Why Eco-Developers May Choose Belize Over Costa Rica
In the world of ecologically-conscious real estate development, Costa Rica has enjoyed favored status in the Americas for a few decades; however, the challenges of getting some of these projects started are prompting some eco-developers to look at friendlier jurisdictions such as Belize.
As a real estate activity, eco-development is firmly established in Costa Rica, which means that the government has created a number of laws, rules and programs to control this business practice. It is easy to understand the government’s motivation in this regard; after all, the natural beauty of Costa Rica has become one of its greatest assets and drivers of gross domestic product. Nonetheless, some eco-developers see this deep involvement by the government as a bureaucratic and inflexible obstacle they must negotiate in order to carry out their projects.
Unlike Costa Rica, the young Central American nation of Belize, which is a member of the British Commonwealth of Nations, does not challenge eco-developers with as many bureaucratic hazards, thereby allowing them to realize their projects with greater freedom. Let’s take a look at two examples:
Blackadore Caye, a Caribbean island that is part of Belize, has been the recent focus of discussion among real estate developers who are interested in eco-friendly projects. As reported by The Costa Rica Star a couple of months ago:
Actor Leonardo DiCaprio plans to build an eco-friendly resort on an uninhabited island off Belize, a project aimed at combining environmentalism and hospitality. The actor, a long-time environmental activist who serves as a U.N. Messenger of Peace with a special focus on climate change, bought 42-hectare (104-acre) Blackadore Caye a decade ago.
In 2011, The Costa Rica Star reported on the former ties Mr. DiCaprio had established with Costa Rica, where he spent romantic sojourns with Brazilian supermodel Gisele Bundchen; this was before she met NFL star Tom Brady of the New England Patriots. Back then, it was rumored that Mr. DiCaprio would take on an eco-development project in our country; alas, he settled on Belize instead. Still, Mr. DiCaprio has contributed very generously to marine life conservation in our country as his foundation provided $2 million towards the construction of a radar facility to monitor Isla del Coco.