Real Estate Portfolio celebrates 25 years of promoting development by transforming Costa Rican cities

Real Estate Portfolio has played a leading role in real estate development in Costa Rica for 25 years, demonstrating that this is an essential sector for training and culture, entrepreneurship, human interconnection, attracting investment and generating employment opportunities. 

The company was founded in 1998 and in 2003 it was consolidated as a real estate development and asset operation organization.

“Today we celebrate our 25th anniversary with the certainty that we have made a difference in the development of our cities. We are a company that has evolved and grown, committed to sustainability and the generation of memorable experiences. We are excited about what the future holds and we thank all the people who have accompanied us on this path,” said Alfredo Volio, Executive Director of Portafolio Inmobiliario.

One of its iconic projects, Escazú Avenue, inaugurated in 2006, is the first mixed-use development in the country, and was considered an award winner at the Architecture Biennial, in the best design category. The construction companies in charge of the complex were Volio & Trejos and Bilco, the design and architecture was in the hands of Studio 506 and Trejos Facio Arquitectos, as well as Zurcher Arquitectos.

Some time later, in November 2012, the inauguration of Lincoln Plaza took place, a project that marked a milestone by constructing 42,000 square meters in a single stage. Later, in 2016, construction began on the mixed-use project Escazú Village.

Subsequently, the Terrazas Lindora project, designed by the Costa Rican firm Zürcher Arquitectos, was awarded the 2017 Prix Versalles Award as the best in the Shopping Centers category, for the region of Central America, South America and the Caribbean. Also in 2017, the construction of the San Antonio Business Park corporate center in Heredia was completed.

Then, in October 2018, the first stone of the Torre Universal project was laid in La Sabana and in August 2020 it began its operations with important brands such as: Microsoft, CINDE, Banco Promerica, Equifax, European Union, Del Monte, U Lead, among others.

Another important milestone, by April 2021, Avenida Escazú obtained the Carbon Neutral certification from the Country Climate Change Program, becoming the first mixed-use project in the country to obtain this distinction.

2021 was an ambitious year for Portafolio Inmobiliario, in June was the opening of the second medical tower on Avenida Médica; and in September Plaza Tempo was acquired.

In June 2022, the transformation of the C3 Cariari Corporate Center was completed, a project that reused 88.5% of the walls, floors and ceilings of the pre-existing structure. Furthermore, in September of that same year, the first stone was laid in the Savia project; and the organic garden on Avenida Escazú produced its first harvest.

In October 2022, the Costa Rica Green Valley project, located in Greece, celebrated the signing of the agreement with eight western municipalities to promote employability in the area. Then in November 2022, we inaugurated Aleste, a mixed-use project, located in Curridabat, with the vision of contributing to the development of a walkable, inclusive, green and safe city, where people can enjoy their public life, come into contact with cultural and recreational activities, actively participating in creating community.

Since the implementation of its 2020-2023 Sustainability Strategy, the developer not only focuses on the construction of buildings, but also considers biodiversity conservation methodologies, sustainable construction, environmental awareness and community inclusion; visualizing sustainability in each project, in harmony with the environment, the community and globality. Thanks to this, in November 2022, Portafolio Inmobiliario received the Sustainable Construction award, Company category, awarded by the Costa Rican Chamber of Construction.

"We are a company that differentiates itself because it not only designs and develops the projects, but is also responsible for its operation and seeks to establish good long-term relationships with its tenants and the community, also considering itself an essential part in the fulfillment of its vision and purpose. In 2019, we designed a sustainability strategy that is a pioneer in the sector and that will continue to guide our way of doing things. With each achievement we also find new ways in which we can improve, on this path the goal is to move forward and inspire others to create their own path,” said Executive Director, Alfredo Volio.

Currently the company has 13 operations: Aleste, Lincoln Plaza, Torre Universal, Terminal 7-10, Avenida Escazú, Escazú Village, El Cedral, Tempo, Terrazas Lindora, Mango Plaza, San Antonio Business Park, C3 Cariari Corporate Center and Costa Rica Green Valley; in addition to two in the construction phase and several in design.

Employment opportunities

At the beginning of operations, the company had 10 collaborators, today there are 714, of which 160 work in central offices and 554 in the operations of the different projects.

Also, according to figures from the company's 2022 Sustainability Report, there are more than 20,000 jobs generated by Portafolio Inmobiliario's commercial and corporate tenants.

The organization is made up of a great team that draws on different knowledge, integrating professionals from various areas such as engineering, finance, sustainability, marketing, administration, among others. Everyone works to create memorable experiences, minimize the environmental footprint and generate shared value, with the purpose of promoting development by transforming cities.