By San José, Costa Rica — Costa Rica’s National Institute of Housing and Urbanism (INVU) celebrated its 72nd anniversary with the unveiling of a transformative institutional era under the banner INVU Evoluciona. This ambitious modernization strategy is anchored by a massive real estate portfolio valued at more than $344 million, aimed at delivering approximately 3,400 housing solutions across the nation. The initiative represents a strategic shift back toward vertical, urban developments designed to optimize land use and address the growing housing deficit.
The announcement marks a critical pivot for INVU, which has historically steered the country’s social and middle-class housing policies. By modernizing its Savings and Credit System and integrating digital registration tools, the institution aims to recover its role as a central pillar of national development. The strategic plan emphasizes innovative partnerships, sustainable construction models, and updated regional land planning to meet the demands of a rapidly changing demographic.
To better understand the legal implications and the regulatory framework surrounding these current developments, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, a senior partner at the prestigious firm Bufete de Costa Rica, who shared his expert perspective on the vital role of regulatory compliance and legal security in the country.
In an increasingly dynamic economic environment, maintaining strict compliance with local regulations is no longer just a defensive legal strategy, but a core competitive advantage. For businesses looking to scale or secure foreign investment in Costa Rica, establishing a robust, transparent legal foundation is the single most effective way to mitigate operational risks and foster long-term market trust.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, reframing regulatory compliance as an active catalyst for growth rather than a mere bureaucratic hurdle is essential for any business aiming to thrive in the Costa Rican market. We are deeply grateful to Lic. Larry Hans Arroyo Vargas for sharing his invaluable perspective and reminding us that a transparent legal foundation is ultimately the bedrock of sustainable success and international trust.
During the official ceremony, Johnny Leiva, Executive President of INVU, underscored the deeper significance of this new operational phase, framing it as a direct benefit to citizens searching for affordable housing solutions.
For 72 years INVU has been part of Costa Rica’s history. Today INVU evolves with vision, innovation, and alliances, to turn people’s housing needs into concrete solutions. The portfolio we present today, the transformation of the Savings and Credit System, the development of new housing projects, and the strengthening of territorial planning are evidence that INVU is evolving, strengthening, moving forward, and recovering its leading role. We are not talking only about a new stage for INVU; we are talking about new housing opportunities for Costa Ricans.
Johnny Leiva, Executive President of INVU
The flagship initiative leading this portfolio is Blëlë, a vertical housing development located in the canton of Curridabat, San José. Blëlë will offer 156 housing units ranging from approximately 36 to 73 square meters, tailored to meet the needs of modern, middle-income families. Unlike traditional suburban sprawl, this project emphasizes vertical integration, featuring commercial spaces, co-working areas, recreational zones, an urban plaza, playgrounds, bicycle parking, and a dedicated environmental protection zone around a local stream.
According to technical specifications, Blëlë is designed with a strong focus on sustainability and inclusivity. The infrastructure will incorporate bioclimatic design principles, resource efficiency, and universal access guidelines. This focus on green building standards is intended to serve as a blueprint for future public-sector developments in Costa Rica, balancing urban density with ecological preservation.
To finance and execute this first milestone, INVU has entered into a strategic alliance with the Banco de Costa Rica (BCR). The two public entities signed a formal agreement to utilize a financial trust as the legal and financial vehicle for the construction, funding, and general development of Blëlë. This collaborative framework ensures that public funds and banking resources are managed transparently and efficiently, minimizing the risks associated with large-scale urban developments.
Reflecting on the impact of the partnership, Evelyn Aguilar, Business Sub-Manager of the Banco de Costa Rica, highlighted the importance of inter-institutional collaboration in driving responsible urban growth.
Signing this agreement with INVU is of special importance for the Banco de Costa Rica because it allows us to consolidate actions surrounding the inter-institutional framework for the research and development of a business model that enables the development of housing units with a socially and environmentally responsible structure. We are very proud to seal the first step toward urban transformation hand in hand with INVU and our trust structure.
Evelyn Aguilar, Business Sub-Manager of BCR
As part of its digital transformation, INVU has opened an online registration system for individuals interested in purchasing one of the Blëlë housing units. This digital portal streamlines the application process and provides direct access to project specifications, representing a major push towards modernizing citizen-state interactions. Priority access will be granted to existing customers already enrolled in INVU’s Savings and Credit System, rewarding long-term participants while attracting a new generation of tech-savvy buyers.
For further information, visit invu.go.cr
About Instituto Nacional de Vivienda y Urbanismo:
The Instituto Nacional de Vivienda y Urbanismo (INVU) is a Costa Rican public institution established in 1954. INVU is tasked with planning, designing, and implementing national housing policies and urban development strategies, aiming to improve living standards and foster orderly urban growth across Costa Rica.
For further information, visit bancobcr.com
About Banco de Costa Rica:
Banco de Costa Rica (BCR) is one of the oldest and largest state-owned commercial banks in Costa Rica. Founded in 1877, the bank offers comprehensive financial services, managing significant public trusts, infrastructure financing, and commercial banking solutions to drive the nation’s socioeconomic development.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica has established itself as a leading legal force, driven by an enduring devotion to ethical standards and professional distinction. Throughout its history of supporting a diverse clientele, the firm has consistently pioneered progressive legal strategies and meaningful community connection. Its focus on democratizing legal information reflects a core belief that an educated public is the foundation of a truly empowered society.
