Arenal Ridge: Fractional Ownership in Arenal’s First Boutique Luxury Villa Resort

Arenal Ridge is a boutique luxury villa resort under development near La Fortuna, Costa Rica, by hospitality company Belong Costa Rica. It is the first development of its kind in the Arenal region. Investors can buy a full villa or a fractional share starting at $121,875. Construction on the first phase, the Tree House Villas, begins at the end of 2026, with completion targeted for mid-2027.

What Makes Arenal Ridge Different?

Arenal Ridge stands out because it’s a resort. Arenal doesn’t have a boutique luxury villa resort yet: a place where the villas, the amenities and the guest experience are planned together and run by one professional hospitality operator.

That difference matters to investors. A standalone vacation home competes on its own. A villa inside a professionally operated resort competes as part of a destination, with shared amenities, a concierge team and a distribution network that sends it bookings from opening day.

Belong Costa Rica created the project because it saw a gap between what travelers in Arenal want and what developers have been building. Arenal Ridge was designed to close that gap, with residences set within the forest instead of on open land.

Why Invest in Costa Rica in 2026?

Costa Rica is on track for a record tourism year in 2026, and most of that demand comes from North America. For hospitality investors, that is the market that fills villas.

Record International Arrivals

Costa Rica welcomed 1,033,777 international visitors in the first quarter of 2026, up 11.3% year over year. It was the first time a first quarter beat pre-pandemic 2019 levels (Umaña, 2026).

The momentum held through the first half of the year. Air arrivals reached about 1.6 million between January and June 2026, up 7.8% from the same period in 2025 (Silva Santos, 2026).

A Market Anchored in North America

The visitor base is the one U.S. investors know best (Umaña, 2026; Silva Santos, 2026):

• More than 70% of first-quarter 2026 arrivals came from North America
• 556,648 U.S. visitors arrived in the first quarter of 2026
• Canada was the fastest-growing major market, up 26.7%

Growth at the Airport Closest to Arenal

Liberia’s Daniel Oduber International Airport (LIR), about 2.5 hours from Arenal, received 368,413 international arrivals in the first quarter of 2026, up 16.9% (Umaña, 2026). That growth brings more travelers within easy reach of Arenal.

Why Invest in Arenal?

Arenal is one of Costa Rica’s strongest year-round tourism markets, with demand driven by nature, adventure and wellness rather than beaches.

Arenal gets a steady share of the country’s tourism:

• About 5.11% of all visitors to Costa Rica go to Arenal
• 35% of visitors to Costa Rica come looking for adventure and wildlife
• Leading luxury vacation rentals in Arenal regularly run above 80% occupancy
• Nightly rates in the area are among the highest in the country

Supply hasn’t kept up with that demand. There are still few places to stay that combine high-end design with a real rainforest setting. Arenal is also easy to reach: about 2.5 hours from both San José (SJO) and Liberia (LIR) international airports, which have direct flights from major U.S. and Canadian cities.

What Types of Properties Are Available at Arenal Ridge?

Arenal Ridge offers four residence collections, all with full or fractional ownership options.

Tree House Villas: Phase One

The Tree House Villas are raised into the rainforest canopy. They’re aimed at the four-bedroom luxury villa segment, which has strong demand in Arenal. Each villa includes:

• 3 to 4 bedrooms, each with its own en-suite bathroom, sleeping 8 to 12 guests
• Dual kitchens and large entertaining terraces
• Floor-to-ceiling glass that opens the living spaces to the surrounding forest
• A private infinity-edge pool with a signature waterslide
• Natural stone and timber construction
• Energy-efficient systems, air conditioning and high-speed internet

What Amenities Does the Resort Offer?

Every residence at Arenal Ridge shares the same resort amenities and hospitality services. Planned resort experiences include:

• Dining: a farm-to-table restaurant supplied partly by organic gardens on site, plus a Costa Rican coffee house
• Wellness: a riverside wellness area with a traditional stone temazcal and hot and cold plunge pools
• Adventure: an adventure pool with a waterslide, an infinity pool, hiking trails, two waterfalls on the site and wildlife observation decks
• Service: a dedicated concierge team, daily breakfast served in the villas, and access to nearby hot springs through local partners

How Does Fractional Ownership Work at Arenal Ridge?

Fractional ownership at Arenal Ridge gives investors equity in the company that owns the land, the building and the furniture. It is not a timeshare.

Each Tree House Villa is divided into eight shares of $121,875, for a total of $975,000. Here’s how ownership works:

• Personal use: five free nights per year in the off-season (September 1 to October 30), 25% off additional stays depending on availability, and access to last-minute booking offers
• Dividends: expected twice a year, in January and July, subject to approval. An operating reserve is kept for maintenance and upgrades
• Management fees: a fixed monthly fee plus 25% of net operating revenue to the hospitality management company, already included in the projections
• Selling your share: shares are first offered to existing shareholders before outside buyers
• Estate planning: shares can be transferred to heirs
• Exit strategy: the development goes to market in year four, with a liquidity event targeted by the end of year five, depending on market conditions and shareholder approval. Net proceeds are split in proportion to ownership after liabilities, taxes and transaction costs

What Are the Projected Returns?

Belong Costa Rica projects a total annual return of 17.4% for a Tree House Villa investment.

• 13.4% projected annual rental return, assuming 70% occupancy and a $1,050 average daily rate (ADR)
• 4% projected annual appreciation, from $975,000 at entry to a projected $1.2 million sale price in year five
• 17.4% total projected annual return

One detail stands out. The model assumes 70% occupancy, which is below the 80%+ that leading luxury rentals in Arenal achieve. Belong Costa Rica’s own Villa Xanadú opened in Arenal in 2025 and is on track for about 80% occupancy and an ADR above $1,500 in 2026. These are projections, not guarantees.

Who Is Behind Arenal Ridge?

Arenal Ridge is developed by Belong Costa Rica, a boutique hospitality developer, operator and investment company with more than 20 years of experience in Costa Rica.

Its portfolio includes the award-winning Manuel Antonio Treehouse Villas, Villa Xanadú and Arenal Yurts in Arenal, and Villa Buena Onda. Manuel Antonio Treehouse Villas booked more than $600,000 in reservations before it opened. Arenal Ridge will use the same construction methods, project management processes and contractor network, which lowers development risk.

The Arenal Ridge team brings together hospitality, construction, architecture and interior design:

• Richard Bexon, Managing Director. Co-owner of Namu Travel Group and Costa Rican Vacations, which he built into Central America’s largest luxury travel company, with more than $1 billion in travel, real estate and hospitality sales.
• Erick Corrales, Project and Engineering Director. More than 30 years in engineering and construction across luxury villas, infrastructure and commercial projects in Costa Rica.
• María José Pérez, General Manager. More than 15 years in luxury hospitality. She is General Manager of Karabi Villas, which operates Belong Costa Rica’s developments.
• Juan Diego Cárdenas, Principal Architect. Founder of Studio Anónimo, with more than a decade of experience in architecture. His firm is known for bold, innovative design and a commitment to sustainability, pairing striking aesthetics with environmental responsibility.
• Sarahy Flores, Principal Interior Designer. Founder of Sarahy Interior Design in Tamarindo. She spent several years at New York firm Fawn Galli Interiors before returning to Costa Rica, and designs functional, comfortable spaces with a natural aesthetic inspired by their surroundings.

The Tree House Villas will also join Karabi Villas, an exclusive collection of luxury villas in Costa Rica that manages bookings for Belong Costa Rica’s properties and a select group of other owners. Through Karabi Villas and partnerships with Namu Travel Group and Costa Rican Vacations, Arenal Ridge will reach thousands of high-value travelers from launch.

When Will Arenal Ridge Be Completed?

The first Tree House Villas are scheduled to begin construction at the end of 2026, with completion targeted for mid-2027.

• Done: land acquired and masterplan complete
• End of 2026: construction begins on the first Tree House Villas
• Mid-2027: first villas targeted for completion
• In parallel: common areas remodeled and infrastructure built or improved
• Later phases: Volcano Villas, Estate Villas and Volcano Apartments, timeline to be announced

Is Arenal Ridge the Right Investment for You?

Arenal Ridge brings together a record year for Costa Rica tourism, one of the country’s strongest travel regions and a resort concept that doesn’t exist in Arenal yet. Investors can enter from $121,875, use the property themselves, and follow a clear five-year exit plan.

Ready to learn more? Explore Arenal Ridge ownership options or contact our team