The Costa Rican real estate firm Urbania has announced a landmark investment of $800 million to develop Amanelli, a sustainable luxury residential complex on the shores of Lake Coatepeque. This move solidifies El Salvador’s emergence as a premier destination for high-end real estate development and foreign direct investment in Latin America.
Urbania’s founder and CEO, Michael Tarcica, stated that El Salvador was chosen as the first country in the company’s international expansion due to its macroeconomic stability, improved citizen security, and strong legal framework—conditions he credited to the current government’s policies.
“El Salvador is currently a country that inspires confidence. Its improved citizen security, macroeconomic stability, and institutional framework have created an environment conducive to serious and sustainable investment,” said Tarcica.
Amanelli, located in one of El Salvador’s most iconic natural destinations, is a mixed-use development that will include residential towers, villas, a hotel, commercial spaces, offices, and a large event center, all surrounded by public green areas. The project integrates biophilic design, with architecture inspired by the nearby Santa Ana Volcano and abundant vegetation built into its structures.
One of the project’s standout features is a $10 million artificial lagoon powered by Crystal Lagoons® technology, making Amanelli the first residential destination of its kind in the country. Apartments will start at $170,000, with one-, two-, and three-bedroom options and attractive returns for investors.
The development will include six towers, each up to 17 stories high, offering panoramic views of the lake, lagoon, or surrounding mountains. In its reservation phase, Amanelli exceeded sales expectations in just 10 days, reaching goals initially projected for six months.
Urbania expects to generate over 1,000 direct jobs with the construction of Amanelli alone, contributing significantly to local economic and tourism development in the western region of the country.
According to Tarcica, this is only the beginning.
“This project marks our entry into El Salvador, but also the beginning of a series of developments that we will announce over time. We believe in this country, its people, and its potential to become a regional benchmark,” he added.
The San Salvador Metropolitan Area Planning Office (OPAMSS) expressed support for the initiative, even though the project is outside its direct jurisdiction. OPAMSS Executive Director Luis Rodríguez affirmed alignment with President Nayib Bukele’s vision of making El Salvador a magnet for global investment.
“We have already launched three foreign investment projects totaling over $2.6 billion. We are in talks with Urbania to expand their developments to the metropolitan area,” Rodríguez confirmed.
Construction of Amanelli is set to begin in the coming months, with the first phase scheduled for delivery within two years.
This project marks yet another milestone in El Salvador’s ongoing economic transformation—highlighting how security, transparency, and infrastructure are unlocking the nation’s untapped potential for investors, developers, and international buyers alike.