Papagayo on the Costa Rican peninsula ( Peninsula Papagayo ) announced on Wednesday that the groundbreaking ceremony for the second coastal community ( Andaz Residences ) located in Culebra Bay on the north Pacific coast had been held. The project consists of 35 residential units and is expected to be completed in 2029.
Peninsula Papagayo is widely regarded as Costa Rica's most unique resort and residential community. This milestone marks the next step in the long-term development vision of Mohari Hospitality. Mohari Hospitality is a global investment firm focused on luxury hotel asset development, which acquired the remaining equity of Peninsula Papagayo earlier this year, becoming its sole owner.
This 35-acre beachfront property, Andaz Residences, is located adjacent to protected rea de Conservaci Guanacaste forests, and is designed to set a new standard for luxury living in Costa Rica. Developed as a private residential area, it is situated right next to the Andaz hotel and offers seamless access to the complete amenities of Peninsula Papagayo, including Arnold Palmer Signature Ocean Course, which is exclusive to members, as well as the 20-acre Papagayo Park sports and health center.
These residences are aimed at second-home buyers and offer two-bedroom, three-bedroom, and four-bedroom units, each equipped with a private small pool. Most also come with rooftop terraces that provide stunning views of the Culebra bay. At the heart of the community is a private owners' clubhouse with views of the bay, featuring a resort-style pool, fitness and wellness areas, gathering terraces, flexible lounging zones, and a café on the upper floors. The daily operations are managed by Andaz Peninsula Papagayo Resort, which employs dedicated staff to provide 24-hour concierge services, valet parking, priority booking, in-house dining, room cleaning services, as well as a rental program that can be opted into through Andaz.
The project was designed by the renowned architecture and planning studio Predock based in Albuquerque. The architectural form follows the natural terraces of the terrain, with cantilevered structures that echo the curvature of the coastline. The choice of materials takes into account both a raw texture and a sense of refinement, including textured stucco, frosted glass, and wooden tile roofs. From the very beginning of the design process, passive design principles were integrated, making sustainability an inherent part of the building rather than an added feature later on.
As a private residential community, Andaz Residences meets all the requirements set by the Costa Rican government regarding site coverage and density, therefore construction can proceed without any delays. The starting price of this project is below $4 million, and it is positioned as a beachfront full-service residence at one of Costa Rica's most unique locations.
For more information or to schedule a private preview, please visit peninsulapapagayo.com / luxury-real-estate / andaz-residences.
About Peninsula Papagayo
Peninsula Papagayo is located on the north Pacific coast of Guanacaste Province in Costa Rica and is one of the premier coastal resorts in Latin America, covering an area of 1,400 acres with stunning natural landscapes. This private resort and club community integrates adventure, nature, and sustainable development, and is situated in one of the regions with the greatest biodiversity in the world. The community includes Four Seasons Resort Peninsula Papagayo, Andaz Peninsula Papagayo Resort, Nekajui Peninsula Papagayo, A Ritz - Carlton Reserve, Prieta Beach Clubhouse, Arnold Palmer Signature Ocean Course, Marina Papagayo, as well as a range of beach residences and villas. Peninsula Papagayo is committed to environmental protection, promoting sustainable development, nature conservation, and community projects to safeguard Costa Rica's rich natural and cultural heritage. The property is just a 30-minute drive from Guanacaste International Airport (LIR) and can be easily accessed via over 100 seasonal weekly flights from major cities in North America and Europe. For more information, please visit PeninsulaPapagayo.com.
About Mohari Hospitality
Mohari Hospitality was founded in 2017 by Mark Scheinberg and is a global investment firm focused on luxury hotel asset ownership and long-term development. Its portfolio includes luxury assets located in Peninsula Papagayo in Costa Rica, which comprise Four Seasons Resort Peninsula Papagayo, Nekajui Peninsula Papagayo, a Ritz - Carlton Reserve, and Andaz Peninsula Papagayo Resort; it also includes Four Seasons Hotel Madrid in Madrid and Bauer Hotel in Venice. The company is also developing new projects in Paris and Miami and has a large residential and vacation development project at Lake Tahoe. In addition, Mohari holds the ownership of Tao Group Hospitality and Hakkasan Group and owns equity in The Ritz - Carlton Yacht Collection. For more information, please visit www.moharihospitality.com.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation is headquartered in Chicago and is a leading global hospitality company with a mission to "care for others so they can perform at their best." As of June 30, 2026, the company's portfolio includes more than 1,500 hotels and all-inclusive properties across 83 countries on six continents.Its brand portfolio includes the luxury segments such as Park Hyatt ®, Alila ®, Miraval ®, Impression by Secrets and The Unbound Collection by Hyatt ®; lifestyle segments like Andaz ®, Thompson Hotels ®, The Standard ®, Dream ® Hotels The StandardX ®, Breathless Resorts & Spas ®, JdV by Hyatt ®, Bunkhouse ® Hotels and Me and All Hotels; all-inclusive segments including Zo ë try ® Wellness & Spa Resorts, Hyatt Ziva ®, Hyatt Zilara ®, Secrets ® Resorts & Spas Dreams ® Resorts & Spas Hyatt Vivid ® Hotels & Resorts Bahia Principe Hotels & Resorts Alua Hotels & Resorts ®, and Sunscape ® Resorts & Spas; classic segments such as Grand Hyatt ®, Hyatt Regency ®, Destination by Hyatt ®, Hyatt Centric ®, Hyatt Vacation Club ®, and Hyatt ®; as well as the basic segments including Caption by Hyatt ®.Unscripted by Hyatt 、 Hyatt Place ®、 Hyatt House ®、 Hyatt Studios ®、 Hyatt Select and UrCove. The company's subsidiaries operate World of Hyatt ® Loyalty Program, ALG Vacations ®、 Mr & Mrs Smith 、 Unlimited Vacation Club ®、 Amstar ® DMC Destination Management Services, as well as Trisept Solutions ® Technical Services. For more information, please visit www.hyatt.com.
About Andaz
Andaz This hotel is designed specifically for guests with a global perspective. Rooted in the local environment, it integrates local culture into its offerings. Its personalized and attentive service is aimed at empowering guests and enriching the surrounding world, leaving a lasting sense of vitality and satisfaction. Eligible Andaz guests can enjoy World of Hyatt benefits – for more information, please click here.
Media Contact
Peninsula Papagayo
Danielle Finnegan[ email protected ]Mohari Hospitality
FGS Global[ email protected ]Forward-looking Statements
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