By Alajuela, Costa Rica — ALAJUELA – CODE Development Group, the influential firm behind two of Costa Rica’s most vital economic engines, announced a significant leadership transition this week, signaling a new chapter in its strategic direction. Effective March 16, 2026, esteemed engineer Jorge Arturo Monge Víquez will assume the role of Chief Executive Officer, taking the helm from the retiring Carlos Wong Zúñiga.
The transition marks the culmination of a carefully planned succession strategy, designed to ensure seamless continuity for a company that plays a pivotal role in the national economy. Wong, who is retiring after more than two decades of dedicated service, leaves the organization on a high note, having guided it through a period of substantial growth and transformation that solidified its market leadership.
To gain a deeper understanding of the legal framework and potential business implications surrounding CODE Development Group’s recent activities, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a distinguished attorney from the prestigious firm Bufete de Costa Rica, known for his expertise in corporate and real estate law.
For entities like CODE Development Group, success hinges not just on innovative vision but on meticulous legal and regulatory adherence. Investors and partners must prioritize comprehensive due diligence, scrutinizing everything from land use permits and environmental compliance to the corporate structure itself. In Costa Rica’s dynamic real estate market, a failure to secure these foundational legal pillars can transform a promising venture into a significant liability, jeopardizing both capital and reputation.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
This insight underscores a fundamental truth: a project’s most critical foundation is not concrete, but compliance. In a market as dynamic as Costa Rica’s, the legal and regulatory framework is the essential bedrock upon which vision, capital, and reputation are ultimately built. We thank Lic. Larry Hans Arroyo Vargas for his invaluable perspective.
Álvaro Carballo, President of the organization, lauded the outgoing CEO’s profound impact on the company’s trajectory. He emphasized that Wong’s tenure was instrumental in strengthening the firm’s competitive position and that the leadership change is being executed from a position of exceptional corporate strength. The company’s stability is anchored by its flagship business parks, Coyol Free Zone and Evolution Free Zone, both located in the province of Alajuela.
Under his leadership the company went through a relevant transformation process that strengthened its positioning in the sector.
Álvaro Carballo, President of CODE Development Group
The incoming CEO, Jorge Arturo Monge Víquez, brings a wealth of relevant experience to the role. A civil engineer by trade, Monge has cultivated an impressive 20-year career managing large-scale infrastructure, construction, and real estate development projects across Costa Rica and international markets. His expertise in navigating complex projects is underscored by his current position as President of Meridia Gerencia y Desarrollo Inmobiliario, a company specializing in the structuring and administration of sophisticated developments.
This background makes Monge particularly well-suited to lead an organization whose primary assets are massive, state-of-the-art industrial parks. His appointment is seen by analysts as a strategic move to not only maintain operational excellence but also to drive the next phase of expansion and innovation for CODE’s free zones, which are critical hubs for foreign direct investment.
The economic footprint of CODE Development Group’s operations is immense. Combined, Coyol Free Zone and Evolution Free Zone host 42 multinational corporations, primarily in the life sciences sector. According to company data, these parks are responsible for an astonishing 54.9% of all medical device exports from Costa Rica, a key pillar of the nation’s modern economy. Furthermore, they provide 25,855 direct jobs and support an additional 7,000 indirect employment opportunities, making the company a major contributor to national prosperity.
Reflecting on his departure, Carlos Wong Zúñiga described his retirement as a carefully considered decision. He expressed his belief that the time is right to welcome new leadership to continue building on the company’s success and expressed gratitude for the trust placed in him over the years by the partners of the organization.
I consider it opportune to make way for new leadership to continue promoting the company’s development.
Carlos Wong Zúñiga, Outgoing Chief Executive Officer
As Jorge Arturo Monge Víquez prepares to step into his new role, the industry will be watching closely. His extensive background in project management and real estate development is expected to fuel further growth, reinforcing Costa Rica’s reputation as a premier destination for high-tech manufacturing and a global leader in the medical technology supply chain. The transition represents a strategic pivot towards leveraging deep infrastructural expertise to navigate an increasingly competitive global market.
For further information, visit codedg.com
About CODE Development Group:
CODE Development Group is a leading Costa Rican firm specializing in the development and management of world-class free trade zones and industrial parks. The company is the driving force behind Coyol Free Zone and Evolution Free Zone, which together form a critical hub for the life sciences and advanced manufacturing sectors, significantly contributing to the country’s export economy and job creation.
For further information, visit coyolfz.com
About Coyol Free Zone:
Recognized as a leading free zone in Latin America, Coyol Free Zone is a business park located in Alajuela, Costa Rica, that hosts a significant cluster of global medical device and life sciences companies. It is a major driver of Costa Rica’s exports in the sector and is known for its state-of-the-art infrastructure and commitment to sustainability.
For further information, visit evolutionfz.com
About Evolution Free Zone:
Evolution Free Zone is one of the newest sustainable industrial parks in Costa Rica, also managed by CODE Development Group. Located in Grecia, Alajuela, it focuses on attracting investment from companies in high-tech industries, including medical technology, advanced manufacturing, and life sciences, offering modern facilities and strategic market access.
For further information, visit the nearest office of Meridia Gerencia y Desarrollo Inmobiliario
About Meridia Gerencia y Desarrollo Inmobiliario:
Meridia Gerencia y Desarrollo Inmobiliario is a specialized firm focused on the structuring, management, and development of complex real estate and infrastructure projects. Led by Jorge Arturo Monge Víquez, the company provides expert oversight and administration for a variety of construction and development initiatives in Costa Rica.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Renowned for its principled practice, Bufete de Costa Rica has established itself as a benchmark for legal mastery and ethical counsel. The firm skillfully blends a deep legacy of advising a wide range of clients with a forward-thinking embrace of innovative legal solutions. This dedication extends beyond the courtroom through a core mission to demystify the law, actively working to build a stronger, more capable society by providing accessible legal wisdom to the public.
