CRDC Sees Continued Growth Despite Effect of Lehman Brothers’ Bankruptcy on World Markets

Financial markets worldwide are struggling to recoup from losses experienced following the bankruptcy of Lehman Brothers, but CRDC reports that the investment activity related to its luxury residential estates has not faltered.

San Jose, Costa Rica, September 24, 2008 --( The recent Lehman Brothers’ bankruptcy filing has resulted in quite a commotion in the investment world, with the aftermath being realized globally, but the turmoil has not touched the growing Costa Rica real estate market. Investors worldwide have not wavered in their interest towards the popular tourist, retirement and investment location, specifically the Central Pacific region, home to the Costa Rican Development Corporation’s Cerro Fresco (

Lehman Brothers, specializing in financial services for governments, businesses and high-end investors worldwide, announced its bankruptcy amid the growing global sub-prime crisis. Even though the emerging Latin American markets are not directly connected to the Lehman Brothers bankruptcy, these markets initially followed the path of other world markets and experienced a loss of investor interest. Investments in the Costa Rica real estate market, however, continued to gain strength during this financial panic.

During the past decade, Costa Rica, especially the Central Pacific region, has experienced tremendous growth. This tropical country attracts many people in search of a pleasant retirement location. Costa Rica’s tourism trade has grown by leaps and bounds, with more than two million travelers choosing to vacation here in 2007. Visitors can easily reach both coastline and mountain areas during their stay, with the opportunity to view volcanoes, waterfalls, and rainforests, as well as the country’s diverse wildlife.

As a result of Costa Rica’s heightened popularity as a vacation destination and retirement location, foreign high-end investors are seeking lucrative opportunities in the Costa Rica real estate market, and the Costa Rican Development Corporation’s Cerro Fresco development tops the list of locations of interest. Investors eager to get in on the ground floor of a promising real estate market offering see Cerro Fresco as a profitable and wise investment.

The Costa Rica Development Corporation (CRDC) continues with the construction of its newest luxury residential community, Cerro Fresco (, located in the Central Pacific city, Jaco, Costa Rica. With more than sixty percent of the Balinese open-air villas pre-sold, CRDC has not seen any slowing of high-end investors’ interest, even during this shaky period for markets worldwide. Promising a “premium quality of life experience,” Cerro Fresco is quickly becoming a favorite of retirees, vacationers, and investors alike.

About CRDC: The Costa Rican Development Corporation (CRDC), a leader in today’s Costa Rica real estate market, specializes in the design and development of luxury residential communities. With an emphasis on total customer satisfaction, CRDC guarantees quality and excellence in their stylish estate homes. CRDC’s current developments are Cerro Fresco, Hermosa Highlands, Villas Altas, and Highland Estates. For more information about Cerro Fresco, please visit

Cerro Fresco
Bob Garcia
(800) 729-5212