MIAMI, Dec. 7, 2017 /PRNewswire/ -- New ownership led by Gencom, a leading Miami-based international luxury hospitality and residential real estate investment and development firm, today announced that Four Seasons Hotels and Resorts, the world's leading luxury hospitality company, will assume management of a new collection of environmentally designed private villas and estate homes set to commence construction in February 2018. Construction completion is targeted for mid-Q4 2019.
The exclusive enclave of 20 wholly owned properties will be known as Four Seasons Private Residences Prieta Bay at Peninsula Papagayo, situated on 17 acres of prime oceanfront real estate adjacent to the famed Four Seasons Resort Costa Rica. A private path will connect the new neighborhood to Four Seasons, a member-only beach club and two nearby beaches.
A special founders release will be offered for sale in January under a priority reservation program. Prices are expected to start in the mid-$3MMs. Ownership is planning a public release later in 2018.
"Four Seasons is admired worldwide for their service culture and delivering experiences of exceptional quality. The combination of next generation residential design and construction with legendary Four Seasons service and amenities will create an extraordinary lifestyle unlike any other," said Karim Alibhai, founder and principal of Miami-based Gencom. "The amazing experiences that are Four Seasons hallmarks will become part of daily life on Prieta Bay."
"Four Seasons Private Residences Prieta Bay at Peninsula Papagayo will offer the best in sophisticated environmental design and luxurious finishes," says Paul H. White, Senior Vice President and Co-Head of Residential at Four Seasons Hotels and Resorts. "This is a unique opportunity to extend our presence in Costa Rica and offer discerning collectors the finest Four Seasons residential experience in one of the world's most sought after eco-adventure playgrounds."
Innovative organic design by renowned Costa Rican architect Ronald Zürcher takes inspiration from repeating patterns found in flora, fauna and pre-Columbian seals discovered on site.
Each private residence appears to grow out of the landscape, inviting the outdoors in. Gorgeous glass walls and thoughtfully designed windows and pocket doors meld interior and exterior spaces, making the most of spectacular views and providing an unparalleled closeness to nature. Casual furnishings and clean lines lend a modern aesthetic. The result is elegant simplicity with an international sensibility that holds its inhabitants in nature's profound embrace.
High-energy efficiency and high-quality indoor environments are integral to Zürcher's progressive, performance-based design approach—saving energy, water and resources. With 99% of Costa Rica's electricity currently coming from renewable sources, each residence will run on clean energy. Green roofs and local materials are infused into the architecture with a local sensibility.
In addition to Four Seasons service and amenities, each Prieta Bay residence will include membership in the coveted Peninsula Papagayo Club—Costa Rica's exclusive private club featuring exceptional beach, golf, tennis and social facilities and an array of outdoor programs and activities for members and their families.
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.
ABOUT FOUR SEASONS
Founded in 1960, Four Seasons Hotels and Resorts is dedicated to perfecting the travel experience through continual innovation and the highest standards of hospitality. Currently operating 106 hotels and resorts and 38 residential properties in major city centers and resort destinations in 44 countries, and with more than 50 projects under planning or development, Four Seasons consistently ranks among the world's best hotels and most prestigious brands in reader polls, traveler reviews and industry awards. For more information and reservations, visit fourseasons.com. For the latest news, visit press.fourseasons.com and follow @FourSeasonsPR on Twitter.
Murphy O'Brien Public Relations
SOURCE Gencom; Four Seasons