ourselves these three questions:

How is this development adding value to the overall community and targeted clients?

Is the project conceived with consideration for future tendencies while analyzing the current demand?

What makes this development unique and how we can duplicate it elsewhere?

You may notice that none of these questions are financially driven. It makes no sense to look only at numbers if the project lacks a clear path towards creating value. We must always be looking ahead of the curve, identifying the future picture. Our investment decisions today should take into consideration what our lives will be like 10 years from now.

The residential real estate canvas has changed as well. New homeowners and tenants are looking to connect with others, live close to where they work and fulfill all their needs faster and more efficiently. I believe we will start seeing different and more creative residential developments in Costa Rica over the next decade, driven by the mix of local talent and foreign expertise.

Always remember, LIVE HAPPY. INVEST WISELY! Please contact NATIVU if you want to learn more about “purpose-based investment”.

Read more about adding value to real estate and investing in Costa Rica here.