Tuesday, April 28, 2009

Mexico Real Estate Industry Fights Back

Defending against the onslaught of negative press from the US media, RE/MAX recently issued results of research claiming that tourist zones in Mexico are up to 26 times safer than many tourist zones in the United States.

Among its findings: the state of Baja California Sur has a homicide rate 26 times lower than Orlando, 18 times lower than Miami, 17 times lower than West Palm Beach and 12 times lower than Tampa and Honolulu.

The report also stated that Baja California Sur has a homicide rate 39 times lower than Washington DC, 19 times lower than Houston and 17 times lower than Dallas. The new research by RE/MAX Investment Properties comparing homicide rates in the U.S.A., Canada and Mexico shows that Mexican tourist zones are much safer than those in the U.S.A. and many tourists are probably safer on vacation in Mexico than when on vacation or living at home

Friday, April 17, 2009

New Baja California Sur Projects are Forging Ahead

In spite of global financial problems, Mexico seems to be one of the few countries in the world that appears to be weathering the storm without too much damage. Yes the peso is down and unemployment up, but overall the economy seems relatively strong.

Work is progressing on several large developments, in Baja California Sur. These are located at Loreto, on the East Cape, near La Paz, the state capital and at Cabo San Lucas.

The Villas group, operators of resorts in Los Cabos, Puerto Vallarta, Cancun and Nuevo Vallarta are developing 1,800 acres at Loreto, North of La Paz. The project will include a Reese Jones golf course, up-scale time shares and full ownership along with grand hotels.

The Governor of our state was in Madrid where he met with Luis Delso and his associates. They are developing a project in the area known to locals as " Los Cruces". It was at Loss Cruces where Bing Crosby, Desi Arnez and other Hollywood types built homes. Los Cruces is on a large piece of land with only five houses and a small boutique hotel. The new project will be known as, "Azul de Cortes." A 14 kilometre road has been under construction from the Port Of Pichilingue to Azul del Cortes. A reliable source tells me that work has no ben completed.

Another Spanish company headed by Juan Manuel Ferri is developing a project to be known as Coral Baja. The developers are spending $ 350,000,000 on the project located on the East Cape. A new road is planned that will connect Coral Baja with the international airport at San Jose del Cabo.

Work is progressing on Quivira. This is a $ 1.5 billion project joining together the resources the Ritz Carlton Hotel chain of hotels, Jack Nicklaus and the Pueblo Bonito Oceanfront Resorts and Spas. In January, top executives of Marriott International, parent of Ritz Carlton came to vist the future home of The Ritz Carlton Los Cabos is on 1,850 acres of rolling foothills, with three miles of pristine beaches, yet only a mile away from downtown Cabo San Lucas. Quivira is being developed in phases with residential opportunities in each phase Phase one of the development will offer luxury living at the Residences of Ritz Carlton Cabos Quivira. Initial offering will include 44 ocean view homes on appricmatley1/3 acre lots as well as 75 one-story beach front homes on approximately ½ plus acre lots.

Source: John K. Glaab, CIP, Editor, The Settlement Company

Tuesday, April 7, 2009

New Highway Announced for the East Cape

The governor confirmed that the 500 million pesos ($26 million US) estimated for the construction of the highway will be entirely financed by Spanish investors. This will be a tourist corridor between La Ribera, Buenavista and Los Barriles.

The governor, Narciso Agúndez Montaño, announced that on or before three months, construction of the highway between the Airport - Palo Escopeta - East Cape will begin, which investment, estimated at over 500 million pesos, will be entirely financed by the Spanish company Coral Baja, which will be developing in the East Cape zone. The governor emphasized that this highway will be enormously beneficial not only to the tourist developments in the East Cape zone, including La Ribera, Buenavista and Los Barriles, but also to the livestock sector in the area.

After meeting with the Spanish businessmen Wednesday afternoon to discuss the investments announced for the East Cape area, the governor, Narciso Agúndez Montaño declared that the foreigners, leaded by Juan Ferri, are very interested in investing in this highway, as well as in developments in La Ribera and Puerto Cortés. The governor added that this highway, with an estimated cost of 500 million pesos, entirely financed by said private investors, will be approximately 43 kilometers long and will be benefiting both the livestock sector and tourism development.

The governor stated that this highway will undoubtedly constitute a tourist corridor for the East Cape, San José, La Ribera, Buenavista and Los Barriles, considering that it has as much potential as the existing tourist corridor Cabo San Lucas - San José del Cabo. He added that we are very pleased that foreign investors have accepted our invitation and specially that they continue trusting Los Cabos and the entire State as an excellent place for investment.

The governor stated that he considers this highway will detonate the area, thus the importance of the investment in this project. Agúndez Montaño added that during these critical times, it is encouraging for Baja California Sur to see that private investors continue trusting their nvestments in our State -“although investments in infrastructure works in the State is somewhat slow, we have complete confidence that businessmen will continue investing”. The governor informed that this achievement is a result of the activities perform during his recent visit to Spain.

http://www.tribunadeloscabos.com.mx/newpage/index.cfm?op=por&record…. 16/02/2009