Zeta Group is a private real estate investment, development and management corporation that operates as an investment fund in Central America and the Caribbean (CAC). It owns a portfolio of over 250 assets —including industrial warehousing, shopping centers, office complexes, residential communities, and farming estates— manages 300,000 m2 of built properties and caters to 300 customer-tenants. The corporation employs 120 people, and “Z Group” is a registered trademark, owned by The Zeta Group Company LLC, a US company.
Zeta Group is a regional leader recognized for its Zeta Industrial Parks and Free Zones. It has developed a total of six parks in the region in which many of the world’s leading manufacturing companies operate. In 2018, about $900 million worth of goods where exported from our parks to the world. In 2015 the Group was conferred the “Main Award to the Exporter Effort” by the Chamber of Exporters of Costa Rica, and more recently was recognized as “Free Zone of the Year 2016” of Central America, by The Financial Times.
Among its commercial properties that stand out, VIVO Plaza is a chain of convenience shopping centers which contain prime international franchises such as McDonald’s, Subway, IMAX Cinema, among others. Another major development is Ciudad del Este in Costa Rica, a mixed-use community to be developed on a 350,000 m2 property, comprising commercial, office space, residential, hotel and health-service facilities.
Why do we operate in the CAC region? In 2017, CAC countries had a cumulative GDP of close to $400 billion and comprised more than 65 million people, making the region the 19th largest economy in the world and the 23rd most populated. Over the past 15 years, the economies in CAC recorded an average annual GDP growth of around 4 percent, higher than the growth rates achieved by the Latin American average and most developed economies. The three outstanding countries of the region —Costa Rica, the Dominican Republic, and Panama— have grown above the regional average over the last 30 years.
What has enabled the CAC region to have achieved faster growth than the rest of the Latin American countries? It is mainly driven by rapid productivity growth (2 percent per year), a strong service sector, high levels of investment and household consumption, and macroeconomic stability thanks to sound monetary and public-finance policies.
Costa Rica is a success story in the region, being the main destination for foreign direct investment in business-support services in Latin America. Also, its fast-growing medical-device-manufacturing sector accounted for more than $4 billion in exports in 2018, strongly driven by the country’s long-standing investment in education and technical skills, distinctive investment-promotion capabilities, and attraction of anchor investors.
Likewise, Panama, besides being the main financial center of the region, has witnessed a boom in the logistics industry that now accounts for 19 percent of the world total in dead-weight tonnage, capitalizing on the Panama Canal to develop a world-class, diversified, and strategic sector for the country.