$500 Million to be Invested in Riviera Maya by Asian Developers
Representative developers from capital investors in Indonesia, Taiwan, Malaysia, and Singapore could invest around $500 million in USD. The funds would be invested in southern Quintana Roo, primarily in the Riviera Maya, and will be invested in a variety of mixed use real estate developments, including entertainment centers, shopping malls, and housing over the next five years.
The Mexican Association of Real Estate Professionals (AMPI) president Gerardo Elbiorn Dzubera announced recently that he had a meeting with these investors in San Francisco, California.
“A delegation of five people will visit Quintana Roo, they will provide the proper information to the investment groups to start planning developments in the area, depending on their analysis,” Dzubera commented.
He further explained that these developers are not a specific group, but rather Asian Americans that represent major Asian firms. These firms will eventually be coming to Quintana Roo to invest.
Dzubera is also the Commercial Director of the Aldea Zama development, which is located in Tulum. According to him, these investors and developers are very interested in this partnership to invest in southern Quintana Roo and they want to make use of the opportunity to create their own zone, thanks to Cancun’s infrastructure and air connectivity.
“There are many Real Estate brokers in the State who are not professionals, and if this negotiation falls into the wrong hands the investment of $500 million could not be done,” Dzubera cautioned.
The yet unnamed project may include the purchase of a land reserve. “Initially a group of four or five families will be sent to live in the area and feel the environment,” he said.
For those who live in this area, these new attractions will provide entertainment, shopping options, and potential employment options, as well as a significant boost to the local economy.
The entire Riviera Maya has become a hotspot for investors and real estate developers of all sizes due to the growth in the area and the continued popularity among international visitors.
American Realty is expending rapidly to keep stride with the increased demand – see our newest addition to the company here.