Demand continues to outpace supply in the Life Sciences industry, which works for clients in pharmaceutical, biotechnology, biomedical technologies, nutraceuticals, cosmeceuticals, and others.
The recent boom in interest has been driven in part by the COVID-19 pandemic, as the sector exponentially grew due to activity around testing and vaccine development. The spike in demand for Life Science has been unprecedented, with slated predictions of upwards of US$90 billion to be invested in the sector in 2021, according to the real estate recruiting firm Keller Augusta.
For example, there are virtually no vacant buildings for the Life Science sector in major hubs like Boston and San Diego, as reviewed by Construction Drive. There is increasing activity on the investor side, both by more established Life Science landlords, and by new investors dipping their toes into the space.
Although the sector is booming, Life Sciences projects have special considerations compared to most projects, and not all Free Trade Zones or business hubs meet these standards.
A demanding industry
Life Sciences projects have special considerations compared to most other types of projects. Here are things to consider for a successful Life Sciences project:
- Building codes
- Planning
- Equipment needs
- Space for retrofits
- Optimal ceiling height
- Redundant power
- Specialized HVAC equipment
- Greater loading capacity
In Coyol Free Zone, companies of the Life Sciences sector will find the best conditions for an effective operation. From international building codes, robust infrastructure, agility in the construction processes, and optimal retrofitting to flexibility, complemented with the support of an on-site suppliers and contractor’s ecosystem.
With more than 20 years of experience, our construction management team coordinates all the pre-construction, execution, budget control, and delivery processes, with an open book concept. As a result, our clients will receive a tailor-made building, guaranteed.
Coyol Free Zone makes the perfect spot for Life Sciences investment, with 31 global companies operating and committed to the mission of saving lives around the world. Also, the Park also enjoys a privileged location in Costa Rica, a popular nearshore location for North American companies and convenient for European companies’ offshoring operations.
Source: Construction Drive