The Instituto Costarricense de Electricidad, the state telecom company, says it is going ahead with a new building on land it already owns in Sabana Norte in order to relocate 600 office workers.
The project is expected to save some $10.8 million in rents over three years because the company now leases 10 buildings for the same employees, it said. Excavation has begun for the new building, which is expected to be ready by 2017.
Public institutions are under pressure to save money, and eliminating costly rentals in favor of new construction is one way to do that. The Ministerio de Hacienda is seeking to purchase a new structure, and the Ministerio de Obras Públicas y Transportes seeks to build an 11-story office tower in Plaza Víquez, although a dispute among agencies has delayed that job.