In most key market areas, Mexico real estate has been closely tied to the growth of tourism and the investment brought by this growth. Cozumel real estate has been no exception. For this reason the recent announcement of 2 new major hotels is good news for this market.
With private investment of $65 million USD for the construction of two major hotels and public investment of $46 million pesos (about $4.2 million USD) for the development of tourism infrastructure, both Cozumel’s tourism and real estate markets are set to benefit substantially.
Cozumel’s Mayor Aurelio Gonzalez said that construction of the two new hotels will begin early in 2012. The hotels will be located in the northern part of the island.
One project is being undertaken by the famous U.S. billionaire, Donald Trump. This project will be of greater size and the development is expected to be completed over the next four years. It will offer over 1000 rooms, a golf course and a marina. This project will also contribute to the rapid emergence of the area as the focal point of Mexico golf course real estate; Playa del Carmen, the closest mainland community, has already been named the country’s “golf capital” with 9 courses, many of which are professionally designed, and high-quality real estate. Cozumel has contributed to this with one excellent course and the accompanying development.
For Trump’s complex there will be a capital of $60 million dollars, which comes to the island after four years without foreign investment for large hotel infrastructure.
This new growth of the hospitality industry will be joined by the hotel Cozumel Turquoise Bay, in which Hilton will invest $5 million dollars to make 200 rooms available to the tourists, also in the north of the island.
On the growth of the tourism industry, the mayor said that in 2011 Cozumel will welcome between 3.6 million to 4 million tourists as a result of the commissioning of a new flight to Cozumel linking Mexico City, starting on the first of July. At the start of operations of the airline, he noted, it will have four frequencies a week and starting with the winter season, there will be a daily flight to the island’s capital.
By 2012 it is expected that Cozumel reach five million visitors. However, Cozumel is the number one destination in cruises in the country, which recorded a flow of three million visitors.
The new projects, combined with this growth, can be expected to bring exciting new real estate options.
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